well so heres the story. (im told) the owner and his partner are both elderly and had very inconsistent hours and days they were open.
they built this business about a year ago and paid for the ten year lease upfront.
so now their is 9 years left on the lease (1700 pm)
and they want to sell...
what would you guys call fair value for a place
980sqft
In very good location (Northgate way) Seattle
Closed not running
Fresh remodel
includes everything (walk-in, Bakers Pride Oven, class one hood, pie board, )
the only thing it needs is food and owner
3k per month lease
no NNN
They want 90k...
heres a list of the food places in my mall
sabarro
subway
cinnabon
moncu WOK
orange julius
Kojo Japan
Ivars
Mcdonalds
los 3 hernaros
Mongolia grill
and a icecream place
so i just moved all of the equipment into storage and now its time to figure out what to do ( normally i would of done this before i made the purchess but hey i got a good deal so who cares)
I have started my counts at the local mall
heres what the numbers looked like
( slow tuesday night at...
Update… so i closed the deal and bought all of the equipment from a local pizza place got everything in the store. was able to buy out the lease for a small fee and also separated from the franchise. and now im planning for my own store!! for 5k!
anyhow the question (S) at my local mall (a very...
Congrats on the new oven!
What do you think of Marshall ps536’s… i don’t want to hijack your thread but you seem to know a lot about ovens.
the place i may be buying has a triple stack of these
Re: looking into the possibility of buying an existing franc
so i just got the model number of the oven
its a triple stack
Marshall Ps536gs
whats the value of one of these
it was used and maintained by Costco before this guy bought them
Re: looking into the possibility of buying an existing franc
Charles:
this guy works at a big plant in this area and is never at the shop his x used to run it. now he just wants out i plan on moving it and giving it a fresh start.
plus in a couple of years i may drop the franchise and just...
Re: looking into the possibility of buying an existing franc
OK so i finally got some info on the restaurant over the phone i get to see the lease and all of the numbers on Wednesday.
so here it goes
shop doing 12-15k a month average
4k food per month
700 week labor
1400 rent
every 4 months...
Re: looking into the possibility of buying an existing franc
Wizzle Wassell:
lol i personally don’t believe in the huge phone book adds but if that’s what i have to do so be it
OMG worst super bowl ever////// man make it monday i cant wait… now my question
i’m hopefully getting to see numbers tomorrow and the monthly bills. but i want to make sure i don’t miss or forget about anything. can some one think up a list i have tried and i think im missing some stuff.
I got...
Re: looking into the possibility of buying an existing franc
bodegahwy:
The CEO told me we can move wherever i want to. but what he says and what the agreement says are two totally different things i understand that. And i will understand if i cant move it in to my city. although i had a very...
Re: looking into the possibility of buying an existing franc
so some of you aren’t sure this is a good idea for me to invest in i can understand that.
but essentially i get to own and experiment with marketing and all aspects (don’t get me wrong i know how to run a shop)
and own all of the...
