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Primary Industry C1400 | RESTAURANTS | Category | BREAKFAST AND/OR LUNCH | | Business Description | Established IHOP Franchise | | SIC Code | | Organizational Form | Corporation | | General Location | East Ventura County | | Selling Price | $750,000 | Down Payment | $750,000 | | Annual Revenues | $1,006,928 | Discretionary Earnings | $178,914 | Seasonal? N Can Relocate? N Home Based? N Absentee Owner? N Franchise? Y | Days and Hours
of Operation | 7 days a week. 6 am - 10 am | Year Established | 1983 | | Years Owned | 7 | | Full-Time Employees | 4 | Part Time 20 | Managers | | Other Payroll Information | | | Hours Owner Works | 25 hours/week | | Owner's Duties | | | Skills Required | | | Training & Cost | Franchiser will train. | | Non Compete | TBD miles for TBD years |
Executive SummarySame location for 23 years! This profitable restaurant franchise is ideally located in a beautiful Southern California community. The restaurant is situated inside of a heavily trafficked shopping center and is easily visible from the lively main street of the community. The center is within walking distance from a dense residential neighborhood and busy commercial area and so receives a great amount of vehicle and foot traffic. Most IHOP franchises require you to lease the furniture, fixtures, and equipment but this restaurant has already purchased the equipment and it will be included in the purchase price. Great lease and high profits make this an opportunity not to be missed! While the store is clean and well maintained, the new owner should look forward to remodeling the store to meet the newest franchise requirements. Therefore, the price has been discounted accordingly. Confidential business information provided to qualified buyers. Marketing Information | | Company History | IHOP restaurants are now one of America’s favorite restaurant chains and there are 1,328 locations spread across the continental U.S., Virgin Islands, Canada, and Mexico. The franchise has rapidly become the quintessential family restaurant with its award winning pancakes, omelette’s, and other breakfast specialties as well as their excellent lunch and dinner menu. | | Financial Summary | According to franchiser, buyer should have previous restaurant/food service experience as well as a minimum $1,000,000 net worth with $300,000 in liquid assets. Buyer must be qualified by franchiser in order to purchase this business. |
Lease / Building Information | | Monthly Lease/Rent | $15,282 | | | | Expires | 1/1/2016 | Building Type | Shopping Center | | Terms & Options | One ten year option | | Square Footage / Dim. | 7000 | Seating | approx 200 | | Other | |
Assets (Y=Included / N=Not Included / A=Available) | | Accounts Receivable | N | | Licenses | N | | | Inventory | N | | Type of License | | | | L/H Improvements | Y | $100,000 | Other Assets | | | | Furniture / Equipment | Y | $200,000 | | | | | Real Estate | N | | Total Assets | | $300,000 |
Financing | Third Party Written Approval ND | | | Note Amount | Rate | # of Payments | Payment Amount | | Seller | | | | | | Assumable | | | | | | Non Seller | | | | | | Notes: | |
Financial Information | | | Year and Source | 2007 | Owner to Prove | | | | | | Gross Revenues | $1,006,928 | | | | Cost of Goods Sold | | | | | Gross Profit | $1,006,928 | | | | Payroll | | | | | Expenses | $828,014 | | | | Net Profit (before taxes) | $178,914 | | | | | Depreciation/Amortization | | | | | Interest | | | | | Owner Salary | | | | | Fringe Benefits | | | | | Other | | | | | | | | Other | | | | | | | | Other | | | | | | | | Seller's Discretionary Cash | $178,914 |
Information contained herein has been provided by the seller. Broker has not and will not verify the accuracy or completeness of any information. Purchasers are advised to consult with their legal and financial advisors to the extent they deem necessary.
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