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Priced to sell! This sandwich franchise has been open for over 20 years and offers an excellent opportunity for a buyer to get in at a low price as employees start to return to their offices post covid. It also has very family-friendly hours since it's only open Monday thru Friday 10a-2:30p, which means evenings and weekends off! How often can you do that in the restaurant business?
Schlotzsky’s opened its first location in 1971 with a small restaurant on South Congress Ave. in Austin, Texas. They specialize in combining fresh ingredients, unique flavor combinations and the spirit of originality to give you a food experience that you won’t find anywhere else. The company now has over 300 locations and spans across 35 states, serving up toasted sandwiches, artisan flatbreads, specialty pizzas, freshly tossed salads, gourmet soups and more. Schlotzsky's is owned by Focus Brands, which also owns Carvel, Cinnabon, Moe's Southwest Grill, McAlister's Deli, Auntie Anne's and Jamba brands.
The business for sale is located in an office retail center and offers dine in, take out, delivery, and catering services. It also includes a Cinnabon franchise. The business consists of 2,979 square feet with monthly lease costs of $5,900 including CAM. The lease has eight years remaining plus two 5-yr options.
This business was established in 1998 and currently has 4 employees. Prior to the pandemic sales ranged between $350,000-$380,000 per year. Per seller's pro forma, sales are estimated at $365,000 with discretionary earnings of $88,000 for 2022. The listing price includes FF&E of $82,000, Leasehold Improvements of $50,000, and Inventory of $5,000. The seller is motivated to sell and wants to pursue another career opportunity. The seller will provide two weeks of training in addition to the training provided by franchisor.
This location would be perfect for an owner-operator that enjoys working with people and prefers to have evenings and weekends off. There is a lot of potential to increase catering and delivery in the area to nearby businesses. There is also an opportunity to extend store hours to include breakfast in order to maximize Cinnabon sales.
Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.