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Downtown Redwood City Teahouse with $134,00 Net Profit in 2019

167
901 Main Street, Redwood City, California, United States
Photos Website Map
Asking Price$50,000
Revenue$324,314 Established2016
Cash Flow$134,017 EmployeesUndisclosed
FF&EUndisclosed FranchiseNo
InventoryUndisclosed RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
RRC#: 3966  
Asking Price: $50,000
Location: 901 Main Street, Redwood City CA
Annual Revenue: $324,314
Annual Cash Flow: $134,017
Monthly Rent: $5,822

Listing Description:
Lovejoy’s Tea Room, a cozy tea house located in downtown Redwood City is for sale.  Lovejoy’s serves a wide variety of teas, along with finger sandwiches and assorted baked goods.  Open since 2016, they were a popular site for private events for local tech companies such as Facebook prior to the pandemic.  The business is poised for a comeback to pre-pandemic numbers.

The sale of this location includes the exclusive rights to purchase an additional license for an additional Lovejoy’s Tea Room in the area that includes Redwood City, San Carlos, Menlo Park, Palo Alto, and Mountain View.  The sale also includes furniture and fixtures, recipes, retail inventory, inventory of food and supplies, tea service rental settings for 30, social media accounts, customer goodwill, the current owners’ goodwill, and personalized training and support (including lease negotiation consulting and employee training support).

This business offers multiple opportunities for revenue growth.  Prior to the pandemic, the tea house was open to the public four days/week to accommodate the current owners’ desire for work-life balance.  A new owner/operator could expand days and hours of operations, expand the retail offerings, and expand catering services and private events.

The landlord will be providing a new long term lease for a buyer at fair market value.  More information available upon request.




General Information:
Organization:  Sole Proprietorship
Year Established: 2016
Current Owner: Contact for Info    
Employees: Contact for Info
Reason For Sale: Other Interests

Financial Information:
Monthly Revenue: $27,026
Monthly Cash Flow: $11,168
Annual Revenue: $324,314
Annual Cash Flow: $134,017
Payroll: Contact for Info

Facilities:
Square Feet: 1,480  
Seating: Contact for Info  
Parking: Street and Lot Parking  
Days/Hours of Operation: Wednesday - Saturday 11am-6pm
Facilities:Square Feet: 1,480 Seating: Contact for Info Parking: Street and Lot Parking
Training/Support:Yes
Sale Reason:Other Interests
Ad #129444
Seller Reference #3966
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Contact This Seller
Steven D. Zimmerman, CBI, M&AMI, CBB, FIBBA
Restaurant Realty Company
888-995-9701
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