Own 2 restaurants in One location with high traffic!

Asking Price$325,000

Cash Flow
$200,000

EBITDA$300,000

Gross Revenue$600,000

Inventory$7,500
Included in asking price
FF&E$200,000
Included in asking price
Drive-Thru - Middlesboro
Jon Smith Subs & The Meaner Wiener in Harrogate, TN
Jon Smith Subs & The Meaner Wiener Middlesboro, KY
Drive-Thru - Middlesboro
Jon Smith Subs & The Meaner Wiener in Harrogate, TN
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Own 2 restaurants in One location with high traffic!


Asking Price$325,000

Cash Flow
$200,000

EBITDA$300,000

Gross Revenue$600,000

Inventory$7,500
Included in asking price
FF&E$200,000
Included in asking price

Seller Financing Available
Business Description
This is a unique opportunity to hit the ground running with two highly rated restaurants in one location. Jon Smith Subs is a premium grilled and deli subs franchise, and The Meaner Wiener is a self-started "ghost kitchen" within these locations that offers giant gourmet hot dogs other items, most all of which share ingredients with Jon Smith Subs, so food costs are greatly reduced and food waste is minimized. Since the locations are in the same space, they are also easily managed and share the same staff. We have done all the leg work of starting up these two restaurants and have them fully staffed and equipped. We are in leased space, but include all the equipment, inventory, POS system (Toast), and inventory are included in the sale We have also built a loyal following of customers, and we are greeted with a boost in business when Lincoln Memorial University is in session, not only from the students, faculty and staff, but also from visiting sports teams, who place large orders with us for delivery to their hotels or to the sports venues on campus. Also included in the sale is a 2012 Honda CR-V delivery vehicle, which generates about $300-$500 per day during the week serving the factories in nearby Tazewell and New Tazewell, TN.
About the Business
Years in Operation
3
Employees
12
Franchise
This business is an established Jon Smith Subs franchise
Facilities & Assets
The location features all equipment and seating and have indoor and patio seating areas and is located off off a busy US HWY 25E, which serves as "Alternative I-75" in close proximity to The Cumberland Gap National Historical Park, outdoor recreation areas, hiking trails, and ATV/UTV riding trails and Lincoln Memorial University. We not only enjoy steady business from the University, but also from visiting athletic teams that order in bulk.
Website
https://www.jonsmithsubs.com/harrogate-tn
Market Outlook / Competition
The location is off of a busy US-25E, which serves as an "alternative I-75" for drivers heading to and from NC and SC or OH, MI, and IN to cut time and distance off the drive. Jon Smith Subs is the only premium grilled subs option in the area, and The Meaner Wiener is the only gourmet hot dogs restaurant in the area, and both share ingredients and staff, which saves on costs.
Opportunities for Growth
Opportunity exists to assume a multi-unit development agreement with Jon Smith Subs and to expand the brand of The Meaner Wiener and possibly offer franchises of it.
Real Estate
Owned or Leased
Leased
Building Sq. Ft.
1,200
Rent
$2,333.00 per month
Lease Expiration
7/1/2028
About the Sale
Seller Motivation
Owner would like to refocus on his other career in the electronics industry and
Transition Support
Jon Smith Subs corporate and local owner/operator will provide training of new owners.
Financing Options
Buyer must bring their own financing
Listing Info
ID
2387646
Listing Views
455

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Business Listed by: Ronald Hall

Listing ID: 2387646 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.