Hotdog Fastfood Restaurant for Sale in the North Suburbs of Chicago IL

Glenview, IL (Cook County)

Seller Financing Available
Hotdog Fastfood Restaurant for Sale in the North Suburbs of Chicago IL
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Asking Price: Get Financing: $325,000

Cash Flow: $120,265

Gross Revenue: $756,635

EBITDA: N/A

FF&E: $75,000

Inventory: $8,000*

Lease Rate: $5,225 /SF/Month

Established: 2010

*not included in asking price.

Hotdog Fastfood Restaurant for Sale in the North Suburbs of Chicago IL

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Business Description

Busy Hotdog Business!!

This business is a dine-in and carry out fast food restaurant with plenty of seating for customers that want to dine in. Delivery and Curb Side service is also available. This is NOT a franchise, so there are no royalties or franchise fees.

Located in the North Suburbs of Chicago, Illinois (Cook County) Sale includes: the Business, all Equipment & all Fixtures.
Purchase Price / Business only = $325,000 plus inventory

This business is a well-known local dine-in and carry out fast food restaurant opened for business in the North suburbs of Chicago, Illinois in 2010. Menu items include hot dogs, burgers, sandwiches, pitas, wraps, sides, salads, desserts & ice cream. This is not a franchise, which means you don’t have to pay any franchise fees and on-going royalties.

The current owner-operator works full time and has 11 employees, including a full-time manager. The owner developed a staff of competent and loyal employees following systems that allow for the owner to focus on overseeing the business and having the ability to take time off when he wants.

One of the first thing you’ll notice when visiting this restaurant is how clean it is and how well maintained the equipment is. The leased space has 1,900 square feet and has a unique additional upstairs loft seating area, a storage closet with convenient maintenance access to important equipment, and an office for getting administrative work done. There’s a a popular outdoor seating area with four tables and sixteen chairs out front in a courtyard-like setting with nice landscaping maintained by the property owner.

Revenue and cash flow have grown steadily the last three years and the business still has great potential for continued growth.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
1,900
Lease Expiration:
12/31/2029
Employees:
11
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Note: Owners will consider a small amount of financing for a well-qualified buyer. Asking Price/Business only: $325,000 plus inventory Gross Annual Sales (approximately): $756,635.00 Cash flow (approximately): $120,265.00 Value of Furniture, Fixtures & Equipment (approximately): $75,000.00 Value of Inventory (approximately): $8,000.00 Lease Details (approximately): The current lease (including options to extend) expires December 31, 2029. The space is approximately 1,900 sq ft. The Gross Rent is $5,225/month, including the Real Estate Taxes & the Common Area Maintenance Fees. They have their own parking lot for customers. Inside, they have seating for about 59 people & about 16 seats outside. Seller Financing: Owners will consider financing a small portion of the price for well qualified & experienced buyer/operators.
Competition:
The current lease expires in December of 2019, with an additional two 5-year options, allowing the lease to continue through December 2029. The monthly rent is currently $5,225 is fixed until January of 2020, when the payment will increase 3.5% annually. Maintenance, snow removal and property tax contribution are included in the rent.
Growth & Expansion:
The business has an established website that includes their full menu, brief history of the business, and some basic details. Their website links to Facebook and has a nice following there with 500+ followers. The website and social media is a big area of opportunity, now that the age of the site is well established, some investments in SEO and modernizing the website could pay off big for driving online traffic. Developing some content to use for blog and social media posts about the restaurant, daily or weekly specials, and local events is an increasingly important way of engaging regular customers. In addition, implementing online ordering or an opt-in mail email list are additional opportunities to make more use of the website. Since this business is so well known in the area, with such a memorable name and positive reputation, an operator interested in scaling the business by opening or converting additional nearby locations would have an advantage by leveraging that goodwill and name recognition. The online ratings and reviews confirm the reputation and are overwhelming positive, with a 4.8 rating on Facebook, 4.7 on Google, 4.5 on Yelp, and 4.6 on Doordash. Other areas of opportunity are expanding the hours of operation, opening Mondays, or staying open later Fridays and Saturdays. Or making a big push to cater residential and commercial events. This is a growing, consistent, and profitable turn-key investment with plenty of opportunities for a new owner to grow it even further!
Financing:
Owner will consider small amount
Support & Training:
Owner will provide some training for the buyer.
Reason for Selling:
Owner is considering retirement.
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(from currently available funds)
 
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Tony Gavros

Business Listed By:
Tony Gavros

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