I stopped at P5 in Port Orange last night one week after their grand opening. As I pulled up there weren't many cars in the parking lot and just one person in line and a few sitting eating. The staff was cleaning up the store. Here's the good news, I was ticket 10263. 263 tickets is very impressive. I spoke to the staff as they set me up on my Crust of Friends card. I was told that they were so busy the first week they ran out of to go boxes. They had to buy some generic ones.
I plan on giving my late test again in about a month on a Monday. If t5hey can average 263 tickets a day times $18 average times 360 days=$1,700,000. I also want to bring it to the attention, Daytona still hasn't hit it's stride on tourism. That begins next week with the crowd for the Daytona 500 and continues through the summer. I hope that they find a way to promote the product to the bikers that will be coming to town in early March. Since Daytona has so many events that bring back repeat customers, just like us, we all like to visit restaurants in places we travel and look forward to going back if we like the product. Bikers come to Daytona and return for the next 20 years. They look forward to the break in the weather from all around this country. Bet Den56 would agree on that point.
I also heard that Denver could go next on the store openings. I don't know if this is company or franchise. I also heard they will get aggressive on store development. Expect some news updates in the near future.
So far this Port Orange store is blowing the doors wide open. It's not the greatest location and still impressive numbers.
I suppose the time of day you arrived would be an important indicator too. if you arrived after lunch peak then it is not unusual for crew to be cleaning and the sparse showing. Oh well - not a concern since it is all about the peak times and even management claims they are more of a lunch crowd gathering followed by diner.
Economics. If this store does $1.5M this is some nice revenues for P5. First they collected $20K up front. Then they get 6% of 1.5M which works out to $90K. The food and supplies maybe $500K to this store and PI makes about 17% on that or about $85K. Not bad for one single store!
$175K a year for the next 20 years. Look for numbers to be out before 2-14-14. If they turn a profit, this could break $10.