What is the current gross revenue for this restaurant?
The current gross revenue being generated is estimated at $815,225.
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 $335,750 (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. Some seller financing may also be available. 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: payroll, payroll taxes, workers compensation, advertising, supplies, food, utilities, property rental fees, permits and licenses, phone, and liability insurance. Expenses are estimated to be $631,932 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. Lease terms remain for 3 years, and then there will be a 5 year option available. 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 Fayetteville, North Carolina. 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/Freezer with Shelving, Refrigerated Counter/Sandwich and Salad Unit, Hoodwich, Oven, Microwave Oven, Mop Sink, Blender, Ice Cream Dipping Cabinet, Electric Food Slicer, Refrigerated Merchandiser, Undercounter Refrigerator, Office and Security Equipment. Estimated Value is $60,000.
What size is the restaurant and how many customers can it seat?
Restaurant is 1,900 sq. ft. It has seating for 69 inside and 40 outside.
Does this restaurant currently have a beer or liquor license?
Yes this restaurant has a beer and wine license.
Does this restaurant offer drive-thru or delivery service?
No, however a catering service is offered.
How long has the seller owned the restaurant?
Seller has owned this restaurant for 2 years.
Why is the owner selling?
Owner is pursuing other business opportunities.
What are the hours of operation?
This restaurant is operated from 10:30am – 9pm Monday-Thursday, 10:30am – 10pm Friday and Saturday, and 10:30am – 8pm Sunday.
What else should I know?
Established restaurant shop located in a large,busy shopping plaza! Established franchise opportunity! Turnkey and move in ready. Includes the cost of all equipment worth an estimated $60,000. Plenty of opportunity to increase revenue. Priced at $395,000. Pre-approved for SBA lending. For additional information and to evaluate this business further Contact Us About This Restaurant Here!