Bridge Pointe, 214 Bridge Street, Building D, Metuchen, NJ 08840

BUSINESS PROFILE

Noodle Joint Venture

 

 

Location:  

Northern & North Central New Jersey
Year Established:   
 14 months
Under Present Owner:    
 14 months
Gross Sales:  
 (projected year 1)  $292,800 (projected to increase at the rate of 25% per year for years 2-5)
Cash Flow:     
 (projected year 1)  $79,568
FF&E:      
 $59,615
Inventory:  
 $4,000
# of Employees:   
 7
Investment:
 $186,515
ROI:  
 26.3% (based on year 1 projection)
Reason for Investment:
 Joint Venture

 

 

Summary Description:

The Corporate Executive Chef is looking  to open noodle shops in other states in the US, outside of NY and NJ and in countries outside of the US, like Philippines, Thailand, Colombia, Kenya and others and is looking for investment partners.  The Chef opened a prototype noodle shop NJ in June, 2013.  Two more shops were opened, in NY in October, 2013 and another in NJ last March.

 

This firm’s theme is to serve Thai and Asian noodle and rice dishes that are healthy, delicious and authentic Thai and Asian and serve the food in a fine dining setting but waiting is 5 mins or less.  The Chef and his crew has been developing more menu items, streamline kitchen and cooking procedures as well training chefs, cooks and staff who can work at a moments notice once another shop is established.  As of date, this firm is looking to put up more stores, in NJ and in NY.  In the next few weeks, This firm will have its own kitchen.  With the kitchen, prepping food will be standardized to ensure its quality. Corporate will also explore ways of producing  its own raw food ingredients - noodles, rice, sauces, meat products which will be organic as well as other supplies - chopsticks, paper and plastic products.

 

The business’ expansion strategy is to seek investors who want to own a noodle store based on a joint venture agreement, in the USA or outside of the USA.

 

This firm is currently looking to offer 2 investment location opportunities in New Jersey.  The first location is in Jersey City. The second location is in Elizabeth.

 

Jersey City (Journal Square):

The location is by Journal Square (train and bus hub) along restaurant row of Newark Avenue in front of the court house and St Peters University, Hudson County College, DMV, Hudson County offices and court house. Commercial and residential buildings are within a 2 mile radius with lots of foot traffic; parking lots abound and street parking along JFK and side streets.

 

Elizabeth:

Located along Broad St restaurant row, by Court house and County and City offices, near train station, Trinitas Hospital and Kean University. Stores are within a 2 mile radius with a parking garage by corner and street parking along Broad and side streets with lots of foot traffic.

 

Joint Venture  Agreement Specifics:

1. Once an applicant is pre qualified, the corporate team will work with prospective store owner’s team to prepare the
feasibility study.

2. An agreed fee is paid to Corporate.

3.  Building of restaurant/s starts with specific timetables.

4.  Core staff- Chef, cook and Manager travels to US, for training for at least 2 months.

5.  Tailor suit regular and special menu, systems and procedures and reporting requirements

6.  Marketing program - promotion strategies, website,  social networking, delivery considerations,  etc

7.  Final inspection of restaurant, dry run of all systems  and schedule soft opening

8.  Grand opening considerations

9.  Service support, monthly review, audit considerations
 
Joint Venture Cost:

1. Management of $75,000

2. Cost to retrofit each location

3. Training costs, including travel to NJ

4. Corporate office expenses, if desired

5.  Systems and procedures - Point of sale (POS) system, internal controls, security considerations

6.  Initial marketing/promotion costs.

7. Cost to operate kitchen (some items will have to be imported)

8. Royalties of 5%

 

 Profile of Prospective Location:

1. Located in the main street of a City or Town or in a mall

2. The area must be heavily commercial or combination of residential and commercial neighborhood

3. Population within a 5 mile radius at least 200,000

4.  Minimum requirement for kitchen - see capital expenditures and start up costs

5. Low rent or premise is for sale or foreclosed (strategy will be to buy the property)

6.  If located in a mall, favorable trip net lease terms (low start up rent, etc)

7.If possible,  mixed use property - residential unit at 2nd Flr

8. Availability of rooms for rent for employees- chef, cook, waiter

9. Middle to upper class neighborhood

 

A savvy buyer will be able to take advantage of this firm’s strong foundation of experience in serving healthy, delicious and authentic Thai and Asian food.

 

The ideal buyer will be an individual or firm who has experience or interest in the food industry and wants to turn this interest into a successful business model.

 

 

 

LISTING #645