Shumacher Sells Chef Advantage w/Building, Commissary Kitchen & Real Estate

by Steven Josovitz

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The Shumacher Group, Inc. just sold Chef Advantage a foodservice management company located at 975 Cobb Pl Blvd NW, Kennesaw, GA 30144. The Shumacher Group, Inc. and Steve Josovitz represented Seller in the sale of business, building and real estate.

This featured Metro Atlanta foodservice management company is a consistent profit generator with audit-able books, substantial hard assets, and a tremendously loyal customer base. The company specializes in providing dynamic onsite and delivered service to independent schools, child development centers, and charter academies in a major Southeastern market. Accounts are based on annual contracts, providing a predictable revenue stream.

Sales and profits continue to be strong after twenty years in business, and the company is poised to become a major regional or national player. In addition to substantial local brand equity, the sale includes an impeccably maintained 6300 sq ft state-of-the art commissary kitchen, professional offices, and modern delivery vehicle fleet.

This is a highly efficient systemized company that is best known for its engaging customer service and client retention. The company has a talented and dedicated team of office staff and production managers, chefs, service staff, and nutritionists in place for continued growth.

The commissary kitchen is included in the sale. It is an incredibly clean kitchen, consistently scoring 100% on local health department visits. The equipment is designed for high volume work, is very clean and has documented preventative maintenance performed quarterly. While the current business model is extremely profitable and stable, the kitchen asset alone would work nicely for many concepts including high volume baking, catering, or food manufacturing.

This business is a 5-day per week, daytime only venture. There is substantial opportunity to expand this already profitable venture with ready-built markets for HMR and traditional catering. The current owner has chosen steady and manageable growth since the company’s inception in 1991, even before the burgeoning interest in healthy choices for school lunches. While this company is already a solid performer, an existing foodservice company or strong entrepreneur is in excellent shape to take this business to the next level.

Tangible Assets

6300 sq ft Commissary Kitchen $567,000
Kitchen Equipment and Smallwares* $397,000
17-Vehicles** $120,000
Office Equipment and Furnishings* $40,000
Total $1,124,000.00  

 *Calculated at 60% of new value.

** Vehicles are professionally maintained late model cargo vans, priced at used market value.

Three Year Financial History

Financial Year Sales EBITDA *
     
2011 3,348,266 225,473
2010 3,106,772 250,961
2009 3,175,136 352,730

Financials are very clean and auditable.

*EBITDA

$1.7 million for business, equipment real estate, and FF+E

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