Broker Name:Moon Kim
Broker Email:info@v-aidgroup.com
Broker Phone:1-866-519-2421
Broker Address:2727 LBJ Freeway #775 Farmers Branch, TX 75234
Broker Contact Form
Name

Email

Phone

Comment


Franchise Quick-Serve American Restaurant
(Restaurants)
Tarrant, Texas
Listed Price: $ 195,000
Listing ID: 000865

Listing DetailsDown Payment: $ 97,500
Gross Revenue: $ 750,000
Cash Flow: $ 110,000
FFE: $ 125,000 (Included in Price)
Inventory: $ 5,000 (Included in Price)
Reason for Sale:

Other opportunities


Training & Support:

While Corporate will provide a comprehensive hands-on training, the current business owner will provide training and support to make the transition as seamless as possible.


Listing SummaryBusiness Description:

Franchise American restaurant serving home-style cuisine in prime location is available for acquisition. This business was originally established almost 5 decades ago in 1972 and later acquired by the current owner in 2016. This 39 year-established business is located in a 4,881 SF free-standing building surrounded by enormous presence of retail chains and nationwide franchise restaurants that attract a number of people to the area. This business features drive-thru and a private-party room which is being efficiently utilized for groups of customers holding a party or group meetings. This nationwide franchise restaurant is well known as the place for country-style homemade American food. The restaurant offers more than 50 variety of fast casual home cooking foods such as country fried steak, breakfast buffet, pancakes, fried chicken, grilled chicken, roasted chicken, pot roast, catfish, sandwiches, and various sides to accommodate each entree. A majority of customers are well mix of all ethnic groups in ample range of age group. A large portion of customer consists of loyal customers that has been accumulated in the last 39 years of operation, and some catering customers on monthly basis has been established since the current owner took over this business. Competition is unavoidable in this type of industry, but this franchise is highly competitive in terms of traditional home-style cooking of American cuisine concept with its reputable name widely-known to people while also having been established much longer than any competitors in the area. Gross sales have been very consistent for last couple years in the range of $750K-780K per year due to its prime location and some marketing regularly done by the franchisor. Although some marketing is in place through the franchisor, more of store-level proactive marketing method needs to be utilized to achieve maximum income capacity as well as growing the customer base beyond the immediate market area. Marketing efforts on catering service to schools, companies, public agencies, etc. can also greatly improve the sales as catering business has remained largely untapped by the current owner due to his absentee. Since this business is operated as owner absentee, a full-time owner-operator will enjoy additional profit by cutting down unnecessary payroll expenses, but keeping current managers in place will still be beneficial as it will allow new owner for an additional time to proactively market the business for further growth. This business is looking for a prepared entrepreneur who can be hands-on in the day-to-day business operation and conducting pro-active marketing for next level growth.


Competition:

Few competitors were found within the immediate market area, but the business has been established longer than most of competitors and is the only country-style American restaurant in the immediate area.


Potential Growth:

Some marketing is in place through Corporate, but more local marketing is necessary as there is none. As it is operated as owner absentee, pro-active owner involvement in day to day operation coupled with pro-active marketing and new owner's active involvement in day to day operation can possibly generate much more revenues at least $1Mil per year.


Financing/Terms:

100% down at the time of closing or 50% Cash Down with SBA Financing for Qualified Buyers.


LocationSquare Footage: 4881
Facilities:

This business in a 4,881 SF space of free-standing building is located in the hub of a city, where many nationwide franchise quick-service restaurants and retail chains are located. All equipment is in excellent condition and in working order.


OperationYear Established: 1982
Employees: 5FT/7PT
Absentee Owner: Yes