EL CHICO CAFE MEXICAN RESTAURANT & BAR # 18894
Seller:
Attn:
Jeff Adam, PE, MCBC, FRC, CBB
Location:
Granbury, TX, USA
Listing Number:
"18894"
Overview of the Business:
A casual full service Mexican restaurant and bar fronting busy highway 377 in Granbury, Texas. The interior features a crisp, clean decor that reflects the interior of Mexico. Menu items are prepared fresh every day and include Top Shelf™ selections from enchiladas to quesadillas to margaritas. The restaurant has a reputation of outstanding, friendly service delivering quality foods and large portions. The facility is well-designed, functional and meticulously maintained since built in 2005. Experienced management is in place and are expected to stay for a new owner. The franchise traces its roots to 1940 in Dallas and now numbers ~75+ restaurants in Texas, Oklahoma, Louisiana and the South. Price: $350,000 including $10,000 inventory and all FFE (Furniture, Fixtures & Equipment) valued at $450,000. The purchaser will need to assume dishwasher lease ~$210/mo incl maint/supplies and water softener ~$93/mo.
Property Features and Assets:
The ~5,600 Sq. Ft. high visibility space is located in the west end cap of Pecan Plaza Strip Center. The facility seats 219. The monthly lease is $10,474.99 (including NNN: $373 CAM + $980 prop tax + $163.33 insurance) + 3% of any sales in excess of $2,500,000 per calendar year. The security deposit is $1733.33. The 15 year lease expires approximately May 2020 with two 5-year market renewal options. The purchaser is responsible for any real estate lease application or transfer fees.
Comprehensive training is provided by the Franchisor. Initial and shift manager training (~4 weeks) is required depending on the purchaser’s industry skills and experience. The seller will also provide 2 weeks training and ongoing telephone support, as mutually agreed, to ensure a seamless ownership transition.
Market Competition and Expansion:
This is a strong location with excellent potential. A new owner can continue to grow the business and profits in several ways: • Promote bar Beer & Wine, Liquor sales; • Add billboard on 377 both directions; • Promote catering to local businesses, sports organizations and schools; • Direct mail surrounding neighborhoods using mail list; • Local advertising and marketing; • Direct market to churches and boating community.
Additional Details:
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