Jimmy John's Sandwich Franchise For Sale - Ithaca New York
Jimmy John's Sandwich Franchise for sale in the Ithaca, New York region for $160,000! Seller financing available with $120,000 down. Established franchise opportunity, currently grossing an estimated $601,000 and nets $53,000. Jimmy John's is a popular franchise restaurant offering a wide variety of sub & club sandwiches and signature potato chips. This is a great opportunity to own a fully built out store at considerably lower cost than it would be to purchase a new franchise. This store is in a fantastic location in a downtown business district, surrounded by shopping and dining, with two new apartment buildings being built within a block of the store. This location offers carry-out as well as delivery and catering services. The ground work has already been done. All equipment included. New owner will need to be approved by the landlord and franchisor. Please be advised that this restaurant will not qualify for SBA loans or third party lending. If seeking financing, buyer must be able to borrow against personal assets.
Frequently Asked Questions:   Price: $160,000   Cash Flow: $53,000   Financing: Yes   Listing: Active
What is the current gross revenue for this restaurant? The current gross revenue is estimated at $601,000.
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 this restaurant? Seller will finance up to $40,000. Terms to be discussed. Need more? 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. Current expenses for this owner are estimated at $547,000 (Note: Expenses represent a cash purchase and do not account for finance payments if requiring a loan to purchase).
Is the restaurant property owned or leased? Currently the owner leases the property. New owner must be approved by the landlord. Note: New buyer will sign lease terms with the property owner.
Where is the restaurant located? Located in the Ithaca, New York 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: refrigerated sandwich prep tables, sandwich presses, walk-in refrigerators, freezers, microwaves, meet slicers, prep tables, sinks, fountain soda machines, POS registers, telephones, pans, knives, racks, etc.
How many customers can this restaurant seat? This restaurant can seat 10 indoors.
Does the restaurant currently have a beer or liquor license? No, there is no beer or liquor license included with this sale.
Does the restaurant offer drive-thru or delivery service? There is no drive-thru service. A delivery service is currently being offered. A catering service is also provided.
How long has the seller owned the restaurant? Seller has owned this restaurant for 9 years.
Why is the owner selling? Majority owners have retired.
What are the hours of operation? This restaurant operates from 11am to 12am Sunday - Thursday, and 11am to 3am Friday and Saturday.
What else should I know? A great opportunity to own an existing franchise with huge potential. Jimmy John's offer a lunch time and evening menu of sub & club sandwiches and signature potato chips. Seller financing available with $120,000 down. Priced at $160,000. 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 Sellerís 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.