Sale includes: The Entire Business, all Equipment & all Fixtures.
Fast Food Restaurant - Northwest side of Chicago
Here is your chance to buy a fast food style restaurant in a great location at a very low price.There are 27,000 cars driving past this restaurant each day. This fast food style restaurant offers carry out, delivery and a good size dining room with approximately 44 seats. The current owners are moving to Florida to start a new business. This fast food restaurant has been in business for over 25 years. With warmer weather approaching, sales are increasing. The warmer weather causes foot traffic to dramatically increase. In addition to the usual fast food menu items such as gyros, burgers, hot dogs, salads, wings, beef sandwiches and soups, they also serve homemade chili, homemade gyro sauce, homemade Italian dressing, homemade BBQ sauce, and homemade deserts such as cakes, pies, and brownies. Fast food restaurants are notorious for having inferior food quality, but this is not the case here.
The owner states that most of the gross sales are cash sales. The restaurant is located on a very busy street on the Northwest side of Chicago. Again, there are 27,000 cars driving by the front door each day. Aside from finding a good location with high traffic counts, cheap rent, and plenty of parking, the most difficult aspect of opening a fast food restaurant is developing delicious food recipes. In this case, this has already been done for you. The best part of this business is that even though the business has very limited hours of operation, no website, and very little advertising, the still manage to do over $300,000 in gross sales each year. With so many bars in the area, expanding the hours of operation would help increase the sales even further. The restaurant is also not even open for breakfast. The current hours of operation are Mon-Thurs 11am to 8pm, Fri & Sat 11am to 8:30pm and CLOSED on Sundays.
Also, while most businesses have seen a 20% to 45% decline in sales from 2008 to 2009 because of the economy and reductions in customer spending, this business has only realized a 7% decline in sales. At $135,000, this is a great opportunity with a lot of potential for future growth, simply by expanding the hours of operation.
This really is a great location with very cheap rent. The rent is only 8.8% of gross sales with the limited hours of operation. If the hours of operation were expanded, the gross sales would increase and the already low 8.8% would decrease to an even lower percentage of gross sales.
Note: Pictures of the business can be emailed upon request. Also, a copy of the menu is available upon request.
Asking Price/Business only: $120,000.00 plus inventory
Gross annual sales (approximately): $326,257.00 (as stated by owner)
Cash flow or net (approximately): $52,910.00 (as stated by owner)
Value of furniture, fixtures & equipment (approximately): $25,000.00
Value of inventory (approximately): $1,500.00 (not included in asking price)
Lease details (approximately): The lease expires in 2015 however, the property owner is willing to give an experienced & qualified buyer an 8-10 year lease. The Gross Rent is currently $2,400.00/month & includes CAM & RE Taxes. The space is approximately 1,700 sq ft. There are +/- 44 seats & +/- 16 parking spaces plus street parking.
Seller Financing: Sellers may consider some financing with a qualified & experienced buyer/operator.
Contact: Dennis, email@example.com or 312-360-1955