Two fast casual chains have locations for sale in Atlanta.
The Shumacher Group, a local firm in Atlanta specializing in the sale of restaurants, currently features two interesting pairs of restaurants for sale.
In one listing, a pair of "open & operating" Newks Eatery locations are available. One is on Peachtree Street at the Metropolis in midtown, the other at Briarcliff and North Druid Hills Roads in The Village at Druid Hills.
The midtown Newk's opened in late 2013, while the North Druid Hills location opened in early 2014. According to the sales listing, both locations are profitable. The listing goes on to say "Owners have recently secured [a] contract to provide food for a major University."
In another listing, a pair of Uncle Maddio's Pizza Joint locations are available. In this case, locations in Kennesaw on Chastain Road, and on Cobb Parkway at Akers Mill are offered for sale. Both Uncle Maddio's being offered opened in 2012 . The Akers Mill location showed a gross sales decline of nearly 11% while the Kennesaw location showed a decline of about 18%.
Interested parties in the Newk's are seemingly signing up for a Newk's franchise while the would-be Uncle Maddio's buyer is invited to "keep or convert."
With both concepts rather new and all locations opened with the past three years, why are they for sale?
What are your thoughts on these respective concepts? Why do you think they are for sale? If a buyer "converts" one or both Uncle Maddio's locations, what would you like to see open in their place?
Please share your thoughts below.