SOLD! Petro’s Chili & Chips (Knoxville TN | 4 locations )

Since 1982, Petro’s has been a fixture in the Knoxville area. 

The Franchise owner is selling four Petro’s Chili & Chips franchises available in the Knoxville Metro area.  These locations are loved by people in East TN and bring the feeling of Tennessee football season in every dining experience.   This is a great initial footprint for a first-time investor.  2 of the locations are approximately 1 year old, the other two are established.  They are just beginning to mature and strengthen, and all FFE is new.   

ASKING PRICE:  $850K

CASH FLOW: $130K per year

GROSS REVENUE: $3.2M per year

FFE: $668K and >90% of FFE is new

LOCATIONS:  Clinton, Powell, Seymor, and Oak Ridge, TN

EXPANSION PLAN:  Largely untapped catering market will bring in higher growth and increased partnership with delivery services needed. 

DETAILS:

- Currently Operates and owns 4 Petro’s with newer FFE, relocating.

- Two locations opened in the past 13 months, and two locations 11 years.

- Leases are transferrable

- Staffing is great, but owner is relocating to another state and needs to sell before full maturity.  This gives a good opportunity for someone to come in after stores have completed but not matured. 

- Fast-Casual:  This is a higher end fast food restaurant concept that is well known and these stores look great.  Serving 2 meals per day (lunch and dinner)

- Same franchise store slightly older in adjacent market is highly successful

- This franchise is currently undergoing expansion, giving franchisees a chance to jump in now.

- Current owner will assist new owners through a brief transition period.