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Asking Price$270,000
Revenue$1,144,000 EstablishedUndisclosed
Cash Flow$90,000 Employees7 part-time
FF&E$200,000 FranchiseNo
Inventory$10,000 RelocatableNo
Real EstateUndisclosed* Home-basedNo
* Included in Asking Price
There are so many ways to make this mostly absentee-run Chicken & Ribs Joint on Manhattan's UES significantly more profitable. First, you would be well-advised to be more hands-on providing the adult supervision a business like this deserves to reach its potential. Second, open earlier to capture the breakfast rush. You're paying for rent and utilities anyway, so why not? Besides the foot traffic from this densely populated residential neighborhood, it is also surrounded by schools and hospitals. Third, add a bathroom, which will allow you to add more seats than the 18 allowed there now. There's plenty of room for it. Fourth, offer beer & wine to your customers. Fifth, advertise to do more catering. Sixth, get permitting for a sidewalk cafe to wrap around this great corner location. There are 9 years left on the lease for 850 square feet at ground level and the same in the basement, which is used for prep and contains a walk-in freezer and walk-in refrigerator. All of the equipment is in excellent working condition. Roof venting. Great HVAC system. 45% of business comes from on-line delivery order; 45% from credit cards payments in-store and 10% cash. No delivery guys are used here, as the owner relies on Relay, a platform that connects couriers to restaurants, on-demand. You could switch to the likes of' GrubHub and UberEats if you'd prefer. The landlord is easy to work with and wants to see you succeed, but will require 6 months in rent security in the beginning. He will reduce that requirement after you have proven yourself a reliable tenant. Lastly, if you are particularly ambitious, you may be able to turn this into a franchisable concept. Please upgrade to premium membership to obtain the name and address, then do a discreet walk-by, but do not say anything to the employees or customers, as they do not know it is for sale. Kindly call the listing broker Jay Goldman to make an appointment to meet with the seller and get a tour of the facilities. Please contact the broker at 1-877-735-5224.
Training/Support:The seller will train the new owner.
Seller Financing:$220,000.00 Down and $50,000.00 in seller financing at 6% over 24 months
Sale Reason:After 13 years in this business, theseller is going into a completelydifferent field
Ad #98376
Seller Reference #30379
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Jay Goldman
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