Own this existing, profitable Oyster Bar for a fraction of the cost to start a new location from scratch.
This Oyster Bar Franchise location was just established in 2019 in Eastern North Carolina. This is an ideal business for a hands-on owner that wants to break into the industry or expand his/her already profitable store portfolio. The total investment necessary to begin operation of a new franchised business is as much as $776,750.
The Company leases approximately 1,960 square feet of retail space, in a strip mall. The current lease ends December 31, 2028, but Company has the option in its sole discretion to request two 5-year extensions, which would keep the current lease in effect until December 31, 2038.
According to Seller, in the Franchise Disclosure Document, the Average revenue based on 2016 earnings is $1.127 million. EBITDA is 18.44%.
The franchise targets its services to consumers who desire higher quality seafood and beverages in a casual atmosphere. Competition exists in the market in the form of local seafood and bar-restaurants, national seafood chains (ex: Joe’s Crab Shack, Red Lobster, and Bonefish Grill), and regional seafood chains. The market for a seafood restaurant is developed and moderately competitive. Compared to other food franchise opportunities, the franchise is highly competitive because of its below-average start-up costs combined with its “lean” business model ideal for smaller spaces (1,800-3,000 sq, ft.) with an easy-to-prepare single page menu served by a very manageable crew. Few direct competitors. If you already operate restaurants in your area, the restaurant won’t be cannibalizing your other locations. There’s really nothing like the concept in the market, so it will draw people who are specifically seeking seafood over burgers, chicken, or pizza.
Owner has health reasons.
Will train for 4 weeks @ no cost In order to run a restaurant in North Carolina, the prospective purchaser will need to complete all of the specific county health department licensing requirements applicable to the restaurant industry. Selling beer or wine at a retail establishment requires a $400 North Carolina Liquor License. The buyer must register the business entity with the NC Department of Revenue in order to receive quarterly sales tax reporting forms.