Listing Number: 76931-981361
Description
Specialty Tea Franchise located in North Lubbock with excellent growth potential and possible growth through adding additional locations. Opened in January of 2022, this business has proven it can be successful in the Lubbock market. The current owner has not been offering catering as a service, which is a huge opportunity for a new buyer. With an equipment list worth approximately $62k and $154k in leasehold improvements, a buyer is getting a great value with the purchase of this business.
The store has excellent reviews and has a stellar reputation in the market. In addition, the store has a great foundational social media following with 1.7k likes and 1.7k followers on Facebook along with an average 4.6 star review on Google with 115 reviews. The shop is very well located on one of Lubbock’s most trafficked intersections.
This semi-absentee run business requires the current owner only 14 hours per week. In 2023 the business is trending towards ~$330k in Net Sales with an SDE of about ~$47k. The owner is wanting to sell the business to focus on another business in an unrelated industry. This other business is requiring more time than she expected and is taking away time that could be spent in the Tea Shop. Therefore, a new owner could greatly increase sales with more attention to the business. This business is perfectly positioned for a new owner to take it to the next level.
Listing Details
- Price: $ 145,000
- Down Payment: $90,000
- Sellers Discretionary Earnings: $ 44,579
- Total Sales: $ 369,838
- Location: Lubbock County, Texas
- Inventory: $ 5,000
- FF&E: $ 61,972
- Employees: 4
- Year Established: 2022
- Reason for Selling: Working on Another Business
- Category: Restaurants
