Full-Service $2M Restaurant Franchise

Lubbock, TX

Gross Revenue: $1,969,563, EBITDA: $259,805, FF&E: $384,667, Cash Flow: N/A, Inventory: $10,000, Rent: $13,823/Month, Established: 2003

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Business Description

Rockfish Seafood Grill, Inc. is a private company based in the Dallas-Ft. Worth Metroplex. The first Rockfish Seafood Grill opened in 1998. The brand quickly developed momentum and spawned a vibrant and energetic culture.

Currently, Rockfish has 11 Texas Restaurants 8 of which are in DFW, 2 in Houston, and 1 in Lubbock. Originally, the restaurant had a fly fishing theme. Today, Rockfish is shedding the old skin of the Fly Fishing Lode to create a more modern tenor resembling a coastal waterfront eatery. However, the heart and soul of Rockfish Seafood & Grill has stayed the same. Rockfish’s expansive range of menu choices keeps diners coming back for more.

Rockfish has been in the Lubbock market since 2003 and recently renovated to the new concept and relocated the Lubbock location to a prime spot with 6,032 sf directly across the street from the Texas Tech Jones AT&T Stadium. This location is already seeing a 30% increase in sales from the prior location and is poised for further growth and continued success.

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Detailed Information

Location: Lubbock, TX
Inventory: Included in asking price
Real Estate: Leased
Building SF: 6,032
Lease Expiration: 7/31/2028
Employees: 67
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: Brand New Facility / 274 Indoor + 46 Patio Seats
Competition: PROS: ? Excellent name recognition & reputation ? Top seafood restaurant in Lubbock for 15 years ? Scratch Cooking Kitchen ? Prime Location ? Brand New Facility / New Theme ? Prime Costs <60% ? 30% Increase in Sales with move to New Location ? Seasoned Management / Staff ? Corporate Training & Support ? Proven Business Model CONS: ? Remote location (from other company stores) ? Just moved to new location (still building awareness) ? Theoretical Food Costs higher than other Units ? Price point higher than only other full service restaurant in area (Chili’s) ? Decrease in Sales when school is not in session ? Low Bar Sales for Trade Area
Growth & Expansion: PROS: ? No money spent in Marketing or Advertising (Facebook Only) ? Ability to expand West Texas market ? Texas Tech {Area} is continually growing ? Limited seafood restaurant choices in trade area ? Ability to generate more traffic with Bar CONS: ? Competition ? Food Cost Increases ? Price Sensitive Market (college students)
Support & Training: Full Support & Training by Rockfish Corporate Staff – Included in Franchise Fee (included in price)
Reason for Selling: Seller wants to make a Franchise that will also develop the West Texas market
Franchise: This business is an established franchise
Business Website: http://www.rockfish.com