MergerPlace

Breakfast/Lunch Cafe & Bubble Tea Shop

Washington (King)


  • Asking Price: $95,000
  • Gross Income: $89,712
  • Cash Flow: $26,585
  • Real Estate: Not Disclosed
  • Inventory: $1,200
  • FF&E: $3,904
  • Listing ID: #209003
  • Established: 2008
  • Employees: 1 FT

Business Description

This is an opportunity to own a trendy, turnkey cafe serving the very popular bubble tea, also known as Boba. In addition to serving many different flavors of bubble tea, this hip cafe also serves espresso, baguette sandwiches, sweet or savory crepes and the new, high demand poke bowl. This well known, eclectic cafe has been serving the community for over ten years and is located on a busy street with great exposure to drivers and walkers. The charming, warm and inviting decor welcomes patrons to dine in, however, the cafe also provides take-out and delivery through three popular online delivery services. This business has the potential for an absentee ownership situation. The current owner monitors the financials but does not participate in the day to day running of the business. Financials shown are for the first half of 2018.


Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: Washington
County: King

Company Information

Year Established: 2008
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 1 FT

Financial Information

Asking Price: $95,000
Gross Revenue: $89,712
Cash Flow: $26,585
FF&E: $3,904
Inventory: $1,200
Seller Financing Available: No

Property Information

Facilities:

The casual and hip cafe is located in a 700 square foot stand-alone, distinct structure on a busy street with excellent visibility and high traffic count. Serving a popular and growing urban neighborhood with excellent walk-ability. The cafe includes trendy and eclectic decor along with all equipment needed to run the business. The lease amount is $1,390/month expiring July 31, 2022.

Growth & expansion opportunities:

There is room to expand marketing efforts to increase exposure with social media advertising and print advertisements including promotions. Subscribing to additional online delivery service platforms will increase exposure as well.

Competition:

There are two other coffee shops within a 5-mile radius. There is no competition selling Bubble Tea, crepes, baguette sandwiches and their popular poke box lunches. When it comes to restaurants, fast casual has been the growth darling of the industry for almost 20 years. While it still accounts for less than 10% of the total market, the number and diversity of fast-casual restaurants has been exploding across the country, with growth of over 500% since 1999. Evolving consumer tastes and creative restaurant concepts are the driving forces behind this growth. Increasingly consumers are looking for healthy alternatives and are more dynamic in their tastes - they’re looking for more than the typical burger and fries. But what has not changed is the need for speed and convenience when it comes to grabbing a bite, particularly during the business day. Bubble tea is growing in popularity and demand. The Boba tea market is expected to grow 7.4% between 2017 and 2023 with the introduction of new flavors and decreases in demand for carbonated drinks. Poke Bowls are also growing in popularity and demand as this dish ticks many boxes: it is a fresh, healthy, high-protein, and a relatively inexpensive lunch. Poke is the biggest fast casual food trend. According to Foursquare, the number of Poke restaurants has more than doubled in the last two years, however, there are no poke restaurants within a 5-mile radius of this cafe.

Reason for selling:

The owner has moved out of state.

Support & Training:

Will train for 2 weeks @ no cost Washington and Seattle business licenses would be required. Food handler license is required to operate this cafe serving many flavors of bubble tea, espresso coffee drinks, crepes, baguette sandwiches and poke box lunches. Learning to prepare menu items will be a breeze with a quick lesson or two.

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Business Listed By:

Claudia Smith

Murphy Business Brokers