EXECUTIVE SUMMARY

 

Due to the Covid-19 virus this is being offered on a reduced-price basis.

 

Prior to Covid, this was a very successful and fast-growing food truck business situated in one of the most popular local and tourist locations in Oahu, Hawai’i is offered for sale due to the relocation of the owner to the mainland. They are one of many different food trucks at this exceedingly popular and successful location.  They offer specialty products at high profits margins, with limited direct competition.

 

They have been consistently successful and profitable since they opened and have received consistent positive ratings via Yelp and Google.  They offer high-quality products at premium prices, attractive branding, and an excellent location. The business is enjoyable to operate; the current owner has taken multiple vacations and days off and has confidently left the business to be managed by the employees.  There are excellent growth opportunities for this business which are detailed in the Confidential Business Profile.

 

Due to the birth of twins, the owner and his family moved back to the mainland and has been running the business on an absentee basis since June 2020.  Annual pre-virus period sales of over $200,000 and SDE of over $83,000; gross margin of 70%.  Easy to operate, Square POS and credit card system, only two part-time employees, and open just 6 ½ hours per day.

 

After being shut down for over a month due to the virus, the Business reopened on May 1, 2020 and since June is being operated by the owner’s part time employees. His landlord has been very helpful during this Covid crisis and has forgiven many months of lease rent.  Sales and profits have been materially reduced by the virus but with the “opening” of the Hawaii tourist market on October 15, 2020, the owner is expecting sales and profits to begin to recover especially when the traditional holiday season begins in December.

 

The Business is being offered on a total turnkey basis with all assets included and the owner will provide training and a non-competition agreement.

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COMPANY

Listing ID: HI Food Truck

Location: Oahu, Hawaii

Type of Entity: LLC

Year Established: 2018

Industry: Fast Food – Street Vendor Segment

 

FINANCIAL SUMMARY

Annualized during the pre-virus period in 2019 and early 2020:  

  Revenue: $207,000

  SDE: $83,900

  Based on being open 7 days per week

 

Sales and profits during 2020 have been materially lower than they were pre-Covid

 

OFFERING SUMMARY

Asking Price:  $84,000

Inventory included in the Price: $1,500

Est. Tangible Assets (F, F & E): $48,000

Non-Compete:  5 years

Training:  One week

Sale Reason:  Birth of twins resulting in moving back to the mainland to be close to family.

 

BUSINESS IS:

Relocatable

 

LOCATION DETAILS

Status: Leased/Owned

Monthly Rent: $3,500

Lease Expiration Date: month to month

Other Location Info:  Very popular and busy food truck site and positive landlord relations

Landlord has forgiven many months of lease rent during 2020 because of Covid-19

 

EMPLOYEES

Two part-time plus owner

 

COMPETITION

No direct local competition

 

INVESTMENT HIGHLIGHTS

• This is NOT a franchise, so no franchise fees or royalties are paid.

• Not the typical food truck

• Excellent Point of Sale and credit card system from Square.

• Significant growth opportunities

  • Open 7 days per week;

  • Add complementary products

  • Increased marketing especially a website

  • Many other Oahu locations where this Branded concept would be developed

• Easy to operate, open only 6 ½ hours per day

• Offered fully turnkey

• Great landlord relationship

• High margin products and very profitable

• Strong track record

 

TRADING HOURS

Monday – Saturday; 10:30 am – 5 pm (Employees typically work 7-hour days)

Closed Sundays, but can be opened all week, other operators in the same park say that Sundays are their best day.

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Is now the time to position yourself for the post pandemic recovery in Hawaii’s paradise?

 

For detailed Confidential Business Profile, with all financial and operating details, please contact us.