You Could “Buy” The Last Remaining Friendly’s In Maine
For decades, Friendly's was one of the most loved New England restaurant chains. Then, over the course of just a few years, we started to see the chain's locations close, one by one. Augusta, Bangor, etc...
As of November 2022, there is only one Friendly's location left in the State of Maine. The one remaining Maine location of the chain, which was founded in Springfield (Massachusetts) in 1935, is located on Maine Mall Road in South Portland.
If you have always dreamed of operating an iconic restaurant like Friendly's, I've got great news - you could be the next "owner" of this location!
Well, "owner" probably is not the correct term. The South Portland location, like most (if not all) of the remaining locations, is owned by the Amici Partners Group. The corporation bought the rights to the Friendly's restaurants and ice cream in January of 2021. However, they are looking for a new franchisee for that location.
According to BizQuest, the asking price for the property is $475,000.
However, because the buyer will be a franchisee there are other stipulations:
Because this is a corporate store there is limited financial information. Franchise agreement and lease are transferable and the franchisor will help with training and transition. Also, friendly’s is updating their POS system to Revel which has a lot more capabilities such as cloud based, digital, allows for tablets for the servers and more. Plus, potential buyers need to meet Friendly's corporate requirements of a net worth of $500,000 and a liquid net worth of $300,000.
Get more details about the property HERE
In addition to their amazing ice cream offerings (like the Fribble), the restaurant serves up great sandwiches, chicken tenders, fries, and they have one of the best breakfast menus in Maine. And, this location, which has been around for 35 years, also has a drive-through!