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1 Corporate Store + 2 Franchised Stores
HISTORY: There are three units in this American diner franchise chain that's been around for nearly 30 years. Its award winning burgers and shakes keep people coming back for more, but it needs change to take advantage of the brands great product, reputation for quality, service and most important , its brand recognition..this is an Arizona Icon!
Being managed from 2,500 miles away hasn't helped the brand and it needs a local management team to take it back to the pre-recession numbers where there were 17 units. This franchise brand has clout a good local operator can turn into a successful franchise. What hurt the brand was poor site selection by franchisees who paid premium rents at the height of the retail market in the early 2000's, they failed to re-investment in the stores (caused in part by the high rents) and too many stores were absentee operated and the owners got "fat and happy" by the cash these stores generated, then the great recession blindsided them when revenues dropped and they could meet the rents despite having solid volumes.
WHAT ARE YOU BUYING? One corporate stores, the two franchise stores as well as the entire franchise business. Yes, you'll own it all! The FDD's are all up-to-date and ready for a new owner to grow this great concept again. That's huge! There were 17 stores in this popular chain and there is absolutely no reason there can't be many more stores in the next 5 years with good planning and execution.
PROFIT & LOSS: The 2017 revenue for the one corporate owned stores was $2 million and is growing at 5% in 2018 with Working Owner Cash flow of $385,405. Food costs are 29.0% while all-in labor cost including managers are running 30.6% with an all-in rent factor of 6.8%. So getting a full time owner into this store and more profits will flow.
MENU: This is American comfort food menu served in a diner style environment that's fun and stimulating with service that's second to none. The food is fantastic, fresh, flavorful and visually very appealing, causing people to crave it and come back for more. This family oriented concept has price competitive menu and this author believes there is room to move prices up as there is little competition for thus style of food and entertainment in the area.
LEASE: The corporate owned store has a long-term land leases expiring in 2040.
SBA LOAN: SBA Loan is available for experienced operators with at least 20% down, who have good credit and a proven track record of success.
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