Steve Josovitz of The Shumacher Group Closes sale on two Newk’s Eatery’s. Steve has represented both parties multiple times throughout the years so guiding them to Closing was effortless.
Seller Info:
Newk’s Eatery Atlanta for Sale.
Two-Units sold are located in Peachtree City and Newnan GA.
Profitable.
No expenses spared on the state of the art build-out and design.
Full Management and Staff in place for
Newks is a Regional chain offering a menu of salads, pizzas & sandwiches in a casual setting.
Million Dollar build-outs.
Purchase includes territorial rights to open two additional units with half of the franchise fees paid already.
Unit One:
NEWNAN GA
5,000/sf end-cap located in a nationally anchored lifestyle center.
Established in November 2011.
Opening costs $1,100,000.
- 2016 Gross Sales $2,917,801
- 2016 Net Profit $430,960
- 2017 Gross Sales $3,318,344
- 2017 Net Profit $455,514
- 2018 Gross Sales $3,394,814
- 2018 Net Profit $357,910 was lower than in 2017 due to Management Training Salaries for the new unit.
- 2018 personal add-backs for all three-units combined totaled $200,000.
- 2019 Gross Sales $3,532,810
- 2019 Net Profit $535,765
Management salaries: GM $55,000, AGM $50,000, Assistant Manager $42,000 plus all are on a bonus program.
Rent is $15,085 monthly all in
Staff: 12-FOH with an average rate of $9.00/hr. and Kitchen Staff of 20 at approximately $11.00/hr.
Royalties are 6.5% including Marketing Fees.
Franchise Transfer Fees are $20,000 per unit.
Unit Two:
Peachtree City
3,400/sf end-cap located in a nationally anchored center.
Walk-in box located on the exterior.
Established in December 2018.
Opening costs $1,300,000
- 2019 Gross Sales $2,091,817
- 2019 Net Profit $61,388 (First Full-Year Opened)
Management salaries: GM $55,000, AGM $45,000, Assistant Manager $40,000 plus all are on a bonus program.
Rent is $11.340 monthly all in
Staff: 12-FOH and Kitchen Staff of 20 at approximately $9.00/hr-$11.00/hr.
Royalties are 6.5% including Marketing Fees.
Franchise Transfer Fees are $20,000 per unit.
