Question regarding a Nextdoor post... they said Salad And Go on Rockwell (and Memorial) was not going to open after all (despite the fact that I am pretty sure it's completely built). Given the fact that it's not listed on their website, this rumor may be valid. Since Pete always has the answers, I thought I would ask here.

Question regarding a Nextdoor post... they said Salad And Go on Rockwell (and Memorial) was not going to open after all (despite the fact that I am pretty sure it's completely built). Given the fact that it's not listed on their website, this rumor may be valid. Since Pete always has the answers, I thought I would ask here.

Just yesterday, they filed for the sign permits at that location.

Just yesterday, they filed for the sign permits at that location.

Thanks Pete!

What's going in just to the south (they are moving dirt there)? I found everything on the other side of Rockwell, but I seemed to miss this one. Thanks again!

Thanks Pete!

What's going in just to the south (they are moving dirt there)? I found everything on the other side of Rockwell, but I seemed to miss this one. Thanks again!

Take 5 oil change.

19467

Any truth to this? Or reason why? Not sure why they would complete the build and then not open (unless they can't get enough employees, but then I would think it would be just delayed).

19467

Any truth to this? Or reason why? Not sure why they would complete the build and then not open (unless they can't get enough employees, but then I would think it would be just delayed).

Well that's unfortunate if true. I work around the corner and was looking forward to having this option for lunch :(

19467

Any truth to this? Or reason why? Not sure why they would complete the build and then not open (unless they can't get enough employees, but then I would think it would be just delayed).

Makes me wonder if their other stores aren't meeting their profit targets...?

The two Salad and Go's I drive by always seem to have a line in North Edmond and NWOKC, especially at breakfast time for the burritos.

My hope is this location had a franchisee back out or similar and they try to open in the near future under different local ownership?

^
All Salad and Go locations are corporate. They don't do franchising.


This is all very odd.

It's been brightly lit for weeks, menu posted, etc. Drove by last night and it was dark -not a single light on.

When was the last time we saw something like this in OKC?

It's been brightly lit for weeks, menu posted, etc. Drove by last night and it was dark -not a single light on.

When was the last time we saw something like this in OKC?

That Swig place on NW 23rd, between Pennsylvania and Villa. Wasn't open a week IIRC. Happened within the last 4 months.

I don't get over that way much but is the building completed and all they have to do is open? I can't imagine they'd spend that much money with zero return. I wonder if they're going to still open the May/178th location. Every time I've passed a location there's been a line.

That Swig place on NW 23rd, between Pennsylvania and Villa. Wasn't open a week IIRC. Happened within the last 4 months.

CEO left December 31st following differences on strategy with the Board. Sounds like a shake-up happening.

https://www.restaurantbusinessonline.com/leadership/charlie-morrison-leaving-salad-go

19471

It appears 3 locations are now listed for sale in the OKC area and one in Tulsa.

https://www.crexi.com/properties?sort=Relevance&term=salad%20and%20go%20oklahoma

^

They are looking to make several sales/leasebacks to free up cash.

I bet they over-expanded too quickly and are dealing with a cash-flow problem.

I remember the enthusiasm here for Salad and Go, when they first started opening stores in the OKC area and when the Western & NW 164th location opened, I tried a breakfast burrito and was not impressed. Maybe a year passed and I tried a salad. Again, not impressed.

Last week, on seeing that the NW 178th & May location may still happen, I went back a third time and I tried a wrap and now I'm hooked!! I had the chicken fajita wrap that day and today I had the chicken BBQ Ranch wrap. Freaking amazing and I really hope the NW 178th location happens.

For those of us not super knowledgeable about such things, what exactly are they trying to accomplish by listing these sites? Are they looking for a franchisee or someone that will just take over the building and put their own business in it?

^
All Salad and Go locations are corporate. They don't do franchising.


This is all very odd.

I got a salad there last night and asked the girl at the window if they were closing down and said not as far as she knew... shed heard about the one not opening.

It really seems odd that you'd spend the money to build the place but then make the decision not to open. Sounds like some other factor almost has to be in play.

^

They are looking to make several sales/leasebacks to free up cash.

I bet they over-expanded too quickly and are dealing with a cash-flow problem.

Oh man, that's not a good sign. Hope they figure something out.

For those of us not super knowledgeable about such things, what exactly are they trying to accomplish by listing these sites? Are they looking for a franchisee or someone that will just take over the building and put their own business in it?
Not sure about all of them, but for the sale-leasebacks they are trying to sell the locations, then lease them back from the buyer. This unlocks all the cash they have tied up in the real estate so they can address cash flow problems like Pete said.

As far as their food goes, I have a BBQ chicken wrap about once a week. Quick, cheap and tasty.

For those of us not super knowledgeable about such things, what exactly are they trying to accomplish by listing these sites? Are they looking for a franchisee or someone that will just take over the building and put their own business in it?

I think an aggressive business wants to make profit building their own buildings; make profit leasing the finished building to their own retail business; and have the retail business make enough profit to let them expand quickly. I'm guessing Salad and Go isn't making enough retail profit to fund expansion currently, so they will sell the properties and lease them from the new property owners.

This is all done with different companies at each level that usually have most of the same investors.

^
Sale-Leasebacks are a common way for businesses to expand. Many companies use it as a cheaper way to raise capital for expansion and is not by itself an indication of a company experiencing problems.

Thank you everyone for that info!

We go to the Covell & Kelley location in Edmond all the time, but it never seems that busy.

We go to the Covell & Kelley location in Edmond all the time, but it never seems that busy.
Same.

19471

It appears 3 locations are now listed for sale in the OKC area and one in Tulsa.

https://www.crexi.com/properties?sort=Relevance&term=salad%20and%20go%20oklahoma

I've got probably a dumb question. How is a relatively small and simple building 1.5-2 million bucks? Is it just the value of the land due to the location? Limited zoning for businesses..? Just honestly a bit shocked to see numbers like that

I've got probably a dumb question. How is a relatively small and simple building 1.5-2 million bucks? Is it just the value of the land due to the location? Limited zoning for businesses..? Just honestly a bit shocked to see numbers like that

It's all based on future cash flow of the existing long-term lease with a national credit tenant.

They use something called the Cap Rate to determine the value, which is the standard in purchasing income-producing commercial real estate.