Description:

The business offering consists of an award-winning barbeque restaurant franchisor, 11 corporate barbeque restaurants, and the administrative office.

Key Aspects:

From 2019 through 2022, revenue from all corporate restaurants grew at a compound annual growth rate (CAGR) of 6.6%
From 2021 through 2022, revenue and gross profit (from all corporate restaurants) grew by 7.6% and 4.4%, respectively
From 2019 through 2022, adjusted EBITDA for the franchisor grew at a CAGR of 7.0%
Successfully serving customers for over 34 years

Opportunities:

Continue to develop the franchise, expand geographic reach, and add additional locations to increase revenue
Increase marketing efforts through new channels to capture a greater market share
Expand the existing customer loyalty program
Continue to negotiate pricing agreements with key suppliers to support margin growth

Headquartered:

Current Markets:

Each restaurant serves individual consumers with dine-in, take-out, online ordering, and catering options, in six US states.

Real Estate:

As of 2023, the company operates from 11 corporate restaurants and an administrative office. Affiliated entities own the real estate for five corporate restaurants and the administrative office space, while the company leases the remaining six corporate restaurants from unrelated third parties. Ownership does not intend to include real estate as part of the company sale. However, ownership is open to negotiating long-term leases for the affiliate owned real estate.

Shareholder Ownership:

All entities included in the sale have one active shareholder who is the largest individual shareholder in eight of the 11 corporate restaurants, the administrative office, and the franchisor. Various passive shareholders hold the remaining ownership. All shareholders agree with the proposed sale. The active shareholder is willing to remain with the company during the transition of ownership.

Benchmark International

Barbeque Restaurant Chain and Franchisor – BN000041329