Business For Sale

Very Profitable Rita’s Italian Ice Franchise

Hampton, VA
Hampton City County

Asking Price: Annual Revenue:
$180,000 $276,133

Food & Beverage: Coffee, Cafe, Dessert

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RE: Very Profitable Rita’s Italian Ice Franchise Broker: Vernon Suemnicht

Quick Facts

Asking Price: $180,000
Annual Revenue: $276,133
Net Profit: Not Disclosed
Cash Flow: $64,924
Total Debt: Not Disclosed
FF&E: $20,000
Real Estate: Not Disclosed
Year Established: 2013
Employees: Not Disclosed
BBN Listing #: 449644695
Broker Reference #: BBN-Rita's-Hamp

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Business Overview:

Rita’s Italian Ice serves two core products in creative combinations: Italian ice and frozen custard. That alone makes Rita’s unique among all the frozen dessert and ice cream franchises out there; no one else offers what Rita’s offers to their guests.

Established since 2013, this is a great Rita's location. It has become a favorite gathering spot for friends and families in the surrounding community. The Rita's has a 4.5 Google rating and 72 reviews.

It is located on an end unit and has a drive-through window offering guest a choice of options for service.

2017 the Sales were $276,133 up from 2016 sales of $267,461, and 2018 sales are on track to exceed 2017 sales.

2017 normalized profits were $64,924 with 2018 profits projected to increase to $75,000.

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Property Features and Assets:

Located in off of a major road in a strip center next to a Subways restaurant and Little Caesars Pizza. Both act as feeder businesses to the Rita's. The location was strategically selected for the demographics of the area and proximity to the surrounding neighborhoods, busy highway, apartments, and many other populated areas. The location occupies a 1,250 sq. ft. shop with inside setting having 4 tables and 3 benches. Outside on the fenced-in patio, there are 2 tables and 2 benches, so there is plenty of room for parties and gatherings.

Market Competition and Expansion:

It is the only frozen dessert ice cream shop within a mile radius. A new owner would benefit by adding mobile units and generating additional sales in the community. Mobile carts have the potential to increase revenue by an estimated $30K-$50K based on cart performance in similar markets. Profits can increase significantly for carts since the cart operates off the shop's expenses other than employee which is minimal.

Reason for Selling:

Retirement Planning

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.

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