Subways on Olympic Peninsula 2-store Franchise for Sale

Port Townsend, WA (Jefferson County)

Seller Financing Available
Port Townsend Seaport Village
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Asking Price: $600,000

Cash Flow: $100,000

Gross Revenue: $1,000,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $2,810 /Month

Established: 1993

Subways on Olympic Peninsula 2-store Franchise for Sale

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Business Description

Rare Opportunity to own 2 Profitable Stores in Desirable Locations!

This is a rare opportunity to purchase a 2-store franchise, one located in Port Townsend and one in Sequim. This area of the Olympic Peninsula is a vacation destination for visitors from all over the world plus is an idyllic community to call home. Port Townsend is a Victorian Seaport Village and Sequim is the Lavender Capital of the US!! These two stores are anticipated to generate $1 million in gross revenue by 2019 year end. The owner has been a "hand's on' owner since purchasing the Sequim store in 1993 and building the Port Townsend (PT) store in 1999. The list price for both stores is $600K: break down is $450 for Sequim and $150 for PT. Subway Corp. has a planned refresh/remodel for all stores in this region sometime in the foreseeable future. The estimated cost for this update is approx. $50K/store, which is built into the list price. If a buyer prefers to provide their own financing for the remodel the price will be reduced accordingly.
The seller is motivated and will consider any reasonable offer, and, will consider carrying paper for a portion of the purchase price.

Detailed Information

Location:
Port Townsend, WA
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
1,776
Lease Expiration:
N/A
Employees:
15
Facilities:
All furniture, sandwich units, refrigeration, ovens, cooling racks, etc are included in the sale. Both stores have newly negotiated 5 year leases with 3 5-year options. The Sequim store is 1210 sq. feet and has a spectacularly low rent of $1250/mo. The PT store is 1776 sq. ft and has rent of $2810. Both stores have ample parking. The Sequim store is located in a popular shopping strip near the local Safeway and the PT store is ideally located across the street from the Ferry terminal and has very desirable onsite parking.
Competition:
These stores are the only Subway stores in each town. The PT store is one of only two fast food franchise's in town, with the Subway location being the only fast food dining option in the historic downtown village. Both are in prime locations, and have loyal customer base.
Growth & Expansion:
Subway Corp. is currently in the process of refining, refreshing and updating their menu options and condiments in order to appeal to a wider market. This is a great opportunity for a new owner with fresh perspective and energy to increase revenue with a marketing campaign to local businesses, schools, newsprint coupons, delivery service, etc.
Financing:
Sales price includes credit for upcoming REFRESH remodel
Support & Training:
Subway Corp. requires all new Subway franchisees to attend a one week training in Connecticut and the current owner is happy to provide additional support, advice and training in order to ensure a successful transition for the new owner.
Reason for Selling:
Owner says it's time to retire!!
Franchise:
This business is an established franchise
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Business Listed By:
michael davis

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