Recently Sold

Well Established Friendly’s Family Restaurant South Portland, ME – Over 35 Years!

Corporate Location Looking For A Franchisee - 2022 YTD sales up 19%

South Portland, ME

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Food Type: American, Diner, Ice Cream/Frozen Yogurt/Gelato

Service Type: Full Service

Business Type: Franchise

Sale Type: Business For Sale

Asking Price: $

Gross Sales: $

Net Operating Income: $

Monthly Rent: $

Lease Expiration:

Lease Options:

Year Established:

Owner Operated: N/A

Seller Financing: N/A

Summary:

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.

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.

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.

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 35 years.

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 corporate directly - contact Tami Hillier at EatZ & Associates for more information. Showings by appointment only.

Business Website: https://www.friendlysrestaurants.com

Competition:

A friendly place for families to enjoy a meal together. Famous for their homemade ice cream. Best kids’ menu in America!

A popular and 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 137 Friendly's in 12 states and 127 cities 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:

Friendly's started in Springfield, MA as a small ice cream shop owned & run by brothers Prestley & Curtis Blake in 1935. 5 years later the brothers opened another shop in W Springfield and added food. Within a decade the restaurant grew across MA and into CT. In 1979 the brothers retired & sold their company to Hershey’s and in 1988 the company was sold to TRC. Then in 2021, Amici Partners Grp involved with some of the best-known casual dining chains and an affiliate of BRIX Holdings, a successful multi-brand franchising company acquired Friendly’s.

Location:

Prime retail space in a freestanding building with drive-thru on busy Maine Mall Rd along with DSW, Five Guys, IHOP, Planet Fitness, Guitar Center, Dollar Tree, Wendy’s, Popeyes, UNO Pizzeria & Grill, Longhorn Steakhouse, Chipotle, Starbucks Mattress Firm and more. Also, adjacent Party City, Petco, Supercuts and Dick’s Sporting Goods. Close to the mall anchored by Macy’s JCPenney, Best Buy and Round 1 Bowling & Amusement along with 100+ specialty retailers. Perfectly situated just off the I-95 interchange!

County: Cumberland

Facilities:

Square Feet: 4,246.

Seating: 182.

Days/Hrs of Operation: Daily 8a-10p.

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