Earl of Sandwich Franchised Store and Territory Option

Sandwich Chain with International Presence and Excellent Support

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$909,519 (2019)
Cash Flow:
$63,628 (2019)
Santa Clara County
Service Area:
Santa Clara County
 Gross Profit:
Additional 3-store territory for $75,000
Reason for Sale:
Seller moving
out of the area
The Franchise
2019 Trip Advisor Travelers’ Choice Award
Year Established:  Store established 2018. Franchise established 2004.
Services:  Fast-casual restaurant franchise specializing in the art of modern, epicurean sandwiches.
Fixtures &
Assets in existing store include 7×13 walk-in cooler/freezer combo, ice-cuber, slicer, 3-compartment sink, racks & wall shelving, worktables & equipment stands, 2x single-deck counter-top conveyor oven, self service cold case, 4-foot salad prep counter, small wares.
Product Breakdown:  Sandwiches 85%, Salads 8%, Wraps 5% and Soups 2%.
4 weeks initial training, hands on operator preferred, help with staff empowerment, operating resources, location assistance, layout, pre-opening and ongoing support.
Facility &
1610 sf, $42/sf/yr. + cam, 6 years remaining, plus two (5) year options. Location has 50 feet of glass street front real estate with an average of 19,243 cars passing by daily.
Personnel:  2 full time and 2 part time.

Value Proposition

  • One of two stores in Northern California
  • Exceptional customer reviews of 4.5 stars
  • 50″ of prime windowed store front, 19,243 cars pass daily
  • Catering and delivery options available
  • Developed app for ease of ordering
  • Traditional, drive-thru, airports and other models available
  • Strong branded marketing with flexibility
  • Small, efficient production line
  • Easily replicable and expandable
  • Protected territories to prevent oversaturation
  • Franchisor is highly experienced
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Revenue Breakdown

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Financial Highlights

  • Listing Price: $199,999 + Inventory
  • Plus $75,000 for protected territory for 3 more stores (at cost)
  • Business is built for take out
  • 20 Seats indoors
  • Franchise operating terms 10 + 10 year op
  • Recommended Working Capital: $25,000
  • Inventory Estimated Monthly Average: $6K
  • No PPP or EIDL loans taken
  • Downtown has a delayed recovery
  • Other prime foot traffic areas with -in the territories are experiencing better than 2019 sales
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Cashflow Analysis

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Asking Price

The asking price is determined using a cash flow and asset methodology. Cash flow is the sum of net income from the business plus any non-cash expenses, non-recurring items, and any seller’s personal expenses. The asset methodology takes into account what it could cost to open a similar business in equipment and square feet. A multi-factor multiplier is applied to the cash flow based on the condition of the business and the asset value is added to that result.

For this business, a three-year average cash flow is applied making the business price more favorable to the buyer. The multiplier applied in this case is 3x, is the standard multiplier for bakeries plus a steeply discounted asset value.

The SDE value considers time to build up the goodwill and customer base. If you were to build out a similar space with like equipment it could cost upwards of $750,000 or more.

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