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Listed by:

NorWest Business Sales, Inc.

Broker license number: 840700006

Sandwich Shop And Deli With Catering In Portland For Sale

Portland, Oregon
Asking Price:
$40,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$185,000
Cash Flow:
Under $50K

Urban Pantry is a local start-from-scratch business that opened in 2013, offering prepared “Heat & Eat” style meals, in-store dining and full deli and catering menu. Urban Pantry’s business is steady, the catering is regular, and the place is positioned for growth, however, the owner is lacking the time and commitment that is needed to take her business to the next level.

Located at the base of a building with 200 apartments, and 25 apartment buildings within walking distance. Refrigeration is in great shape, HVAC well maintained. The space is very clean and visually pleasing to customers.

Seller has small children and needs more time with them. She is mostly absentee.

This shop is the only local place on the block, and the neighborhood loves it.

(Message from the Seller)
There are a lot of different income avenues that can be taken full advantage of, that we have not pursued do to my lack of ability to invest time in the business. Here is a short list of changes that would immediately raise revenue with an owner physically present:

PROMOTE MEAL PLANS: Residents in the Pearl District are busy, employed people with money. I used to do meal plans for a limited number of customers. Some had dietary restrictions, but most just needed quick meals that were healthy. I never advertised this, in fact I was a bit afraid to, because I did not have the time to do an excellent job of fulfilling customer needs on this level. If you have a chef/cook who can plan and prepare Meal Plans, there’s really no limit to the income potential. Meal Plans are profitable because they are like mini catering orders, so the prices can be marked up and extra 10%. Customers come in off the street and inquire about Meal Plans almost every single day, and if our Meal Plans were properly advertised, there would be great income potential. A good thing about Meal Plans, like catering, is that you can plan ahead for them and it helps keep labor tight and food cost down. Being able to “plan” to use up your perishables on the meal plans because you have freedom to adjust the menu is extremely valuable.

PROMOTE CATERING: The Shop partners with Portland Pedal Power, a sustainable catering delivery and dispatch service. The service sends the orders to you. This service is responsible for paying half of shop's rent each month, however, I have pared the catering menu down to only “easy” items that any employee can make anytime. New ownership could easily expand the shop's catering menu, making it more interesting and generating more catering orders. Portland Pedal Power would help drive more catering our way if we could only expand our menu, but I do not have time to.

I’ve regularly had to turn down catering orders due to my time constraints and parental obligations. I’m not doing the level of catering the place is capable of because I simply have not had the time to do any R&D, menu planning or any further training… but if you are willing to put in a few R&D and training hours, the catering orders are there if you want them!

Catering through Portland Pedal Power:
Another great thing about Portland Pedal Power’s catering service is that they allow some freedom with the ingredients, making it possible for us to keep food costs down by using up what we have on hand. This is part of PPP’s sustainability practice.

ONLINE DELIVERY ORDERING: If the website were set up properly, and customers could order “Heat & Eat” meals and pay for them online, I believe H&E sales would increase dramatically. Right now we have online ordering, but, the customer cannot pay online, they still have to pay when they pick up, which I feel cancels out the convenience of online ordering. Also, delivery services could be set up for the H&E meals so that people can order several days worth of meals ahead and have it delivered. This type of service is wildly popular, and I have not had the time to work through the logistics. There is a lot of potential for sales here.

OTHER ONLINE SALES: This shop makes its own spices that are highly marketable. They give our food a signature flavor. I used to sell them on the shelf in the shop, and they’d sell out quickly (too quick) and again I could not keep them stocked. I could have paid minimum wage employees to make and assemble the spices, but I struggled to just get the day-to-day duties done (and still be a good Mom) without taking on peripheral projects. If you buy the business, the spice recipes are all yours!”

DELI MENU EXPANSION: In the same vein as the above-mentioned ideas, I have kept our deli menu as simple as possible (while trying to keep it interesting) but there’s a lot of potential to offer more interesting things. We only have 1 kind of soup, this could easily be turned into 2-3. Our lunch specials could be a lot more exciting, bringing our regular lunch customers in more frequently. I haven’t had the time to train the manager on anything more than basic variations on our current menu items to use as specials. The bakery up the street (Lovejoy Bakers) offers upscale, foodie-centric sandwiches and soups, and while I have always wanted to step up our game on those, I’m not able to come up with the recipes while caring for my child and pursuing my new career.

DISPLAY COOLER: The addition of a large, traditional “deli counter” display cooler is something that would do VERY well in this neighborhood. I have not had the capital to purchase a nice one, but I feel strongly that if customers could see the Heat & Eat pans and visually pick their entrees, the whole space would make much more sense. If I were to purchase this business as-is, I would immediately add a brightly lit, glass front case to display the foods and I am certain it would increase revenue.

Property information

Real Estate:

Lease

Lease Terms:

Expires in Jan. 1, 2020 and has a 5 year option to renew. There is a base lease amount $2,566 plus $542 Triple Net. Present lease total = $3,107

Leasehold Rent:

$44,400 per annum

Location:

This shop is located on NW Lovejoy in the heart of Portland's Pearl District. It is directly on the Streetcar line, sandwiched between a FedEx store and a lovely flower shop, with a Starbucks 2 doors down and a Safeway 1 block away. 820 sq. ft. Rent is $3,107 which includes 3N and Cam charges.

Premises Details:

The space is on the ground floor of a 200 unit apartment building. It is next door to FedEx Office and Sammy's Flowers, both of which provide ongoing traffic throughout the day. Foot traffic on Lovejoy is heavy at all hours. There is a Starbucks 2 doors down, which also provides steady traffic.

Business Operation

Expansion Potential:

(Message from the Seller) There are a lot of different income avenues that can be taken full advantage of, that we have not pursued do to my lack of ability to invest time in the business. Here is a short list of changes that would immediately raise revenue with an owner physically present:

PROMOTE MEAL PLANS: Residents in the Pearl District are busy, employed people with money. I used to do meal plans for a limited number of customers. Some had dietary restrictions, but most just needed quick meals that were healthy. I never advertised this, in fact I was a bit afraid to, because I did not have the time to do an excellent job of fulfilling customer needs on this level. If you have a chef/cook who can plan and prepare Meal Plans, there’s really no limit to the income potential. Meal Plans are profitable because they are like mini catering orders, so the prices can be marked up and extra 10%. Customers come in off the street and inquire about Meal Plans almost every single day, and if our Meal Plans were properly advertised, there would be great income potential. A good thing about Meal Plans, like catering, is that you can plan ahead for them and it helps keep labor tight and food cost down. Being able to “plan” to use up your perishables on the meal plans because you have freedom to adjust the menu is extremely valuable.

PROMOTE CATERING: The Shop partners with Portland Pedal Power, a sustainable catering delivery and dispatch service. The service sends the orders to you. This service is responsible for paying half of shop's rent each month, however, I have pared the catering menu down to only “easy” items that any employee can make anytime. New ownership could easily expand the shop's catering menu, making it more interesting and generating more catering orders. Portland Pedal Power would help drive more catering our way if we could only expand our menu, but I do not have time to.

I’ve regularly had to turn down catering orders due to my time constraints and parental obligations. I’m not doing the level of catering the place is capable of because I simply have not had the time to do any R&D, menu planning or any further training… but if you are willing to put in a few R&D and training hours, the catering orders are there if you want them!

Catering through Portland Pedal Power:
Another great thing about Portland Pedal Power’s catering service is that they allow some freedom with the ingredients, making it possible for us to keep food costs down by using up what we have on hand. This is part of PPP’s sustainability practice.

ONLINE DELIVERY ORDERING: If the website were set up properly, and customers could order “Heat & Eat” meals and pay for them online, I believe H&E sales would increase dramatically. Right now we have online ordering, but, the customer cannot pay online, they still have to pay when they pick up, which I feel cancels out the convenience of online ordering. Also, delivery services could be set up for the H&E meals so that people can order several days worth of meals ahead and have it delivered. This type of service is wildly popular, and I have not had the time to work through the logistics. There is a lot of potential for sales here.

OTHER ONLINE SALES: This shop makes its own spices that are highly marketable. They give our food a signature flavor. I used to sell them on the shelf in the shop, and they’d sell out quickly (too quick) and again I could not keep them stocked. I could have paid minimum wage employees to make and assemble the spices, but I struggled to just get the day-to-day duties done (and still be a good Mom) without taking on peripheral projects. If you buy the business, the spice recipes are all yours!”

DELI MENU EXPANSION: In the same vein as the above-mentioned ideas, I have kept our deli menu as simple as possible (while trying to keep it interesting) but there’s a lot of potential to offer more interesting things. We only have 1 kind of soup, this could easily be turned into 2-3. Our lunch specials could be a lot more exciting, bringing our regular lunch customers in more frequently. I haven’t had the time to train the manager on anything more than basic variations on our current menu items to use as specials. The bakery up the street (Lovejoy Bakers) offers upscale, foodie-centric sandwiches and soups, and while I have always wanted to step up our game on those, I’m not able to come up with the recipes while caring for my child and pursuing my new career.

DISPLAY COOLER: The addition of a large, traditional “deli counter” display cooler is something that would do VERY well in this neighborhood. I have not had the capital to purchase a nice one, but I feel strongly that if customers could see the Heat & Eat pans and visually pick their entrees, the whole space would make much more sense. If I were to purchase this business as-is, I would immediately add a brightly lit, glass front case to display the foods and I am certain it would increase revenue.

Competition / Market:

The main companies that the Urban Pantry competes with are: Safeway Deli; Lovejoy Bakers and Online Meal Plan Services.

Reasons for selling:

The Seller has a small child, and did not plan to be away for more than two years to run Urban Pantry. Two years turned into five, and finally had their systems in place to have a manager take over, and so the Seller left as soon as she could. Due to her commitment to being a Mom, she has not had the time to grow the business like most owners would. The manager has been employed at Urban Pantry for over three years, and she is running the place completely without the Seller’s on premises presence. Sales remain steady and she as pleased with her management of the place. The Manager has done a great job upholding the systems that the Seller has in place.

Trading hours:

M-F 11 a.m. to 8 p.m. Sat. 12;30 p.m. to 8 p.m. Sun. 12:30 p.m. to 7 p.m.

Employees:
1 FT Mgr. and 3 PT
Years established:
This was a start-up from scratch business in 2013.

Other Information

Support & training:

The Seller is absentee and all training regarding the food operations will come from the manager. The Seller who keeps books and records will train in that area. How long is negotiable and depends upon the skill sets of the buyer.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

The financing will depend upon financial qualifications of the buyer, their skill levels and recent credit score.

Furniture / Fixtures value:
$30,000 - included in the asking price
Inventory / Stock value:
$4,000 - included in the asking price
Related Documents:

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