IHOP Restaurant With Owner Financing Available For Sale

Business description

IHOP franchise restaurant located in a commercial mall of Middlesex County, New Jersey. IHOP is a fifty (50) year old franchise and one of America's favorite Restaurant chains; providing moderately priced, high quality food in a comfortable atmosphere. IHOP is widely known and popular throughout the entire country, with excellent historical trends and stable sales growth. This particular franchise location is in a mall setting with lots of drive by traffic, numerous colleges and commercial businesses that frequent the restaurant very often. The current owner (franchisee) enjoys substantial sales of $1.4 million with an excellent yearly net income. The business facility was recently upgraded and is quite modern and attractive. The IHOP franchise offers complete assistance to its franchisees with moderate royalty fees and training. Please contact us for further details.

Franchise terms

Franchise training and support is included.

Property information

Real Estate:

Lease

Lease terms:

An existing lease expiring on 2021 with additional options is available for transfer.

Location:

The business is located in a high traffic mall with many daily shoppers and workers to the area. The facility consists of 5,500 square feet with an indoor seating capacity for 125 customers. Fifty five private parking spaces are also included and part of the lease agreement.

Other information

Expansion potential:

The business hours can be increased during the weekends (Friday and Saturday), which will improve the gross income by approximately 12%. This is also one of the very few communities in New Jersey that allows businesses 24 hour openings.

Competition / Market:

No other IHOP restaurants are in this general area due to the required non-compete agreement between each franchise location.

Support & training:

Seller will provide a full due diligence and transitional period.

Reasons for selling:

Relocating to Florida and out of the food industry

Trading hours:

Sun-Thur 7:00am-10:00pm, Fri & Sat 7:00am-12:00am

Financing available:

Owner financing is available for a qualified purchaser.

Furniture / Fixtures value:

$225,000 (included in the asking price)

Inventory / Stock value:

$75,000