Basics
- Date added: Added 4 years ago
- Category: Commercial, For sale
Description
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Description:
Currently profitable Pita Pit priced to sell. Opening a new franchise with Pita Pit can cost over $500k. This Pita Pit is in a prime location, and with an engaged owner, poised for exceptional growth. The 1525 SF store is in clean, turnkey operational status.
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Located in the Academic and Student Recreation Center on Portland State's campus and on Tri-Met bus, trolley, and max stops, this Pita Pit location was built for high volume:
-25,000 PSU student enrollment
-100,000 downtown Portland employees
-New Construction (just opened!!): 7-story PSU, OHSU, PCC, City of Portland multi-use building directly across the street
-New construction (earlier this year): 15-story 424 unit residential apartment building one block over
-Potential new construction: 16-story senior living complex one block over
-Catering opportunities for all of Portland, Beaverton, Tigard, and Hillsboro
As the current owner, I have a long, successful history with Pita Pit having opened, owned, operated, then sold a Pita Pit in Mammoth Lakes, CA (2005-2015). In 2014 I was recruited by the franchisor, Pita Pit USA, to work as a Business Coach for West Coast Pita Pit franchisees. My parents (silent partners) and I bought this store in 2016 after which I continued dedicating 99.9% of my time, effort, and energy toward helping other franchisees as their Business Coach instead of focusing on my own store. As I traveled across the country, I had a “I’ll get to my store later” mentality, viewing other franchisees’ needs as more urgent. During this time the guest experience was great, however, restaurant efficiency and sales growth were stunted.
In the advent of COVID, I was laid off from my corporate job and am now working the PSU Pita Pit store daily. In returning to operations, it has become crystal clear that I am burned out on the service industry. Employee and guest engagement no longer spark the joy that it once did, and my heart is headed toward other pursuits. Now is the time to pass the baton to a passionate owner with fresh energy who is excited to take this store to the next level…from my 16 years of Pita Pit experience, I honestly believe the next level for this store is imminent, immediate, and lucrative (catering is increasing, 3rd party sales are rockin’ new and existing buildings are opening up, and hopefully PSU Campus will bring student back soon!). To note, for confident buyers that want to move quickly, discounted offers will be seriously considered. I’m ready to move on!
Regretfully, little effort has ever been directed toward marketing, which opens an opportunity: Students, faculty, business professionals, and residents are all eager to enjoy the deliciousness Pita Pit offers, they just need to be informed!
This restaurant boasts smooth operations, an awesome staff, and plenty of franchise support if needed! No business or restaurant experience necessary; buyers should bring a strong work-ethic, social prowess, and the burning desire for FUN. Capitalize on this sweet opportunity to start a new life-adventure as a business leader by providing “fresh thinking, healthy eating” to the PSU and Greater Portland community.
BONUS! This location has been freshly re-modeled in the past couple years to represent the latest and greatest Pita Pit brand specs including new equipment.
Pita Pit is a brand with over two decades of experience and more than 600 locations worldwide. They embrace a cult-like following of pita fanatics stemming from original US stores being located on college campuses as late night hot-spots. The brand has matured, but the fun is permanently ingrained in the DNA.
From the franchisor:
"Pita Pit is the quick-service restaurant (QSR) franchise of the future! We’ve spent years dedicating ourselves to a fresh and healthy restaurant experience that doesn’t sacrifice convenience. With a simple business model and a time-tested menu that customers love, we’re just the healthy sandwich franchise you’ve been looking for."