What is the current gross revenue for these restaurants?
The current gross revenue being generated is estimated at $1,257,290.
How do the restaurants 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 these restaurants?
There is no seller financing. These businesses may qualify for a business or SBA loan. If more 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: payroll, payroll taxes, workers compensation, advertising, supplies, food, utilities, property rental fees, permits and licenses, phone, and insurance. Expenses are estimated to be a total of $1,126,507 per year (Note: Expenses represent a cash purchase and do not account for finance payments if requiring a loan to purchase).
What type of insurance do I need?
In most cases restaurant owners will need a minimum of the following insurance policies: business liability, worker’s compensation and business property insurance. Restaurants For Sale now offers discounts on insurance! Through our size and volume, we have partnered with some of the largest insurance brokers in the nation to offer the best rates. Request Your Free Insurance Quote Here.
Are the restaurant properties owned or leased?
Currently the owner leases the properties. Lease terms remain for 4.5 years for one location and for the other location the lease is currently month to month. 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 Pensacola, Florida. Physical addresses 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: Keg cooler, Visi Cooler, Cheese machine, RIC (new), prep table freezer, 3 door large freezer, 4 vat fryer, oven, ice machine, sandwich cooler (new), POS system with side board, printers, fax/printer, safe, monitors, 5 cash drawers, safe, vent hood.
What size are the restaurants and how many customers can they seat?
One restaurant is 1,400 sq. ft. and seats 30, the other is 1500 sq.ft. and seats 36.
Do these restaurants currently have a beer or liquor license?
Both locations have a beer and wine license that is included with this sale.
Do the restaurants offer drive-thru or delivery service?
There is no drive-thru or delivery service.
How long has the seller owned the restaurant?
Seller has owned one restaurant for 10 years and the other for 12 years.
Why is the owner selling?
Owner is selling due to health concerns.
What are the hours of operation?
Restaurants are operated from 11am – 11pm Sunday through Wednesday, and 11am – 12am Thursday through Saturday.
What else should I know?
Established franchise opportunities located in great locations. Turnkey and move in ready. Includes the cost of all equipment. Plenty of opportunity to increase revenue. Restaurants have great customer ratings! Priced at $349,000. For additional information and to evaluate this business further Contact Us About This Restaurant Here!