Excellent opportunity with huge growth potential for this very unique caff in a college downtown with a high volume of traffic. The current owner is retiring from this new, and highly successful Caff specializing in waffles, breakfast, brunch, lunch or desert. The business is currently operating with limited kitchen equipment and generated a 2013 gross income of over $430,725. The 2014 income is projected to be over $500,000. The seller is prepared to evidence a net income of approximately $92,000 working semi absentee, roughly 14 hours/week. This product is in high demand and competition is limited. The business has increased their sales by 30% every year for 4 consecutive years. New residential construction of over 250 single family units to be completed by early 2015 within 2 blocks away. This business is approximately 8 years in age, but has had some renovations this past year, leaving the new owner with no necessary upgrades. The triple net lease expires July 31st, 2022, with a current monthly rent of $4,425. The facility is 1,850 square feet with a full basement and patio for outdoor seating. Based on the asking price, required down payment and yearly net income, this business expects to supply a 32% return investment.The facility is 1,850 square feet with a full basement and patio for outdoor seating.
This particular business has seven part time employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll is approximately $10,000. Adjacent Municipal lots provide this business with ample parking for its patrons. The business operates seven days per week, 7am-4pm M-F and 8am-3pm on weekends. Based on the asking price, required down payment and yearly net income, this business expects to supply a 32% return investment.