HoneyBaked Ham Franchises For Sale - Greater Champaign, Illinois
Two HoneyBaked Ham Franchises for sale in the Greater Champaign, Illinois region for $99,000. Established franchise opportunities, currently grossing an estimated $778,048 and net $43,302. Manager in place. Great locations in busy plazas with strong anchor stores. Restaurants are fully built out and includes all equipment. HoneyBaked Ham restaurants sell hams, turkey breasts and other pre-cooked entrées and side dishes plus they offer a lunch time and catering menu of sandwiches, salads and soups. This is a unique opportunity with huge growth opportunity. Restaurants would benefit from an owner operator to drive the business day to day plus an owner operator could considerably reduce labor costs. Motivated seller due to relocation. This is an absolute steal - the cost to open a new franchise would be between $300,000 and $500,000. The ground work has already been done and this is an ideal time to purchase in time for the holiday season. New owner will need to be approved by the landlord and franchisor. Some seller financing may be available.
Frequently Asked Questions:   Price: $99,000   Cash Flow: $43,302   Financing: No   Listing: Active
What is the current gross revenue for these restaurants? The current gross revenue being generated is estimated at $778,048.
How does the restaurant profit? Current profits are generated from the gross revenue, minus food purchases, payroll, supplies, and operating expenses. This will determine your net/cash flow.
Can I finance the restaurant? Some seller financing may be available. This business will not qualify for a business or SBA loan due to the cash nature. However, if financing is needed for startup cost you can review additional Financing Options Here.
What is required in order to qualify for purchase? Typically, most franchise restaurants will have liquidity and net worth requirements (to be determined on an individual basis by franchisor), require the buyer to attend an interview for approval, background check, and in most cases, require you to form an entity such as an LLC or Corporation to purchase. This not only protects the company, but also ensures protection of your business. If you need help forming this, we recommend that you Form A Corporation Here.
What are my expenses and overhead for a restaurant business? Expenses will vary for each restaurant owner depending on the type of restaurant, number of employees, and location. Current expenses for this owner include: royalties, payroll, payroll taxes, workers compensation, advertising, supplies, food, utilities, property rental fees, permits and licenses, phone, and liability insurance. Expenses are estimated to be $734,746 per year.
Are the restaurant properties owned or leased? Currently the owner leases the properties. New owner must be approved by the landlord. Note: New buyer will sign lease terms with the property owner.
Where are the restaurants located? Located in the Greater Champaign, Illinois region. Physical address will be released to qualified buyers upon execution of an NDA.
What type of equipment is included with the sale? Current list of equipment includes: walk in coolers, walk in freezers, hoods, stainless tables, glaze tables, food processors, microwaves, ovens, sandwich toaster ovens, coolers, soup warmers, sinks, kitchen utensils, shelving, restaurant furniture, computer, POS systems, safes, office equipment etc. Estimated value is $140,000.
How many customers can these restaurant seat? One restaurants can seat 50 inside, the other can seat 75 inside and 16 outside.
Do these restaurants currently have a beer or liquor license? No, there is no beer or liquor license included with this sale.
Do the restaurants offer drive-thru or delivery service? There is no drive-thru, delivery service is offered.
How long has the seller owned the restaurants? Seller has owned one restaurant for 2 years and the other for 3 years.
Why is the owner selling? Owner has relocated out of state.
What are the hours of operation? The restaurants are operated from 10am to 6pm Monday - Sunday.
What else should I know? Established franchise opportunities. Turnkey and move in ready. Includes the cost of all equipment. Plenty of opportunity to increase revenue. Honeybaked ham has a great reputation and brand recognition. Restaurants are seasonal with the busiest times around the main holidays although sales are generated year round. Priced at $99,000. Will not last long at this price. Some seller financing may be available. For additional information and to evaluate this business further Contact Us About This Restaurant Here!
Disclaimer: Restaurants For Sale is a Restaurant Broker that brings buyers and sellers together. Restaurants For Sale does not represent, or is not affiliated with the company or franchise being offered. All agreements are made between the buyer and seller and not Restaurants For Sale. It is the prospective Buyer's duty and obligation to verify the accuracy of the Seller’s representations and if necessary retain attorneys, accountants, business appraisers, or other professionals. The representation of income is based on the efforts of the current owner. As with any business you can make more or less.