Pita Pit Sandwich Franchise For Sale, Virginia Beach - Virginia
Pita Pit Sandwich Franchise For Sale in the Virginia Beach, Virginia region for $225,000! Established franchise opportunity, currently grossing an estimated $447,308 and nets $74,265. Income is based on an owner-operator role. Pita Pit is a popular quick service restaurant offering a menu of breakfast, meat and veggie pita sandwiches - a healthier alternative to fast food. This store is in a busy shopping plaza with a large popular anchor store, other retail, and dining. Huge opportunity to expand! Plus the area has a large military population. Store would benefit from an owner-operator to manage costs and grow the delivery and catering business. Manager is available if buyer would prefer more semi-passive role. Included in the sale is all equipment (total estimated value $60,000) and a delivery vehicle with "Pita Pit" graphics wrapping. New owner will need to be approved by the 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: $225,000   Cash Flow: $74,265   Financing: No   Listing: Active
What is the current gross revenue for this restaurant? Current gross revenue is estimated at $447,308.
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? This business will not qualify for a business or SBA loan due to the cash nature. 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. Current owner estimates yearly expenses at approximately $373,043 (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.
Where is the restaurant located? Located in the Virginia Beach, Virginia 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 freezers, counters, hoods, prep tables, chef base, sinks, ice machines, sandwich tables, smoothie station, griddles, streamers, slicers, choppers, pan, utensils, POS systems, signage, lighting, restaurant furniture etc. Estimated equipment value is $60,000. Also included is a delivery vehicle.
How many customers can this restaurant seat? This restaurant has indoor seating for 40.
Does this 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. The sale includes a "Pita Pit" graphic wrapped delivery vehicle.
How long has the seller owned the restaurant? Seller has owned this restaurant for 3 years.
Why is the owner selling? Owner is downsizing.
What are the hours of operation? This restaurant operates from 10am - 10pm Sunday through Thursday, 10am - 11pm Friday and Saturday.
What else should I know? Pita Pit offers a healthy alternative to fast food offering a menu of quick service pita sandwiches. Priced at $225,000. 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.