Turnkey Food Service Management Company

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Multiple Multi-Year Contracts with State Government Entities
Asking Price:
$1,595,000

Gross Revenue:
$2,957,000
Cash Flow:
$460,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
$10,000
included in asking price

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Business Description

Multiple Multi-Year Contracts with State Government Entities
Founded in 2001, this Company is a food service management company that operates their clients’ food service operations, turn-key, with their staff and their menus, while taking responsibility for all regulatory agencies that inspect their clients such as hospitals and residential facilities. This includes federal-CMS, JCAHO for hospitals, and the State Department of Education for some of their clients under the National School Lunch program. County inspections include the local "'Health Departments" for food safety.
The Company has great experience in meeting regulatory requirements in Healthcare, National School Lunch Program compliance, as well as problem resolution for clients in areas of food quality, service issues, cost reduction and regulatory compliance.
The company can compete with larger Food Service management companies through an alliance with one the largest GPO in Food purchasing. Its customer base consists of non-profit 501(3)(c), residential rehabilitation (homeless youth and adults), Government hospitals and retirement communities. The Company focuses its marketing efforts on NON-PROFIT organizations dedicated to youth rehabilitation and Government (County) facilities which delivery services to the mentally ill and Children at risk. An increased demand in these services is forecasted. The Company is on Government biding lists in CA and FL, responding to RFPs as notified. The Company has an excellent reputation with national clients.
Due to the nitch nature of the target market, there isn’t a lot of competition from larger food service management companies. This is due to the size of the accounts, their non-profit nature, or the normal bureaucratic requirements of government RFP's. The Company has a great growth opportunity with a major client with 21 locations in US and Canada and with County government entities.
The Company has three part time office staff positions which handle the majority of HR/recruitment, financials, AP/AR and P&L.
The Company is dedicated to serving high quality food service at lower costs to their clients. Their primary goal is to maximize flavor and eye appeal, while providing "healthy dining alternatives" with freshly prepared foods. They are focused on reducing the "obesity" trend through nutritionally balanced and appetizing meals.

The Company is dedicated to nutritional well-being through a partnering relationship with social and business organizations. They are dedicated to improving the overall health and welfare of their clients. The Company specializes in nutritional services, which includes:

• Group purchasing to reduce operational expenses.
• Reduction of benefit costs and staffing patterns to reduce expenses.
• Menu development and customization for each client's needs.
• "From scratch" food production strategy which improves quality, taste, flavor, and at the same time "saves money".
• Recipe standardization and conformance to regulatory standards.
• Dietitian menu oversight and nutritional analysis, offering nutritionally sound menus with healthy dining alternatives.
• Focus groups to improve communication and menu changes.
• Meeting all County, State and Federal standards and National School Lunch Program requirements.
According to D&B First research, Companies in this industry contract to provide food services at commercial, institutional, and governmental locations. Major companies include Aramark and Delaware North (both based in the US), as well as Autogrill (Italy), Compass Group (UK), Elior Group (France), Sodexo (France), and SSP Group (UK).
The global market for on-site food services at businesses, hospitals, schools, and entertainment venues is worth about $270 billion, more than half of which is outsourced to third-party contractors, according to Compass Group. Key growth markets for the industry include China, Ind

About the Business

Location:
Orange County, California
Year Established:
2001
Number of Employees:
39
Real Estate:
Leased
Building Sq. Ft.:
1,100
Rent:
$1,749.00 Per Month
Lease Expiration:
7/31/2021
Market Outlook/
Competition:
Company is well positioned
Growth & Expansion:
Excellent potential
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About the Sale

Reason For Selling:
Retirement
Training/Support:
Owners will assist in the transition

Listing Info

ID:
1673056
Ad Detail Views:
189

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$
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Business Listed by

Vasilis Georgiou,M&AMI, CBI, CBB, MBA

CrossRoads Business Brokers
License# 01441023

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