Financial Metrics
Our O2O model is predicated upon highly efficient use of both square footage and capital.
Our O2O model is predicated upon highly efficient use of both square footage and capital.
Our Brick & Mortar stores have the following characteristics:
- Selling space of less than 1,500 square feet
- Capital cost, net of landlord contribution, of less than $400,000, for commissary units; less for satellite stores
- Sales per square foot exceeding $2,000: to put this in context, Whole Foods in its last SEC filing disclosed sales per square foot of $909, and the sales/psf average for the entire supermarket industry was $618
- Prime costs ( i.e. food, labor and packaging) of less than 60% of sales
- Occupancy typically less than 8.0% of sales
- Store level EBITDA margin of 18.0%+
- Store level, steady state cash on cash return exceeding 150% annually
The call for great "take 'n' bake" food has sounded. We are answering it.
The call for great "take 'n' bake" food has sounded. We are answering it.