Sizzling Opportunity with a Beloved Brand!
The Honey Baked Ham Co. franchise for sale in Lafayette, Indiana
List Price: $95,000 USD
Key Facts
Annual Gross Revenue
$382,809 USD
Cash Flow
$25,000 – $50,000
Seasonal Business
No
Value of Inventory
Less than $25,000
Value of Assets
Less than $25,000
Year Established
1997
Business Operates From
A retail location
Location Is
Leased
Approx. Monthly Rent
$3,000
Total Employees
Less than 10
1–3 MonthsTransition
Support
SomewhatPrice/Terms
Flexibility
NoneSeller financing Available
Part-timeOwner
Involvement
About this Business
Seize this delectable opportunity to own a profitable, growing, beloved HoneyBaked Ham Co. franchise in Lafayette, Indiana! Revel in the legacy of this well-established business that has sweetened the lives of its patrons since 1997 and been under current ownership since 2014.
The Lafayette franchise expertly carved out a revenue of $382,809 in 2022 from a steady stream of loyal customers, including both locals and Purdue University associates. Enjoying 4.2 stars on Google and a perfect 5 stars on Facebook, it’s a celebrated local treasure, without any competing HoneyBaked outlets in the vicinity. Savor low overhead costs that helped produce average cash flow of $45,528 over the past two years. With four distinct revenue streams: retail, gifting, lunch, and catering driving year over year growth, there’s massive potential to rise to new heights!
While the business exhibits a delightful upward trajectory, the current owner has scarcely scratched the surface in terms of marketing, opening the door to an ocean of untapped potential for the new owner.
New owner will inherit not just a spacious, strategically-located store in a bustling shopping area but also a dedicated team, ensuring a seamless transition as the seller embarks on retirement. Leverage the operational stability, devout customer base, and celebrated quality of HoneyBaked Ham Co. to carve out your own legacy of success. Inquire today!
Growth opportunities
Implementing innovative marketing and engagement strategies could open new horizons of growth and profitability, such as: Enhance the stores' online presence through social media; Organize in-store sampling events; Forge partnerships with local businesses and event planners to tap into catering opportunities; Implement a customer loyalty and referral programs to reward your biggest fans; Participate in local fairs and gatherings and sponsor charity events to boost brand visibility and show commitment to the community.
Owner's Day-to-Day Involvement
Current owner maintains staffing, payroll, ordering supplies and product, and overseeing catering orders. More involvement during the busy holiday season.
Asset Description
3 sandwich bars, 8 tables and 16 chairs, 2 glazing stations. Free standing freezer, shelving, work tables and equipment valued at about $25,000.
Inventory Description
Food products, including ham, turkey, sides and condiments. Paper supplies including lunch boxes.
Reason for Selling
Ready to retire
Why I Love My Franchise
I love the product, the company and our customers. Owning this franchise is fun and rewarding!
About The Honey Baked Ham Co.
The Honey Baked Ham Co. is a renowned franchise specializing in high-quality, fully cooked hams and gourmet food products. Established in 1957, the brand has built a strong reputation for its signature honey-glazed hams, crafted using a proprietary recipe that combines a sweet, crunchy glaze with tender, flavorful meat. Over the years, the company has expanded its offerings to include a variety of meats, sides, desserts, and catering services, making it a popular choice for holiday meals, family gatherings, and special occasions.
As a franchise, The Honey Baked Ham Co. provides an attractive business model with an initial investment ranging from $350,000 to $600,000, including a franchise fee of $30,000. With over 400 locations across the United States, The Honey Baked Ham Co. has successfully positioned itself in the competitive food industry, appealing to consumers seeking convenient, high-quality meal solutions. As the demand for ready-to-eat meals continues to rise, The Honey Baked Ham Co. is well-positioned for ongoing growth and success in the franchise market.
Franchisee Support
The Honey Baked Ham Co. offers extensive support to its franchisees to ensure their success in the food retail industry. New franchisees receive a comprehensive three-phase training program, including 32 hours of classroom training and 120 hours of on-the-job training. Ongoing support features a dedicated Franchise Business Leader as a liaison to the corporate office, along with access to marketing resources, including templates for advertising and social media. Franchisees also benefit from real estate assistance and a robust intranet platform for operational resources.
Brand Accolades & Awards
The Honey Baked Ham Co. has ranked on the Entrepreneur Magazine Franchise 500 every year since 2013. It has also been featured on numerous occasions on the Franchise Times Top 500 and Technomic's Top 500 Chain Restaurant Report, solidifying its status as a leader in the specialty food retail sector.
Industry / Market
The Honey Baked Ham Co. operates in the growing specialty food retail market, which is projected to reach $175 billion by 2025, with a CAGR of 3.5%. The brand’s focus on providing premium, high-quality ham and other specialty food items positions it to capitalize on the increasing demand for gourmet and artisanal food products.
Ideal Owner
The ideal owner of a Honey Baked Ham franchise is a food enthusiast with a strong background in retail and customer service. They should be organized, detail-oriented, and capable of managing a team in a fast-paced environment. A passion for quality food products and a commitment to customer satisfaction are essential qualities for success in this franchise opportunity.