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Food Business - Best Location at Newport Beach Peninsula with $100,000 Cash Flow
Location California,United States
Asking Price Range < $250K
Gross Revenues $450000
Net Profit / Cash Flow $100000
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 2002
Number of Employees 4 - 5
Inventory 65000
Relocatable No
Number of Employees 4 - 5
Real Estate Leased
Reason for Sale Had to move for custody of child
Description The location merits our asking price alone. It is the best spot in the Peninsula. It is a corner location that everyone that comes from or to the beach and / or pier has to pass to get from or to the Balboa Fun Zone / wharf. Additionally, most who drive down there will pass the location because it is where the public parking is. The city is putting in a ton of money to rejuvenate the area since they are almost done with repaving all the roads. You will find they are building and opening a theater two doors down. In the last year, they have put in over 3 million dollars into the theater alone. Anyone who is going fishing or down to Catalina also passes our location and there are tons of bars that are open around the location, so that you can take late night business since no one else is open. These 2 factors alone make it so the location can be
lucrative as many hours of the day that you are open. In Aug, we did around 40k. In June and July, we did about $30k in each month. We acquired the place on Memorial Day wknd. Therefore, we have only had the place for 3 months, or so and have done over $100k. Originally, the place was an Orange Julius that a man ran very lucratively for 25-30 years. It has been an incredibly good opportunity for us. We would not sell it, but we have had to move back to NV. Our manager is moving to NY. This is the only reason this opportunity is available, otherwise, I would think we would keep it for decades. When you go down, please note that the prices are tourist prices. We have
about a 10%-17% food cost on smoothies and anywhere from 17%-25% on other foods. We get $5.75 for a Philly Cheese Steak (nothing includled) and an average of $4.59 on smoothies. We have a walk-in freezer and refrigerator, a grill, a chicken rotisserie and a lot of other major equipment. The seating capacity is 58. Rent is extremely low at $2,584 for A LOT of space. Lease =2+5+5+8 Contact Rhianna at (702)300-3384 for more information.
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