Waffle house w/ karaoke & dancing in Rexburg.
Location: Rexburg ID
ID: (# 200578)

New listing

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Asking Price: $ 35,000
Cash Flow: $ 0

Annual Sales:  $ 82,000
Assets (FF&E):  $ 15,000
Inventory:  $ 0
Real Estate:  $ 0

Overview

Waffle buffet featuring gourmet sourdough waffles from a 300-year-old proprietary family recipe. Patrons choose from over 25 toppings including ice cream, fruit, spreads, fried chicken, Navajo waffle, ham and eggs, and sausage gravy. Karaoke and dancing are provided on Friday and Saturday nights with a professional sound system and stage with complete lighting! Facility can also be reserved for group activities (church, business, etc.). Target market includes college students (approximately 18,000 at any given time) as well as other local residents (approximately 22,000 in addition to the college students). The owners opened the business in January 2018 to meet an underserved need for entertainment for the college students in the area. It was an immediate hit with Friday, Saturday, and Monday night crowds ranging from 50-250. At first, the business was positioned as a night time establishment, open on Friday, Saturday, and Monday nights – with other nights available to be reserved by groups. In the first 3 months, the brand and reputation became well established and there were 10 reserved parties and one large outside catering event in addition to the “normal” nights. It was well established in the first three months that everyone LOVES the waffles. Patrons often say: “these are the best waffles I have ever had.” Sourdough waffles have a special flavor, are lighter, and are tolerated well by those who cannot tolerate gluten. Because of the love for the waffles, we decided in April of 2018 to expand our hours and open during the daytime to attract more of a dining crowd not focused on an entertainment experience. Of course, we continue to offer dancing and karaoke on certain nights as well. The current owners desire to sell the business because other business ventures are taking them outside of the area. They believe this business can truly be an “icon” to this small local market. The current owners will provide training and mentoring to assure a smooth transition. The landlord is ready to “make a deal” with new owners. This will be a turn-key operation for the new owners. The “heavy lifting” has already been done and now it’s just a matter of growing the clientele.

Details

Reason for Selling:
New Job

Year Established:
2018

Number of Employees:
3

Facilities:
Leased facility. Great location on the same road with the big movie theater and restaurants. Walking distance from the college.

Furniture, Fixtures, Equipment:
Assets: • Facility build-out costs already invested - $50,000 • Furnishings, fixtures, and equipment - $15,000 • Federal trademark (to support franchising) • Brand/name recognition strong and growing • All proprietary recipes included • Established Facebook and Instagram accounts with large followings • Website in place


Broker Contact Information

Alex Hart

alex@bristolgrouponline.com


Bristol Group

Idaho Falls, Idaho
(208) 390-0075 | Office
(208) 248-5610 | Fax