This company owns a popular BBQ restaurant currently valued at $22 million. Their objective over the next six to seven years is to build 20 to 30 corporate restaurants and drive revenue to $150 - $300 million. It takes two stores to support one new store. Each new store will cost around $1 milllion to open and operate the first six months. This year they have expanded to three locations in their founding city and also franchises in two other prominent cities. They have signed a contract with a company that has 75 C-stores in which they will be opening express locations throughout the Midwest. The deli express concept will be driven by the USDA plant that has been built in the midwest and will supply all of the deli outlets in the United States. This plant allows them to smoke and package product for sale. They currently sell product through HSN network and are entering Sam's Club with BBQ sauces as well as grocery stores in Oklahoma, Missouri and Texas. In the fall of 2016 they are planning to open additional restaurants in the Midwest. Based on historical numbers and populations each of those markets will support a number of locations that should each generate $6 million in revenue.

They are looking for an investor to help expand their operations for corporate development as well as build a larger team for franchise operations, build-out the USDA plant and expand retail operations across the country. The current valuation for operations and blue sky is roughly $22 million and they are willing to sell 49% of the company for half of the projected value. They are not under pressure for cash, but are looking for the right financial partner who understands the concept.

Posted Sep 7, 2016

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