IHOP, founded in 1958, is the 2nd largest family dining chain. IHOP offers a selection of lunch, dinner, snack items, and is distinguished by its broad pancake selection and breakfast specialties at reasonable prices. IHOP is strong positioning in the family dining segment has strengthened over the last 4 years and has consistently out-performed the family dining segment. This strong performance is due to menu enhancements, new product introductions, marketing improvements, restaurant updates and added standardization to operations. There are currently over 1,100 IHOP restaurants located in 48 states and Canada. (Minimum financial requirements - $1 million net worth and $250,000 in liquid assets). Weekend breakfast business can drive 60% of total sales. IHOP's overall market position in the family space benefits from a better value/quality. The chain's market is very broad, spanning 18 to 54 year olds of all races and gender.

All signs, fixtures, and equipment included except noted leases. Equipment is in good working condition at time of changeover.

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