IHOP Franchise Restaurant In New Jersey For Sale

Business description

National IHOP Franchise Restaurant located in a prime area of Northern New Jersey. IHOP is a fifty year old franchise and
one of America s favorite Restaurant chains; providing moderately priced, high quality food and beverages in a comfortable atmosphere. This franchise enjoys a very high markup due to its product menu representing a substantial profit for the owner. This particular franchise is in a wonderful urban area with a large population. The facility consists of an updated, clean modern building with lots of private parking available onsite. The franchise food business gross income will continue to develop with onsite management. The restaurant has an indoor seating capacity for 147 customers.The location has private mall parking for 92 vehicles as part of the lease. This business is active seven days weekly, hours from 7:00 am 10:00 pm. The business is fully equipped, with a commercial kitchen and prep area, POS system, refrigeration systems, and all required equipment. The business has a municipal food license and is an IHOP Franchisee. The franchise lease continues to 2022 with available extensions and a 10 year franchisee agreement, monthly rent is $12,700 plus cam. The seller has retired and will finance the sale to a qualified purchaser. The franchise requires approval and provides a six week training period and seller will pay half of the franchise transfer fee. The opportunity offers entry into a well known franchise with a wonderful reputation for success and owner financing.

Property information

Real Estate:

Lease

Location:

The business is located on an active county road in an urban city of Northern New Jersey. This is a densely populated urban area with lots of ongoing demand for moderately priced food service.

Premises details:

The facility consists of 4,700 square feet with a clean modern appearance designed specifically for this national franchise. This free standing building is located in an active mall with other commercial businesses.

Business Operation

Expansion potential:

With onsite management and increased hours during the weekends the restaurant can be further improved and developed. The restaurant is near to a state college which if marketed correctly can also increase sales.

Competition / Market:

The franchise has a distance restriction and seller will supply a non compete agreement to the purchaser.

Reasons for selling:

Retiring after many successful years in this particular industry.

Trading hours:

Seven Day Operation
7:00 am to 10:00 pm

Employees:

15

Years established:

1995

Other information

Support & training:

Franchise training is required for six weeks for all new purchasers.

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Seller financing is available to qualified buyers.

Furniture / Fixtures value:

$325,000 (included in the asking price)

Inventory / Stock value:

$1,800 (included in the asking price)

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