Posting Details

For Sale - Redwood City

Redwood City  For Sale* New owner must work full time as the manager to achieve the adjusted net profit stated below*

Highlights:
Highly rated New York style thin crust pizza. Located in a neighborhood shopping center, with a corner location and high visibility, the store was built brand new from scratch just 7 years ago. The high sales generated from the smaller facility adds to the higher profitability. The neighborhood location provides an exclusive area without any competition to a high density of residents with few local options.

Products / Services / Customers:
95% of sales are pizza. 40% is by-the-slice, the rest are full pizzas. The other 5% is calzones and salads. 20% is delivery; Doordash is exclusive service. 70% take-out/pickup, 10% eat-in. No beer & wine(not the right location for this). Customers are nearly 100% local residents.

Marketing:
Not much active marketing used. No coupons, other than square loyalty rewards. Yelp and google ads every once in a while. Google search optimizing to the Facebook account was used to build their following in the beginning.

Competitive advantage:
The pizza is one of the highest rated "authentic" NY style pizzas in the bay area. The recipe is from Lombardi's- the first NY pizzeria that opened in 1905. True New Yorkers are their greatest fans. The neighborhood location provides an exclusive area without any competition to a high density of residents with few local options.

Potential:
Corporate delivery/catering. School lunch programs. Add desserts, those are an easy add-on sale for delivery!

Sellers Role In Operation:
The owner works full-time in the business as the manager and in the kitchen making pizza.

Established: 7 years
Current owner: 3 years
Owners hours: 2
Operating hours: 11am - 8:30pm, 7 days
Licenses: health dept (no beer & wine)

Seats: 8 inside / 10 outside
Facility size: 595 square feet
Rent - base: $2,440 per month
Rent - NNN: $267 per month
Rent increase: 3% per year
Expiration: 8/1/2021
Renew option: 5 years @ 95% of market rate
The listing # 253274 - Redwood City below is currently OFF THE MARKET due to that it is either in escrow at this time or has recently been sold. For more businesses for sale that are like this in Redwood City please see a sample of BizBen active listings below and links to all similar listings on BizBen.com.

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