Popular turnkey food truck operation

Undisclosed Address, North Carolina
Business Opportunity for Sale
Catylist Listing ID: 30588856
Property Subtypes: Food and Beverage
Building Size (RSF): See Agent
Sale Price: $70,000
In Opportunity Zone? Yes
Name of Establishment: For the Shell Of it
Business Website Address: https://shellofit.com/
Year Business Established: 2019
Gross Revenue: $240,000 (Annual)
Cash Flow: $44,000 (Annual)
Cash Flow Type: Sellers Discretionary Earnings
Relocatable Business: Yes
Sale Terms: cash. Motivated seller. Major price reduction. No additional negotiations. Seller's desire to retire is someone's win! this is the cost of equipment and you get a running viable business!!
Last Updated: 5/6/2021

Overview / Comments

Price reduced. Motivated Sellers! Amazing opportunity to own a popular fully established turnkey food truck operation that includes a lease on commissary, all permits, 99% rating with the county health department, a large following with over 1000 followers, great relationships with venues, in demand for dinners, lunches, private parties, catering and community events. Booked 6 -7 days a week. Includes everything from refrigerators, griddles, burners, prep stations, cash register, tablet with square, state of the art generator, 3 compartment sink, awnings, water heater, drop-down tables, and the trailer is even air-conditioned! Also, includes all equipment in the private commissary with unlimited use of the commercial kitchen. Commissary is currently leased with the option to renew and has a 99% health department rating as well! Commissary equipment includes commercial freezers, refrigerator, stainless steel tables, carts, pans, pots, trays, stainless shelving units, commercial microwave, blenders, all inventory of disposables, food in stock, labels, desk, and chairs, you name it, it is included, walk in and start working. Scheduled out most of the year already. Includes a strong website with great SEO for bookings, marketing, and printed materials, handbooks and policy books, logs, amazing social media following, workman’s comp, payroll, bookkeeping established, and automated so incredibly easy to remain compliant. Sales tax and exempt status set up, equipment/liability insurance paid through the end of the year. Marketing & all contacts, as well as name and LLC, can convey. Fully equipped, staffed, and operating every day. The menu is easy and specialty enough to be in demand. Approved accounts with Sysco, Inland Seafood, Cheney Brothers. (During the pandemic the truck has been sharing time with neighborhood events and breweries. There is a demand for to go foodservice and sales remain strong). Lots of room for growth! The location is leased, the new buyer will be vetted by the landlord but should not be a problem. The lease is only $1000 a month with an option to renew! Includes all utilities and internet. Based in Pender County. Currently operates in New Hanover, Pender, Onslow, Brunswick, & Carteret Counties. Training will be provided. For the Shell of It is seeking an owner operator to grow!

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Additional Details

Industry Segment: Other Food and Beverage
Reason for Selling: Sellers want to sell because this company is growing and could expand so much more, but payroll when absentee owners is brutal. 2020 payroll $118k.($26k paid to owners on w2s and other $92k to employees mostly not needed if owner operated). If owner operated you would only need a few $8-$9 hour part time people. All employees would love to stay working. Business would be incredibly lucrative for owner operator. Current owners are part of daily operations but count on staff to run it. Could be booked for 2-3 events a day if there was an owner operator to keep staffed for all events. Booking for 3-hour events 4-6 days a week has generated average of $22k a month in gross receipts. This number could be much higher! This is a trailer not a truck so will need to be pulled. Ford truck could convey with towing capabilities with additional negotiations (sold separately). Please do not ask the employees about the listing. Call listing agent/owner.
Value of Inventory Included ($): $6,000
Value of Furniture, Fixtures, and Equipment ($): $70,000
Real Estate Status: Leased
Value of Real Estate Included ($): $0
Real Estate Lease Description: $1000 a month, includes electric, wireless internet, propane for commissary stove, use of all kitchen equipment & private 12x20 room for business refrigerators, freezers, prep tables, stock, etc with private entrance and 24/7 access. Lease only $1000 a month through September 2021 with one year option to renew at same price. Truck parked off site. Commissary doesn't allow overnight parking.
Employee/Labor Description: Currently company employs 5 active w-2 employees and 1099 bookkeeper .
Mgmt/Training Support Description: All staff and owners are local and will train in all aspects of running company. Access to all vendors and website site/followers. Marketing specialist will continue to book events and market as subcontractor as long as needed.
Competition/Market Description: This food truck begin in late 2019 and has exponentially grown every month during the winter and the virus. Expected to double it's revenue in Summer Months if owner operated. Currently events reduced and venues waiting for calls back to get scheduled. Owners desire to sell and not train another manager is part of motivation at this time. Has averaged $22k a month in sales.
Growth/Expansion Opportunities: Currently only booked evenings with hours ranging from 3-9 (typically 3 hour shifts on location) . There is so much room for growth.
Seller Financing Description: na

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,327 8,788
Median Age: 47.6 50.95
Households: 1,798 3,828

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