Listing Number: 2401-456947
Well established Submarina Franchise in Lake Elsinore priced for quick sale.
2018 Gross $384k, SDE $47k. Asking $74k. No franchise transfer fees.
The Submarina franchise system started in San Diego in 1977. Product quality and friendly service fostered success. Sandwiches are made from local fresh ingredients, meats and cheeses are sliced in front of customers, and breads are baked locally and delivered to shops 7 days per week. This is a delicious generously proportioned sandwich.
Original Franchisors retired a few years ago and turned over the reins to experienced successors who intend to improve franchisee experience and support.
Store is located on corner in a newer Mall Center. The area is growing with significant new commercial and residential development. Store was established in 2005, with current ownership in place for 8 years. They are selling to focus on their other store that is more conveniently located to where the family resides.
Lake Elsinore Submarina has 8 PT employees including 1 manager. It is ready for a new owner operator to step in full time replacing at least 1 FTE - while focusing on growth through increased catering, delivery and walk in business.
1 manager ($13.50/hr) and 7 other part time employees at $11.50/hr. Absentee owner pays himself $15,600/yr. out of payroll. Current lease on 1300sqft at $5,545 can be extended.
Solid opportunity to step in to going concern and grow at a fraction of the financial and time investment required to start new.
From 2018 FDD: Investment required of franchisees starting from scratch.
$175,500-$460,250 investment includes $35,750 franchise fee and other launch expenses.
$7500 transfer fee paid by seller.
Royalties 6% plus 2% branding and 2% local marketing.
- Price: $74,000
- Down Payment: $74,000
- Sellers Discretionary Earnings: $47,040
- Total Sales: $384,326
- Location: Riverside County, California
- Inventory: $2,500
- FF&E: $0
- Year Established: 2005
- Reason for Selling: wants to focus on their other store
- Category: Restaurants