Business Overview:
The owner of this successful, ten year old sub, soup, and salad franchise has had two major surgeries in less than two years to address congenital problems. Currently confined to a wheelchair, the owner has been told by his surgeon that he cannot return to his restaurant in any kind of active capacity. The owner has no alternative other than selling his business. His loss could be your gain.
Located in an attractive free standing 2400 square foot building on a major Grand Rapids surface street, the restaurant, which seats 25, has outstanding visibility from both directions. The current lease, including triple net charges, is running a favorable 10% of revenues. The experienced and loyal staff has been successfully managing the business for most of the past two years with limited owner involvement.
The cash flow during the past two years (and for 2009’s first quarter) for the absentee owner has averaged a very impressive $75,000. In 2006, the last year during which the owner was involved on a full time basis, a terrific $112,000 cash flow was recorded.
In the second quarter (2009) several new lunch contracts for a group of medical reps were inked which has already resulted in 100 additional lunches per week with over $800 of incremental weekly revenues. As a result, 2009 is tracking near record revenues.
The business is listed at $149,000 which is only 2.0x current cash flow (with an absentee owner) and only 1.3x the 2006 cash flow with an active owner. And, for a qualified buyer, $50,000 of seller paper is available.
If you are looking for a successful sub franchise, this business has it all: (1) well known franchisor; (2) great location; (3) attractive site with a favorable lease; (4) a loyal and experienced work force; (5) strong cash flow; and (6) a great price. For more information on this ideal opportunity and how you can become an instant owner of a fun and profitable business, contact us today.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
2,400 square feet building.
Reason for Selling:
Health Concerns
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.