MUST SELL- PRICE LESS THAN PROFITS- Rita's Italian Ice

Brea, CA (Orange County)

MUST SELL- PRICE LESS THAN PROFITS- Rita's Italian Ice
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Asking Price: Get Financing: $17,000

Cash Flow: $21,234

Gross Revenue: $132,365

EBITDA: N/A

FF&E: $30,000

Inventory: $6,000

Lease Rate: $2,467 /SF/Month

Established: 2016

MUST SELL- PRICE LESS THAN PROFITS- Rita's Italian Ice

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Business Description

PRICE REDUCED to $17,000 FOR IMMEDIATE SALE!

PRICED $19,000 BELOW FFE & INVENTORY!

PRICED $4,234 BELOW CASH FLOW PROFIT!

MEDICAL EMERGENCY FROM ACCIDENT FOLLOWED BY HOSPITALIZATION NOW FORCED RELOCATION MUST SELL!

We rate this Rita’s purchase opportunity as a solid purchase opportunity for an owner operator. It is sitting at a pivotal time where it went through a transition period for 2 years. The seller was hindered by a family emergency. After opening the owner's wife was in a terrible car accident which required hospitalization and the owner's care. They need to relocate to another state to be with family. All of this took place as the business was taking off in 2017 impeding his ability to spend time with the business.

2018 has been a great year for the business. 2018 sales YTD Sept was $132K compared to 2017 sales of $129K same period with profit margin increasing from a small loss in 2017 to Sept profits already exceeding $21K. Unfortunately, they have to relocate to be with family

The buyer will also be responsible for paying the transfer fee in addition to the price. Even with the Transfer fee included the price is less than the FFE & Inventory

It was priced below market value. before and now it has been reduced to a price well below its value.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
1,400
Lease Expiration:
N/A
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The location was strategically selected for the demographics of the area and proximity to the surrounding neighborhoods, busy highway, apartments, and many other populated areas. The location occupies a 1,400 sq. ft. shop with inside seating.
Growth & Expansion:
A new owner would benefit by adding mobile units and generating additional sales in the community. Mobile carts have the potential to increase revenue by an estimated $30K-$50K based on cart performance in similar markets. Profits can increase significantly for carts since the cart operates off the shop's expenses other than employee which is minimal.
Support & Training:
Rita's Italian Ice support team will provide to owner training and support
Reason for Selling:
To relocate to be near family
Contact Seller

Contact the Seller

(from currently available funds)
 
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Vernon Suemnicht

Business Listed By:
Vernon Suemnicht

sbdees

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Sponsoring Broker:
John Allen Dees

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