Business Description
Included in the sale: The franchise agreement cost, the leasehold improvements, the equipment, the paid inventory, covenant not to compete, and goodwill. The buyer must pay the fee to transfer the franchise, pay for the beer and wine license transfer and any cost associated with the transfer of the lease.
The seller is the original owner, acquiring the Franchise in 2008. The Mountain Mikes Pizza Restaurant is located in a Shopping Center across from the City of Visalia s sports complex. The restaurant is up-scaled in lay out and design, similar to a Sports Bar offering television from every angle, and sells pizza, sandwiches, salads and other foods and beverages. There are no other pizza parlors in the near vicinity. There has been very little marketing since the opening due to the health of the owner, who is a quadriplegic.
Mountain Mikes has been a very progressive and supportive Franchisor; they will require the buyer to qualify in experience and background, before the franchise can be transferred. The Franchisor will provide training in franchise operation as part of the conversion fees charged.
Visalia is an up scaled community, which offers quality of life, good schools, a popular community college, a fine Hospital and healthcare system, an airport, a large labor pool, centralized location to the national parks and the central coast.
About the Business
Year Established:
2008
Number of Employees:
9
Facilities:
The seller is the original owner of Mountain Mikes Pizza Restaurant Franchise. Located in shopping center in the North East part of the city of Visalia, one block from the city sports park. The restaurant is up scale, with TVs similar to a sports bar. Mountain Mikes is a very progressive and supportive Franchise. In addition, to the asking price the buyer will be responcible for the transfer of the franchise, the beer and wine license and cost associated with transfer of the lease.
Market Outlook/Competition:
There is significant opportunity for growth with the implementation of a marketing plan, extending the business hours to correspond with the events at the sports areana, contracting to provide pizza to schools and events, and possibly expanding the menu. There are no pizza restaurants in 2 square miles. The growth of the business has come primarily from the location and word of mouth. Mountain Mikes provides quality pizza, sandwiches, salads, and beer and wine. The owner focuses on keeping the restaurant family oriented.
About the Sale
Reason For Selling:
The health of the owner who is a quadriplegic.
Training/Support:
Training from the home office franchise is included in the cost of the tranfer fee paid by the buyer. The owner will also provide onsite support for 30 days, and be available for telephone consultation there after.
Cash Flow Comments:
EBITDA: $175,000
