Sandwich Franchise, Great Location, Absentee Owner

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Philadelphia Cheesesteaks & Hoagies, Newer Buildout
Asking Price:
$75,000

Gross Revenue:
$391,383
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
$2,500
included in asking price

FF&E:
 Not Disclosed
included in asking price

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Business Description

This business is part of a very successful Southern California based food franchise that offers authentic Philadelphia steak sandwiches and hoagies as its main menu items. The location was newly built out in May 2014 and does not require any upgrades to the interior. New or newer equipment was installed and has been well maintained with all in good working order. The business occupies 1,300sf and is located in a high traffic retail center along with other nationally branded tenants. The center has excellent parking and visibility. There is seating for 22 customers inside.

The menu features a variety of steak sandwiches, pizza steaks, cheese steak hoagies, Philadelphia chicken sandwiches and authentic Philadelphia hoagies. Other menu items include burgers, fries, onion rings, and an assortment of soft beverages and beer. What distinguishes this franchise from other sandwich shops is the fact that most of the ingredients used to prepare their steak sandwiches and hoagies are shipped directly from Philadelphia. They also import Franks Sodas, Wise Potato Chips, and TastyKake Cakes and Pies.

The owner is completely absentee. There is a full time manager in place along with 3 other well trained employees. Employee wage expensed could be reduced with a full time owner operator. Sales have been consistently growing, with 2018 showing an 11% increase over 2017.

The cost of building out a new location can be as high as $400,000. This presents an excellent opportunity to step in as an owner/operator of a very successful franchise at a greatly reduced cost. Local training is offered by the franchise prior to the close of escrow, with full on-going support after.

About the Business

Location:
Orange County, California
Year Established:
2014
Number of Employees:
2 ft, 2 pt
Franchise:
Yes
Real Estate:
Leased
Building Sq. Ft.:
1,300
Rent:
$6,454.00 Per Month
Lease Expiration:
7/31/2024
Facilities:
The business occupies 1,300 sf in a high traffic retail center that is home to other nationally branded tenants. There is seating for 22 inside. The total monthly rent is $6,454 including CAM. The lease is valid through July 2019 and has a 5 year option period.
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About the Sale

Reason For Selling:
Absentee owner is concentrating on building his other business
Training/Support:
The franchise has a local comprehensive training program for new franchisees prior to the close of escrow, with on going support after. The seller will also provide training after the close of escrow.

Listing Info

ID:
1558793
Ad Detail Views:
360

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Business Listed by

Bob Baumgarten

National Business Brokerage
License# 01862375

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