Unit 1
Food Court location in a “Tier 1” Shopping Centre – steady, consistent traffic, low labour costs (reduced operating hours), clean revenue (no 3rd party deliveries) & simple income statement (Labour, Food, rent & royalties make up 98% of costs).
Operating since 2002.
Hours of Operation 10am-9pm M-F, Saturday 10am-8pm, Sunday 10am – 6pm. Total 73 hours/wk
10 year lease signed in March 2022
Sales revenue 2022 = $829,500 (COVID restrictions January – April).
Sales revenue 2021 = $580,000 (COVID restrictions)
Annual sales revenue 2016-2019 (pre Covid) = $950,000 - $1,000,000/yr
2023 projected sales $950,000. Based on return to pre COVID sales that normalized in November 2022.
2022 EBITDA - $102,000 (12.5%)
2021 EBITDA - $20,000 (3.5%)
Annual EBITDA 2016 – 2019 = $160,000 - $180,000 (17%)
2023 Projected EBITDA = $141,000 (15%)
Unit 2
Food Court location – steady, consistent traffic, low labour costs (reduced operating hours), clean revenue – no 3rd party deliveries & simple income statement (Labour, Food, rent & royalties make up 98% of costs)
Operating since 2012.
Hours of Operation 10am-7pm M-F, Saturday 10am-6pm, Sunday 11am – 5pm. Total 59 hours/wk
5 year lease extension signed in Sept 2021 (pre inflation)
Sales revenue 2022 = $400,000 (COVID restrictions January – April).
Sales revenue 2021 = $350,000 (COVID restrictions)
Annual sales revenue 2016-2019 (pre Covid) = $480,000 - $500,000/yr
2023 projected sales $480,000. Based on return to pre COVID sales that normalized in November 2022.
2022 EBITDA - $53,000 (13.5%)
2021 EBITDA - $25,000 (7%)
Annual EBITDA 2016 – 2019 = $90,000 - $100,000/yr (20%)
2023 Projected EBITDA = $85,000 (17.5%)
List Price for both Unit 1 and Unit 2
$1m CAD
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