Sale includes: The entire business, equipment & fixtures.
This business is located near a major university. The surrounding neighborhood is home to 64,320 residents. This university is one of the largest private universities in the country and 3,000 hungry students live on campus. According to the Illinois Department of Transportation, an average 25,900 cars drive past this business each day.
This franchise started in 1975 and is the first submarine franchise to open in Chicago. This is not a Subway or Quiznos Franchise. There are now over 25 locations in Chicago because the concept works: Great food at a great price. One of the features that makes this such a great franchise to own is the low franchise fees. Many franchises charge you up to 10% in franchise fees and advertising fees. This business’s monthly franchise fees are only $325.00 and the advertising fees are only $275.00, no matter how high your sales are.
With this business there are plenty of opportunities to increase the sales such as offering deliveries and additional advertising.
Another area of opportunity is that a new owner can expand the hours of operation to help generate more revenue.
The current sales reflect the business closing two weeks every year for vacation. The current owners also close on some weekends to take time off. Up until March of 2008 the business didn’t open until 10am, when other locations are open at 9am.
The current owners also close the business on all holidays. A new owner could increase sales by maintaining the 9am-10pm schedule, not closing for 2 weeks for vacation and not closing the store on occasional weekends and staying open for many of the holidays. Also, while most businesses are struggling in 2008 because of the economy and reductions in consumer spending, this business has seen an increase in sales.
*Note: A copy of the menu can be faxed or emailed to you upon request.
Asking Price: $206,000.00 plus inventory
Gross annual sales (approximately): $354,662.00 (As Stated By Owner)
Cash flow or net (approximately): $109,640.52 (As Stated By Owner)
Value of furniture, fixtures & equipment (approximately): $25,000.00
Value of inventory (approximately):
$3,000.00 (not included in asking price)
Lease details (approximately):
The lease expires in December of 2013 however the business owner has stated that the property owner is willing to provide a new owner with a 10 or 15 year lease. The Gross Rent is currently $2,500.00/month. The rent increases $50.00/month every 2 years. The space is approximately 1,383 square feet. There are approximately 25 seats.
Contact: Dennis, firstname.lastname@example.org or 312-360-1955