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Very Profitable Rita’s Italian Ice Franchise

Hampton, VA (Hampton City County)

Very Profitable Rita’s Italian Ice Franchise
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Asking Price: $180,000

Cash Flow: $64,924

Gross Revenue: $276,133

EBITDA: N/A

FF&E: $80,000

Inventory: $1,500

Rent: $2,681 /Month

Established: 2013

Very Profitable Rita’s Italian Ice Franchise

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Business Description

Rita’s Italian Ice serves two core products in creative combinations: Italian ice and frozen custard. That alone makes Rita’s unique among all the frozen dessert and ice cream franchises out there; no one else offers what Rita’s offers to their guests.

Established since 2013, this is a great Rita's location. It has become a favorite gathering spot for friends and families in the surrounding community. The Rita's has a 4.5 Google rating and 72 reviews.

It is located on an end unit and has a drive-through window offering guest a choice of options for service.

2017 the Sales were $276,133 up from 2016 sales of $267,461, and 2018 sales are on track to exceed 2017 sales.

2017 normalized profits were $64,924 with 2018 profits projected to increase to $75,000.

Detailed Information

Location:
Hampton, VA
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
1,250
Lease Expiration:
N/A
Employees:
15
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Located in off of a major road in a strip center next to a Subways restaurant and Little Caesars Pizza. Both act as feeder businesses to the Rita's. 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 1,250 sq. ft. shop with inside setting having 4 tables and 3 benches. Outside on the fenced-in patio, there are 2 tables and 2 benches, so there is plenty of room for parties and gatherings.
Competition:
It is the only frozen dessert ice cream shop within a mile radius.
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:
Retirement
Franchise:
This business is an established franchise
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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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