Steve Josovitz of The Shumacher Group, Inc. has sold Newk’s Kennesaw. The Shumacher Group, Inc. and Steve Josovitz has represented Seller in this transactions and on the sale of several groups of national restaurant groups over the last 20-years. Steve Josovitz guided Buyer and Seller through process and successful Closing.
Seller Details:
Located at 1975 Cobb Parkway , Kennesaw, GA 30152
4,500/sf freestanding restaurant located in a nationally anchored center.
Established in December 2016.
Opening costs $1,170,000.
- 2017 Gross Sales $3,036,251
- 2017 Net Profit $291,127
- 2018 Gross Sales $3,332,774
- 2018 Net Profit $228,802
- 2018 Net Profit 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 $3,361,788
- 2019 Net Profit $403,389
Management salaries: GM $50,000, AGM $42,000, Assistant Manager $40,000 plus all are on a bonus program plus two-hourly shift Supervisors at $15.00/hr.
Rent is $17,283 per month all in.
Sewer and Electric run about $4,200 monthly.
Staff: 15-FOH and Kitchen Staff of 20 at approximately $11.00/hr-$13.00/hr.
Royalties are 6.5% including Marketing Fees.
Franchise Transfer Fees is $20,000.Additional Two-Units for sale.
Profitable.
No expenses spared on the state of the art build-out and design.
Full Management and Staff in place for seamless transition.
Newks is Regional chain offering a menu of salads, pizzas & sandwiches in a casual setting.
$1,170,000 build-out.
Priced at $900,000
