The company is a restaurant chain and food take-out/catering business that serves clients in a multi-state area. Opportunities exist to grow both the restaurant and take-out/catering aspects of the business in the existing geographic market and beyond. The company has a long standing reputation for offering superior food quality and service at very affordable prices. Over 100 items are on the menu and the full menu is available to both restaurant and take-out/catering customers. The take-out/catering business serves individuals, families and groups of 100+. Over 20,000 customers are members of customer discount programs. The dining experience and menu appeals to every demographic. It is very important to note that a change was made in the operations of the business in 2016 that negatively impacted sales in 2016 and 2017. However, the change was planned and will result in an improved profit margin going forward.
The business owns most of the real estate, but some locations are leased. It is the intention of the owner to sell the owned properties. However, they will consider offers to lease the owned properties. The appraised value of all owned properties is $8,835,000.
The #1 competitive advantage of the business is the broad and diverse menu of food items that are all high quality and very affordable. Other competitors with a similar price point do not offer consistent high food quality for all items on their menu.
Owner is retiring.
A Buyer would need to have the necessary food service industry experience to manage a $20 MM, multi-state food service operation.