|Price/Rent PSF||$ 1,785,000.00|
|SQ. FT. Available||31,066|
Country Waffles: Madera, Hanford, Lemoore; Brooks' Ranch Restaurant: Kingsburg, Reedley, Selma, Sonora; Jeb's Blueberry Hill: Tulare; Jeb's Swedish Creamery: Kingsburg.
At the age of 92, it is time for this restaurateur to retire! Rare opportunity to acquire a group of high gross premium Central California located sit down Restaurant business' - Full Service Breakfast, Lunch, and Dinner. Established group of freestanding restaurant businesses boating strong rent-to-sales in carefully selected highly desirable locations. Great upside potential resulting in a higher bottom line may be realized for an owner operator as this business is currently 100% absentee owned and 100% employee run with a manager and full complement of staff. Seller allocates zero time what-so-ever and minimal resources in this business, therefore an energetic new buyer may generate additional revenues by devoting time and necessary resources and by controlling payroll, food cost and other operating expenses. Further, each location has significant opportunity to add a fully functional "Class A" bar upgrades as an addition component that is currently underutilized. The portfolio of businesses include (3) Country Waffles, (4) Brooks' Ranch Restaurant, a Jeb's Blueberry Hill, and a Jeb's Swedish Creamery.
Performing book of restaurant businesses producing over $6,240,000 in gross annual sales and over 120,000 transactions per year. Payroll is less than 20% - Food cost is less than 27%. Income is very steady and promising every month, weekends are super busy with about 30 minutes wait to be seated on Sundays, catering and To-Go orders with continuous increase. Staff is well trained and there are high stars rated with a great reputation of repeated customers. Each location is unique, typical features include energy efficient upgrades, functional floor plans, private banquet rooms, up-to-date fully operational turn-key kitchens, several refrigerators and freezers, large open areas, separate kitchen and food preparation areas, walk in coolers, hood range, multiple restrooms, and more. Sites are designed for hosting events, parties, civic/club meetings, and more. Sale includes all licenses, furniture, fixtures, equipment, inventory, and good will. Transferable half-rate 2% royalty out of Gross sales for corporate office for Country Waffles.