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5 SOLID TEXAS FAMILY STYLE RESTAURANTS-MANAGEMENT IN PLACE
(Restaurants, Franchise Restaurants)
- Texas
| Seller Financing: |
Yes |
| Lender Pre-Qualified: |
No |
| Listing ID: |
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| Office ID: |
072211DJS |
| Status: |
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Listing Details
| Listed Price: |
$7,476,042 |
| Down Payment: |
$1,869,000 |
| Total Sales: |
$8,074,406 |
| SDE: |
$963,414 |
| EBIT: |
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| EBITDA: |
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| FFE: |
$1,350,000 |
Included? Yes |
| Real Estate: |
$4,650,000 |
Included? Yes |
| Inventory: |
$100,000 |
Included? Yes |
| A/R: |
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Included? No |
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| Reason for Sale: |
Past retirement age and health issues. |
| Training: |
Yes. Terms to be negotiated. |
| Financing Terms: |
Seller’s will consider a 10-15% carry back with a reasonable holdback period for a qualified buyer. Buyer(s) will need approximately 25% as down payment to secure a 3rd party lender for 55-60%+-, and restaurant management experience. |
Operations
| Year Established: |
1983 |
| Last Acquired: |
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| Form of Ownership: |
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| Home Based: |
No |
| Relocatable: |
No |
| Type of Location: |
Stand-alone |
| Absentee Owner: |
Yes |
| Online: |
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| Employees: |
Full Time: 275 / Part Time: |
| Managers: |
10 |
| Hours: |
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| Owner Hours: |
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| Non-Owner Payroll: |
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| Franchise Info: |
Franchises |
Location
| Lease Expire: |
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| Option: |
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| Lease Terms: |
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| Lease Security: |
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| Monthly Rent: |
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| Square Footage: |
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| Facilities: |
4 owned facilities and one leased property with long term lease options. Most locations are in the “best location” in each city, typically close to name-brand retail stores, motels and other well known commercial businesses; some locations have extra land purchased and included for parking; buildings and equipment are in excellent condition due to recent remodeling(s) & TLC.
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Summary
| Business Description: |
Long time established, strong Franchise Brands operating under same ownership and management for up to 28 years in 4 Texas cities. Owners do not live in the cities where restaurants are located. All locations have either a manager/general manager with most having been with the family for many years. Very loyal employees with several having worked their way up through the ranks. Locations are in cities with populations ranging from 25,000-100,000, but with a substantial number of visitors each year.
Strong brands; all locations with FF & E in excellent shape; fine local reputations; excellent long term local management team(s) and team members; RE in key locations. |
| Historical Summary: |
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| Owner Qualifications: |
Seller’s will consider a 10-15% carry back with a reasonable holdback period for a qualified buyer. Buyer(s) will need approximately 25% as down payment to secure a 3rd party lender for 55-60%+-, and restaurant management experience.
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| Competition: |
Normal in each city. |
| Potential Growth: |
Key positive signs:
Consumers are returning to restaurants; social media appears to be working to reach customers and build loyalty without resorting to deep discounts; management has figured out how to work around increasing commodity costs without steep price increases; gas prices seem to have stabilized and growth in Oil and Gas exploration seems to be stabilizing the food service industry;
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