Lovejoy's Tea Room, a cozy tea house located in downtown Redwood City is for sale. Lovejoy's serves a wide variety of teas, along with finger sandwiches and assorted baked goods. Open since 2016, they were a popular site for private events for local tech companies such as Facebook prior to the pandemic. The business is poised for a comeback to pre-pandemic numbers. The sale of this location includes the exclusive rights to purchase an additional license for an additional Lovejoy's Tea Room in the area that includes Redwood City, San Carlos, Menlo Park, Palo Alto, and Mountain View. The sale also includes furniture and fixtures, recipes, retail inventory, inventory of food and supplies, tea service rental settings for 30, social media accounts, customer goodwill, the current owners' goodwill, and personalized training and support (including lease negotiation consulting and employee training support). This business offers multiple opportunities for revenue growth. Prior to the pandemic, the tea house was open to the public four days/week to accommodate the current owners' desire for work-life balance. A new owner/operator could expand days and hours of operations, expand the retail offerings, and expand catering services and private events. The landlord will be providing a new long term lease for a buyer at fair market value. More information available upon request.

General Info

  • OrganizationSole Proprietorship
  • Established2016
  • Current OwnerContact for Info
  • EmployeesContact for Info
  • Reason For SaleOther Interests

Facilities

  • SeatingContact for Info
  • Square Feet1,480
  • ParkingStreet and Lot Parking
  • LicensesBusiness and Health Permit
  • Open HoursWednesday - Saturday 11am-6pm

Lease

  • Rent$5,822
  • ExpirationSeptember 2021
  • Yearly IncreaseFixed Yearly Increases
  • Option5 Year Option
  • Deposit$4,000

Financials

  • Monthly Revenue$27,026
  • Monthly Cash Flow$11,168
  • Annual Revenue$324,314
  • Annual Cash Flow$134,017
  • Payroll$Contact for Info

Financing

  • Down PaymentContact For Info
  • Note BalanceContact For Info
  • Terms of NoteContact For Info
  • All CashContact For Info
DISCLAIMER: The above financial information was supplied by the seller and has not been verified by broker. Broker makes no representation about the accuracy or completeness of the information and does not guarantee future performance. It is the responsibility of a prospective buyer to make their own inspection of all financial and other business records, and to seek independent financial and legal counsel regarding any purchase of this business and/or real estate.

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