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This business is a Twin Cities multi - store national franchise specialty food retailer. They have remained open during the pandemic as they were designated as an essential business. Although slightly affected in 2020 by the pandemic, their sales over the years have been very consistent with a strong seller's discretionary earnings averaging between 12.5% and 15% of sales. The current owner utilizes in store managers at each location allowing him to limit his hours for most of the year but working up to 40 hours per week during the holiday seasons. This provides him with a lot of flexibility as to his time commitment. If the buyer chooses to work more hours, the buyer could increase the cash flow by limiting the store managers hours. Moreover, this is a retail business that is NOT open from 7 AM to 9 pm 7 days a week!! This business is only open about 46 hours per week and no Sundays or holidays! The quality buyer will need to be vetted by the franchisor and then, if approved, attend training at both the corporate training location and at one of the certified training stores.
The business operates out of multiple store locations located in retail strip centers close to major retail malls. Their leases run with options into 2029 & 2030. All the locations are in good repair with more than adequate parking and the all the equipment is in excellent running shape.
Prior to the pandemic, sales for the three previous years were fairly steady averaging about $2,776,000. Post pandemic, when business & social events are again held, increased emphasis on the catering side of the business should help to increase revenues and likewise cash flow. Larger family holiday meals will again fuel growth as well.
Their competitors are grocery stores and any restaurant that offers business lunches. However, this company's product is unique and not offered many of their competitors' locations.
The owner wishes to retire.
Mon-Fri 10am-6pm; Sat 10am-4pm
Will train for 4 weeks @ no cost
The business sells specialty food products for home & holiday meals, take out or dine in, as catered products for business and social events, and as corporate gifts for clients and employees. The quality buyer will need to be vetted by the franchisor and when approved, then undergo training at both the corporate training location and also at a certified training store. This will prepare she or he for successful management of this franchisee business. A transfer fee per store location will need to be paid by the buyer as part of the franchise transfer from the seller to the buyer.
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