Business Summary:
Schlotzsky's Deli on 17th Street is the Home of the Original Sandwich and is the first "modern franchise" to open in Idaho Falls over 12 years ago. The location is excellent and with another 6 years before lease renewal. The Franchise offering doesn't only make "fresh" they bake fresh, every day. Their success is based on making fresh sandwiches and pizzas - frozen product should be for Margarita's. Schlotzsky's Franchise has been a leader in "fast-casual" now for over 35 years and is stable to continue into the future, offering the franchises, training, new products, major marketing and adverting displays, and a truly unique product mix. The Franchise is strong and growing. As of March 1, 2009 the owners have spent $60,000 in new equipment, upgrades and leasehold improvements. Location, Location, and Location - the three most important words in Real Estate apply to where this Business is located, off 17th Street and serviced with a separate light entrance into the Grand Teton Mall. The Grand Teton Mall enjoys serving not only the community of Idaho Falls but also that of the surrounding area. The market area that shops at the Mall is estimated at 200,000 and at last count 17th Street was recording 60,000 cars per day. The location, the menu, the staff, and owners are all committed to making this restaurant the primary dining place for mall shoppers and repeat customers. The rent at $3,506/month is very competitive for a prime 17th Street location. The restaurant has 2,600 square feet and has recently been updated for the second time in five years. The Deli operates independently from owner participation but any small business needs to have consistent supervision and frankly the owner just does not have the time to commit and needs to liquidate. All offers will be considered.
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Growth/Expansion:
This is a turnkey operation that is well supported by the Franchise. The restaurant is first class including menus, signage, access, and availability off and onto 17th Street. Actual adjusted cash flow for the last three years has averaged $100,000 per year. There is so much more the store and business can do but to operate as is would be very successful. The project has a preliminary approval from a local lender based upon the buyer having a good credit history, a low debt-to-income ratio, and a 20% down payment. |
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