An iconic brand serving a mouthwatering classic American menu of signature entrees, burgers, sandwiches & hand-crafted, specialty ice cream for over 80 yrs. Plus, a recently launched menu with a dozen great new items from burgers to melts to pastas to salads along with new ice cream flavors.
Full service. Breakfast, lunch, dinner & dessert. Dine-in, takeout & 3rd party delivery. Also catering, make-your-own sundae kits & family meals. And a new loyalty program.
Plus, Friendly’s recently updated their POS system to Revel which has a lot more capabilities such as cloud based, digital, tablets for servers & more which is included in the asking price. But there is an approx. $30,000 mandatory refresh of all stores by the end of 2024.
Friendly’s has been built around families & founded upon ice cream. A franchise dedicated to quality in all that they do. Every meal is freshly made offering delicious new dishes & classic comfort foods that can only be found at Friendly's. And to top it all off, they end every delicious meal with incredible homemade ice cream in unlimited shapes, sizes & flavors.
Their vision & mission is "to be the leading casual restaurant/ice cream shoppe & premium retail ice cream brand ...known for operations excellence, great food, famous ice cream shoppe desserts, sparkling clean facilities, prompt friendly service & dedicated people...resulting in outstanding customer loyalty & consistent profitable growth.
And since the arrival of new ownership in Jan 2021 by BRIX Holdings LLC, a multi-brand restaurant management/franchising company, the brand has posted 2 consecutive years of positive same store sales. Plus, digital mix is up from 15% to 40%!
However, corp stores (regardless of the brand) are notorious for having high food/labor costs and no one really pushing the top line sales. Corporate's business model is royalty streams not individual store performances, so these stores never have the higher margins as owner operated locations. So, huge opportunity here for improved numbers & cash flow!
Additionally, all locations had breakfast prior to COVID and the stores are slowly reintroducing with great success. None of the corp stores have yet added it back but franchisees who have, have seen an average of 10% increase to sales without any lunch sales reductions!
Furthermore, take advantage of the reduced asking price based on recent lower cash flows as corp (like many other operators last yr) was slow and not frequent enough in increasing consumer prices to cover rising costs in 2022. Therefore, margins are expected to increase moving forward. Also, the ad fee has been reduced to 2.5% to help new franchisees get up and running and to help combat increasing COGs.
Lastly, due to the number of stores that they are re-franchising, corp is motivated to find franchisees and get back to the business of franchising, corp is offering a package pricing incentive for multi-unit and/or full cash purchases & all reasonable offers will be considered. And this store would also be considered as a possible conversion to another concept if approved by the landlord.
Well established location for over 64 yrs!
Because this is a corp store there is limited financial information. Corp took over this store in May 2022, therefore gross sales & net operating income are estimated for the entire year.
Feel free to stop by the location as a customer 1st. This is a HIGHLY confidential listing, please DO NOT talk to any of the employees or patrons. If interested, DO NOT contact corporate directly - contact Tami Hillier at EatZ & Associates for more information. Showings by appointment only.
Business Website: https://www.friendlysrestaurants.com
A friendly place for families to enjoy a meal together. Famous for their homemade ice cream. Best kids’ menu in America!
A popular & much-loved brand. As one of America’s most cherished ice cream shops, Friendly’s has been a part of millions of family occasions for decades along the East Coast. Currently there are a total of 130 Friendly's restaurants in 10 states with plans to open more. And with newly remodeled restaurants, new menus and drive-thru opportunities, there has never been a more exciting time to become a part of Friendly’s!
Growth and Expansion:
Serving up ice cream and delicious fun since 1935, America’s favorite family restaurant is excited to accelerate its refranchising effort to sell a majority of their company locations to existing and new franchisees to support future development of the brand. This will allow for more world-class support and position Friendly’s for long-term growth. The focus moving forward will be geared towards innovation, marketing and technology with plans to introduce new food & ice cream offerings, bright new restaurants and unique ways to reach & satisfy guests!
Prime retail space in the heart of downtown Florence. Perfectly situated on Main St lined with local businesses and surrounded by a vast residential area of homes.
Also, close to Florence Recreation Fields and Cooley Dickinson Hospital.
Square Feet: 2,410.
Days/Hrs of Operation: Daily 11a-9p.