New
Abbott's Frozen Custard For Sale in the French Quarter of New Orleans
Duran Advisors presents this dessert business for sale in the French Quarter of New Orleans, Louisiana. The company has weathered the pandemic storm. The business grossed 275,000 and achieved $60,000 in net profit for 2022 with limited hours. 2023 gross sale are estimated to be almost identical. The company boasts a full staff with management in place. The current owner only works 10 hours per week doing tasks that another owner may want to hand off to the staff.
The business is located in the heart of the French Quarter, with extremely high foot traffic passing the storefront daily. It has a tried and proven system with one of the tastiest products in the area. The business also handles catering for events with ample opportunity to grow that side of the business. The location boasts a beautiful build-out with plenty of auxiliary storage. The equipment in the business is almost brand new. The lease is considered low for the French Quarter. The landlord must approve a potential buyer. The business is being sold for significantly less than the cost to build the store new!
Territory rights for the New Orleans metropolitan area are also available for sale.
A Matterport 3-D virtual reality digital twin of the space is available to fully disclosed buyers, as well as a 40+ page Confidential Information Memorandum (CIM).
Come and see this great shop, taste its incredible products, and make an offer before it's too late!
For serious inquiries, contact the listing broker, Joel Duran, CM&AA, CM&AP, CEPA, CMSBB at (504) 321-0196.
Listed By: Joel Duran, CM&AA, CM&AP, CEPA, CAIM, CMSBB
Background information
Reference:
NOLA-0086
Year established:
2020
Reason selling:
New Career
Finance
Sales:
$275,000
Profit type:
Undisclosed
Operations
Employees:
Currently 5 part-time
FF&E:
Approximately $112,000
Inventory:
Inventory (at cost) averaged approximately $15,000 in 2022.
Premises
Facility:
Beautiful build-out with almost new equipment.
Square footage:
784 Sq. Ft.
Rent and lease terms:
Rent is $2,480 (includes CAM). The current lease expires in February 2027 followed by 1 three year option.
Location:
The French Quarter of New Orleans, Louisiana. This historic district is an international tourist destination with incredibly high foot traffic year round.
Opportunities
Growth:
In 2024, the business is projected to have it's best year ever. There is ample opportunity to grow the business which are listed in the CIM.
Market:
Because of the pandemic there are less restaurants than ever in the French Quarter of New Orleans. The French Quarter Business Association projected that in 2023 tourism would return to pre-pandemic levels.
Price and terms
Listed Price:
$230,000
Financing:
Owner financing is available on a case-by-case basis.
Training:
The owner will train the buyer for two weeks and then be available by telephone as necessary.