This bagel store is part of a 22 store well recognized NJ brand. The franchise agreement requires only that the Franchisee purchase the bagels from them. It's the best of both worlds! There are no royalty payments and the bagels are supplied by the franchisor which means no overnight work needed to make them/no risk of you getting stuck there all night if the baker calls out sick. This store has been in the same location for 15 years and is well known in this affluent beautiful town.
The store does over 641k/yr which is a heck of a lot of revenue for a bagel store. In the summer, they sell 1500 dozen bagels/week! Store is open every day from 6am-1:30pm. The store seats 18 people comfortably with room for more seating! Rent is very cheap at $3,100/month all in (including CAM and taxes). The owner recently renovated the store and it looks spectacular. Store is located in a booming shopping center on a busy highway.
After owning the store for 2 years, the seller decided to go into another unrelated retail business with family and does not have time to focus on operating this store. Because of that, he wants to sell quickly so he can turn his focus to his other store. Seller only spends 20 hours/wk in this store so there’s tremendous upside potential for a buyer to work full time and increase sales significantly through catering and wholesale, which the current owner does not focus on. In addition, because the seller isn’t focused on the business, his payroll is much higher than it needs to be and cutting it would significantly increase the cashflow.
This is a real seller who will transact quickly and efficiently. If you don't have any experience in bagels, food, or retail, and are looking for 3 years of audited financials to get bank financing, this one may not be a fit. If you are a savvy cash buyer that understands that this is a bagel store and can get a feel for the business operation the old school way, buy this tomorrow.
The last bagel store we sold went into contract after just 10 days on the market and the bagel store we sold before that went into contract after just 3 days on the market! Get ‘em while they’re hot my friends.
*Signed NDA and proof of funds required*
CALL ELLIOT IF YOU WANT TO SELL YOUR BAGEL STORE! (917) 757-7715
Ad#:2418491
