Absentee-Owned Barbeque Franchise Restaurant with Property in Waynesville, NC! High Traffic Count!
Absentee-Owned Barbeque Franchise Restaurant with Property in Waynesville, NC! High Traffic Count!
Price: $699,000
Industry: American Restaurants, Miscellaneous Restaurant and Bars
Sellers just secured a 5-year contract with the local school to supply breakfast and lunch for $15,000 per month! That is an ADDITIONAL $180,000 in yearly sales and $133,000 in gross profit after food cost!
Sales averaged $53,000 Per Month BEFORE the School contract commencing! Sales will be average $68,000 per month with the School contract! The Contract has a 5-year term!
Sales will be $741,000 this year!
Yearly Net Profit will be $152,000 this year AFTER paying an Extremely High Payroll of $200,000 per year and all other expenses!
Take advantage of the Summer sales and the new 5-year School contract!
Food Cost is extremely high at 36% of sales. Owner-Operator can reduce Food Cost to 32%, which is a saving of an additional $30,000 in potential net profit!
Payroll is also extremely high at 27% of sales. Owner-operator can also streamline operations and reduce the $200,000 payroll to ideally 22% of Sales, which would be an additional savings of $36,000 in potential net profit!
After streamlining payroll and lowering food cost, an Owner-Operator can take home over nearly $220,000 in net profit!
Franchise Royalties are only 9%! Franchise transfer fee is only $5,000!
Currently not serving beer! Franchise allows for beer sales! Huge opportunity to attract more customers and increase sales by adding beer!
Sellers are Absentee and cannot manage the restaurant because they live almost 2 hours from the business! Please do not speak to employees! Sellers took over the location at the end of March 2023 when it was shut down.
Property is large enough to add another business! Huge opportunity to add a vape store or other retail!
Only 18 minutes from Asheville, NC! Only 1 h 10 min from Spartanburg and Greenville, SC! 1 hour 30 mins from Knoxville, TN! Located near Interstate-40!
4 miles from universities like Haywood University with over 2,500 students, Haywood Christian Academy, Shining Rock Classical Academy with over 563 students, Regional High Technology Center, and Tuscola High School with over 971 students!
Near Haywood Regional Medical Center and Lake Junaluska with major lake tourism!
Surrounded by various apartment complexes like Mountain Creek, Brookmont Loft Apartments, Mountain Trace, Palisades at Plott Creek, Vantage Pointe Homes at Balsam Mountain, Aviemore Village, and Meadowland Apartments.
2 miles from the economic development project that will have two apartment buildings with a total of 210 units as well as Waynesville’s largest-ever single-family home subdivision development with 115 home sites!
4 miles from a townhome project that will amount to more than 800 new units!
Extremely High Average Traffic Count! Approximately 26,000 vehicles passing by the Restaurant each day!
Asking Price for the Business and Property is $699,000!
The Sellers are also willing to lease the Business-only for $199,000 plus inventory! Inventory is guesstimated at $5,000. The Rent is only $2,600 NNN per month with a 15-year lease available!
If interested, please call or text us anytime at (770) 664-9999 or email your full name and best contact number to info@riverbrokers.com
Gross Revenue: $741,000
Cash flow: $152,776
Reason For Sale:
Sellers are Absentee and cannot manage the restaurant because they live almost 2 hours from the business!
Monthly Rent: 2600