Gastrobar Franchise Near Downtown Chicago-Over 4M In Sales For Sale

Property Information

Real Estate:

Lease

Lease Terms:

Lease Information: Leased space $15,986/mth gross (tenant pays gas and other direct utilities; landlord assessment covers certain building services). Current lease expires Nov 2030 with two 5-year options.

Location:

Strategically located on Chicago's vibrant near west side, just minutes from downtown, in a thriving mixed-use urban neighborhood surrounded by residential developments, universities, medical facilities, offices, restaurants and retail.

Benefits from substantial pedestrian activity, nearby public transportation, convenient expressway access and a built-in customer base of students, professionals, neighborhood residents and visitors.

Located within a thriving urban trade area featuring a dense population, attractive household incomes and a highly educated demographic. Within 3 miles there are 410,804 residents and 216,954 households with a median household income of $116,930!

Premises Details:

Year Established: 2015.

Seating: 149 Inside & 40 Outside.

Owners Role: Absentee owned and operated with a management in place.

Size in square feet:

4,928 + Basement

Business Operation

Management type:

This business has absentee ownership.

Expansion Potential:

Excellent opportunity for a hands-on owner-operator to further increase profitability through active management, enhanced labor efficiencies and local marketing.

Expand group dining, private events, corporate functions and university-related gatherings as well as catering. And a substantial opportunity to grow online ordering and delivery, currently representing only ~3.5% of sales.

Further capitalize on its extensive draft beer system, cocktail program, happy hour promotions, sports viewing and late-night business, in addition to its 40-seat patio in the warmer months.

Loyalty programs, operational support and national franchise marketing provide additional opportunities to build on an already highly successful business!

Competition / Market:

A well-established national gastrobar concept with strong brand recognition, an extensive beverage and food menu, plus nearly 11 years of operating history. Its multiple revenue streams include lunch, happy hour, dinner and late-night dining, plus takeout and delivery.

Strategically positioned in a densely populated downtown Chicago market with a diverse customer base, significant university and institutional activity and excellent access to public transportation.

Strong bar sales, outdoor seating and an established local following help distinguish this operation from traditional casual drinking and dining competitors!

Reasons for selling:

Pursuing other projects.

Trading hours:

Su-Th 11a-12m & Fr-Sa 11a-1a

Employees:

10 Full-Time & 25 Part-Time

Years established:

11 Years

Franchise Information

Franchise opportunity:

Franchise Resale

Franchise terms:

Franchise Royalty/Ad Fees: 5% / 3%

Franchise Transfer Fee: $5,000 or 10% of the then-current initial franchise fee, whichever is more

Other Information

Support & training:

Comprehensive franchisor training which includes classroom and hands-on restaurant operations training, plus on-site support. Covers management, bar and kitchen operations, financial controls, staffing and marketing. Ongoing franchise support is also provided.

Financing available:

No.

Furniture / Fixtures value:

$400,000 - included in the asking price

Inventory / Stock value:

$30,000

Related Documents:

•   Business Information