Fast Casual / Quick Service w/Beer, Wine & Patio Great Freeway Access
Westlake Village, CA
This upscale fast casual / quick service restaurant with beer, wine and a spacious outdoor patio boasts a remarkable buildout, stellar freeway access and excellent street and freeway visibility. The venue is located in a large shopping center with an ideal anchor tenant in addition to complementary additional tenants. The location’s spacious semi-open kitchen has several griddles, a grill, stove, double deep fryer, large prep line and a combination walk-in cooler and freezer. The versatile buildout and the beer and wine entitlement lends themselves to any number of food service concepts. As this location is part of an established chain, the name, concept, branding (menu, color schemes, signage, etc.) will not be included in the sale. As such, the current operation’s financial and other performance details, staff wages, etc. will also not be considered relevant. All of the business’s non-branded furniture, fixtures, equipment and Type 41 Beer and Wine License will be included in the sale. Thought the name, menu and inventory will not be included, some of the associated goodwill may be capitalized on nonetheless via the implementation of a concept with similar fare.
This location, which had a $714,000 buildout in 2014, boasts a spacious 2,235 square foot interior and a 700 square foot patio in a corner location that allows it to benefit from 2 facades. The location in one of the area’s most prestigious and highest traffic shopping centers currently leases for $12,391 per month plus an estimated $2,380 in common area maintenance (CAM) expenses. Though an existing lease remain in place with multiple options, new operators should anticipate a new secure long-term lease with options to be negotiated in the sale.
While a variety of quick service and fast casual food concepts exist in the area, this venue is located in one of the area’s highest traffic and most prestigious locations. Few competing concepts boast the type of buildout, freeway access, visibility, patio or beer and wine entitlements this location benefits from.
As this venue is entirely absentee operated with several layers of management, it could tremendously benefit from a full-time working owner-operator that could significantly reduce staffing expenses, while ensuring quality customer service and a high average ticket sale. Similarly, this fast casual concept includes a table service component, which drives additional labor expense. With the business’s average staffer paid $15.50 per hour, a quick service set-up without multiple layers of management or table service could also realize significant savings.