High-Volume Well-Established Friendly’s Family Restaurant – North Haven, CT!
Corporate Location Looking For A Franchisee
Nicole Rayborn 208-967-0748
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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 year) 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.
Well established location for over 17 years. 2022 sales up!
Because this is a corp store there is limited financial information. 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 corp directly - contact Nicole Rayborn at EatZ 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 a freestanding building in a very busy regional shopping area with many national restaurants and big box retailers on Universal Dr N just off I-91. In North Haven Pavilion with Carters, Lane Bryant, Mattress Firm, Michaels, Panera Bread, Payless, Ruby Tuesday, Target, T-Mobile, Wendy’s and more.
Adjacent North Haven Commons with At Home, Best Buy, Big Lots, Buffalo Wild Wings, Olive Garden, Petco, Red Lobster, Ulta and more.
And Home Depot Plaza along with BJ’s Wholesale Club, Dicks Sporting Goods, Docs Urgent Care, McDonalds, The Vitamin Shoppe, TJ Maxx and more.
Plus, North Haven Crossing with Barnes & Noble, Chick-fil-A, Cinemark X-D, DSW, Dollar Tree, Extreme Digital Cinemas Five Below, Longhorn Steakhouse, PetSmart, PC Richard, Raymour & Flanigan, Sally Beauty Supply and more.
Also, near a Cinemark X-D Extreme Digital Cinema 14-Plex Theater!
County: New Haven
Build-Out: Build-out cost for a new location is between $1.1M - $2.6M or an average of $1.8M!
Lease Information: Leased space $11,726/mth gross. Current lease expires Feb 2026 with four 5-year options.
Square Feet: 4,000.
Days/Hrs of Operation: Su-Th 11a-10p & Fr-Sa 11a-11p.
Real Estate: Leased.
Value of FF&E: Included In Asking Price (Valued at $80,000).
Value of Inventory: $13,365 (Not Included In Asking Price).
Number of Employees: 32.
Support/Training: Two weeks on-site training and @ an approved training store. Franchise agreement and lease are transferable and the franchisor will help with training and transition.
Seller Financing Available: Yes, to a qualified buyer with substantial down.
Reason for Selling: Corporate location looking for a franchisee. Franchisor looking to focus on the franchising of the brand only.