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4 Experience-Based Profit-Serving Restaurant Chain

San Jose, CA

Seller Financing Available

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Asking Price:$10,000,000
Gross Revenue:$8,214,000
FF&E:$1,000,000
Cash Flow:$816,317
Inventory:$30,000
Established Year:2004
Listing ID: 2172069Listing provided by BizBuySell
BUSINESS DESCRIPTION

A group of 3 experienced-based restaurants located in tourism-centric cities (with a fourth opening soon) is available for acquisition by a larger restaurant group.

The concept – a convergence of an American buffet and hibachi grill – creates a personal interactive dining experience for couples, families, and large groups that brings in more than $3 Million in sales per location.

The entrepreneurs were the first/prime franchisee. Years later, they acquired the original restaurant and took over the entire enterprise. Instead of offering additional franchises, each of the three open restaurants is owned by the same group of people.

What provides a huge attraction for diners of every age and a great advantage for the owners is the semi-self-serve, low-server labor matrix that comes from not having a set menu.

A fresh market of ingredients inspires hundreds of combinations of meals that cater to personal diets, and individual tastes on any given night. Cooked right in front of them and served hot off the grill.

Based on nearly 4,000 total Yelp, Open Table, and Google reviews, the public perception regarding the restaurants, their customer service, and value have been very positive, averaging more than 4 stars.

NDA is required to secure comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.

DETAILED INFORMATION
Location
San Jose, CA
Inventory
Included in asking price
Employees
250
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
The four locations average 5,100 square feet each. The East Coast restaurant is the largest with more than 7,500 sq. ft.; while the mountain location is the smallest at 3,500. It and the SoCal location each have an additional 2,000 sq. ft. or more, of outside dining area. Only one lease is coming up within the next year.
Competition
This chain of restaurants stands out from typical ‘all you can eat’ (AYCE) buffet restaurants, like Fogo de Chão, where the food is prepared and cooked prior to the diner's arrival because here guests get their chosen meals cooked to order. Although other specialty restaurant cooks in front of the guests, it is usually in a group setting with a sparse menu. Smaller, local ethnic-based restaurants come closer to the experience, but ingredient choices are limited. The customer base, however, is most similar to those of Bubba Gump and California Pizza Kit
Growth & Expansion
To spur revenue, it is suggested to increase local marketing during the tourist offseason, making social media postings consistent across locations, along with increasing frequency.
Financing
TBD if the structure and terms are acceptable.
Support & Training
To ensure a smooth transition and ongoing success the Sellers will work with a buyer as needed as paid management or on-call consultants, as negotiated.
Reason for Selling
Ready to be scaled now. With capital & vision, rapid growth is highly feasible.
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Terie
Salinas
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Terie Salinas
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