What is the current gross revenue for this restaurant?
The current gross revenue being generated is estimated at $608,106.
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?
Yes, this business has been pre-approved for financing of up to $334,000 (amount needed down is variable depending on buyer’s liquidity and credit score). Buyer must also meet the minimum SBA requirements for lending to include: a minimum credit score of 680 and relevant experience in the restaurant industry, or some type of previous management experience from another industry. View SBA loans or more 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, repairs and maintenance, laundry and cleaning, office expenses, supplies, food, utilities, property rental fees, permits and licenses, phone, and liability insurance. Expenses are estimated to be $436,688 per year (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 Greater Indianapolis, Indiana 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 cooler, walk in freezer, refrigerated sandwich prep table, hood, stainless tables, food processor, microwave, oven, sandwich toaster oven, soup warmer, sinks, kitchen utensils, shelving, restaurant furniture, utility carts, hand truck, office equipment etc. Estimated value is $38,000.
How many customers can this restaurant seat?
This restaurant is 1,600 square feet and can seat 14 inside.
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 or delivery service currently offered.
How long has the seller owned the restaurant?
Seller has owned this restaurant for 24 1/2 years.
Why is the owner selling?
Owner is retiring.
What are the hours of operation?
The restaurant is operated from 10am to 6pm Monday – Saturday.
What else should I know?
Established franchise opportunity. 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 $376,000. For additional information and to evaluate this business further Contact Us About This Restaurant Here!