Pushcart Coffee Ending Service on East Broadway; Plans Cafe Expansion
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Photo: Pushcart Coffee
News broke over the weekend that three-year-old Pushcart Coffee on the Lower East Side is kaput. They close after business on Friday. It’s not the end of the brand, though. Far from it. Owner Jamie Rogers, who currently sits on Community Board 3, is hoping to franchise other stores throughout the city. He currently operates outposts in Gramercy and Chelsea.
Rogers cited low foot traffic and competition from the new Grand Street Dunkin’ Donuts and Doughnut Plant as reasons for the closure. Sales dropped in the last six months, and there just wasn’t enough revenue to afford the $4,000 per month rent. He hopes to open a new Pushcart Coffee on the LES within a year.
The original spot at 221 East Broadway remains up for grabs, though. While not mentioned in name, recent Craigslist postings seem to suggest that Pushcart (“established coffee shop”) is looking to attract entrepreneurs to take the torch, as it were, for $239,000. Our requests to confirm the seller went unanswered, but the listing in question lines up pretty snugly with recent news stories.
To the listing:
This is a Licensing opportunity.
PROFITABLE, very established boutique Coffee Shop. Currently selling bagels, sandwiches, salads, coffee and espresso. All equipment and coolers in perfect condition.
We prefer licensing to franchising because it is simpler and less restrictive, attracting people who are self-motivated and who do not want the rigid supervision of a franchise. A licensee has more control over his or her business, with the ability to adapt it ideally to the location and the demographics of its customer base.
Local hot-spot with a great reputation.
Profits of approximately $90,000 that can become $130,000 if you work in the store.
REASON FOR SELLING: further expansion.
Hours of operations: 6:30 am to 7 pm.
-We will help train you for 45 days and will assist keeping the store profitable and operational.
Our objective is to make it easy for the licensee to be successful. Your success is our success.
If you are looking to start working for yourself this is perfect.
There is very little room to negotiate lower price.
10 years lease.
R.E. taxes capped at $13,000 per year.
The owner is willing to train/assist the new owner.
Pushcart Cofee began life in 2011 as “Dora,” but aptly changed the moniker shortly after opening.