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Modern Tea and Boba Shop - Huge Upside for Local Owners

Monrovia, CA
Interior table setup
Interior table setup
Asking Price:$125,000
Gross Revenue:$300,000
Rent:$4,000/Month
FF&E:$100,000
Cash Flow:$10,000
Inventory:$10,000
EBITDA:$15
Established Year:2020
Listing ID: 2292448Listing provided by BizBuySell
BUSINESS DESCRIPTION

Heart of Old Town Monrovia - Craft Tea Store

Long established boba and tea shop located at 101 W Foothill Blvd, in Old Town Monrovia. Our space is curated for a modern aesthetic look, and we serve as a central spot for locals to come during their day in town, to come study, and for local organizational gatherings. We pride ourselves in our own unique recipes, one of a kind space, and atmosphere that is not found anywhere else in Monrovia. Excellent opportunity for new ownership, current ownership is no longer local and currently managing it remotely with part-time manager.

We are well established and reviewed in the community, with a 4.6 rating on Google and 4.4 on yelp with hundreds of reviews. There is huge upside with local owner, we currently partner regularly with local community organizations for events/fundraisers, plenty of room for more.

Currently leasing with $3900/month rent, increasing by $200 every year during March

Boba Box - Google
https://www.yelp.com/biz/boba-box-monrovia-2
https://bobaboxtea.com

DETAILED INFORMATION
Location
Monrovia, CA
Inventory
Included in asking price
Real Estate
Leased
Building SF
2,000
Lease Expiration
01/03/2028
Employees
10
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
Full set up kitchen. Newly constructed wall that was set up to separate out the kitchen/register area Common space: Couch + coffee table 8 tables 15 chairs core decor + decor for multiple seasons in storage Kitchen: ice maker 3 commercial freezers 2 commercial flat top fridges 2 commercial sinks (1 of which is 3 compartment) commerical tea maker 2 fructose machines Misc food warmers, commercial blenders, electric stoves, microwaves and smaller kitchen appliances Storage: commercial fridge off site equipment
Competition
There are currently a couple other boba stores in Monrovia but the biggest draw to Bobabox is the space. Other stores are no more than a couple hundred square ft and we have learned that events are by far the most popular way to generate revenue. We have partnered with local organizations and more recently more private parties to have events and fundraisers at our space that have been successful
Growth & Expansion
Alot of room to grow in terms of events. Because ownership is no longer local, it is hard to reach out to more local organizations to line up events and partnerships. We have started listing our space on Peerspace and have seen inquiries and multiple bookings in the first couple weeks for both private and semi-private events. Plenty of upside in terms of cost saving - currently we pay for nearby storage due to us being remote, we pay premium for a part-time manager, and there are many things that we get delivered instead of procuring locally.
Support & Training
Can offer couple days of training + overview of business in person. Can offer a couple weeks of help through email/text/phone afterwards. There is currently a part-time manager that handles most of the logistics that I recommend you re-hire to help aid the transition process
Reason for Selling
Owners are no longer local. We are currently running this business remotely
BUSINESS LOCATION
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Leo Kwan
Phone Number
Leo Kwan
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