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Listing ID: 1045207

Profitable Established Mr Jims Pizza For Sale

Fort Worth, Tarrant, Texas, United States

BUSINESS SOLD

Revenue: $ 300,000

Cash Flow: $ 45,000

Business Description

MegaBite Restaurant Brokers, LLC offers, for your ownership consideration, a ~29 yr established pick-up and delivery Mr Jim’s Pizza franchise in the north Fort Worth, Texas serving an exclusive territory in North Tarrant County. This profitable location has very low hours of operation, a compact delivery area and is located in a fast growing region. The business has steady sales with relatively little advertising expense. TO MINIMIZE BUSINESS INTERRUPTION, PLEASE DO NOT CONTACT THE BUSINESS DIRECTLY.

The owner completely remodelled the current facility in Jan 2013 including new tile floor, new compressor for walk-in/roll around freezer, new ice cream freezer and chest freezer, new water heater, R40 insulation added, new phones and a complete POS system. The owner was subsequently semi-absentee allowing the GM to operate the business. Beginning Sept 2014, the owner assumed general management responsibilities and has been operating the business hands-on approximately 25 hrs/wk.

The greatest strength of this business is its ~29th year with an established strong reputation with schools, booster groups, teams, businesses, hospitals, youth associations, … and, of course, the general public. The restaurant is clean, spacious and well-organized.

The asking price for the assets of the business is $68,000 ALL-CASH or $100,000 with $40,000 down and $60,000 seller-financed (5 years, 8%, monthly payments $1,216.58/month) to a qualified purchaser. The assets include inventory at cost of $3,000 and FFE (Furniture, Fixtures and Equipment) valued at $30,000. Purchaser is responsible for any franchise application or transfer fees (estimated at $2,500).

Mr Jim’s Pizza franchise was established in 1975 and has over 50 locations. Royalties are 6% of sales or a per pizza box bundle rate. Some corporate advertising and graphic design work is included. The estimated cost for a new, unproven location is $125,000 to 150,000. The franchise agreement has a defined exclusive territory. Orders can be telephoned or placed online.

Property Details

Years Established:

1985

Property Type:

Lease

FF&E:

$ 30,000

Inventory Value:

$ 3,000

Other Details

Business Location:

29 yr established pick-up and delivery Mr Jim’s Pizza franchise in the north Fort Worth, Texas serving an exclusive territory in North Tarrant County.

Premise Details:

Business occupies approximately ~1,000 SF in a busy strip mall on a busy boulevard. Current monthly rent is ~$1,552 ($1,185 base + approx $367 NNN). The current lease expires approximately Dec 31, 2017. Purchaser is responsible for any Lease application or transfer fees. The seller believes that the landlord is willing to offer a long-term lease to a qualified buyer. The floor plan includes Reception/order counter, restroom, large kitchen with walk-in refrigeration, small office, plenty of prep area and storage space.

Expansion Potential:

This is a strong location with excellent potential. A new owner can SUBSTANTIALLY grow the business and profits in several ways: 1) hands-on owner-operation, 2) expand operating hours, 3) expand delivery area to the northeast and northwest, 4) reduce labour cost by hands-on owner operation, 5) increase pricing, 6) Build catering business with new family-sized portions , 7) Internet marketing via Facebook, Constant Contact, Website, Yelp, …, 8) Continue to build on-line ordering from current level of approximately 35%

Operation Details

Employees:

10

Support & Training:

The seller wishes to ensure a seamless transition with a purchaser. The franchisor will provide general operations and management training as part of the franchise transfer fee. The seller will train a purchaser for 2 weeks included in the purchase price.

Miscellaneous

Financing Available:

Yes
Price $68,000 ALL-CASH or $100k with $40K down and $60k seller-financing

Reason For Selling:

Semi-retirement

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