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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Irish Pub/Restaurant w. R.E
(Food & Beverage , Restaurants)
Warren County , NJ
Listing ID: REST624

Listing DetailsGross Revenue: $ 1,970,000
Cash Flow: $ 185,000
FFE: $ 650,000 (Included in Price)
Inventory: $ 2,000 (Included in Price)
Reason for Sale:

The owner is absentee out of the immediate area.


Training & Support:

The owner will remain post-closing for in order to supply an appropriate transitional period to the new operator. Also, if required the seller will supply additional training at a fair cost to the purchaser.


OperationsYear Established: 1985
Days & Hours of Operation: Mon.-Sun. 11:30am-2am
Non-owner Payroll: $ 32,400
Employees: 32
Absentee Owner: No
LocationLease Expire: 0000-00-00
Square Footage: 6000
Facilities:

This popular restaurant pub located in Morris County, New Jersey and has existed for many years and has been upgraded during the past few years to a modern exciting retail Irish pub restaurant. The facility which consist of 6,000 square feet has an attractive Irish flair with a modern professional appearance. The business consists of a free-standing structure on an active commercial avenue with many other active and successful businesses. The general area consists of various highly populated communities located in Northern New Jersey with continued demand for this particular food service.


SummaryBusiness Description:

Authentic Irish Pub Restaurant which includes the real estate, with a gross income of approximately $1,970,000 and a consistent yearly net income to the owner operator. This highly successful opportunity is located in Morris County, New Jersey. The business gross sales consist of 50% liquor, 50% food with a substantial markup/return to the owner operator. The restaurant is committed to satisfying their customers with great food, drinks and excellent friendly service. The restaurant also offers catering events with substantial growth potential. The bar offers a large variety of draft beers from Ireland, Belgium, England and American craft breweries. A small but concise wine list has something for all palates and an extensive Scotch and Irish Whisky list provides a perfect ending to your meal. Service is friendly, efficient and unobtrusive with a few Irish employees always. The restaurant also has a 4,800-square foot second floor banquet hall, currently not in use and requires updating and has the capacity for an additional two hundred patrons. If you are looking for catering this restaurant offers several types of functions including Corporate Events, Brunch, Luncheons, Dinners, Cocktail Parties, Meetings, Birthdays, Anniversaries, Rehearsal Dinners as well as Bridal and Baby Showers. This industry requires government agency approval to purchase due to the transfer of the NJ State issued consumption Liquor License. This most unusual business opportunity with an asset value of approximately $650,000 based on replacement costs, consists of a fully equipped Irish Pub Restaurant which includes a valuable consumption liquor license, fully equipped upgraded commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, fire suppression system including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. This business has thirty-two full and part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll represent is approximately $32,400, 24% of the gross income which is above the industry standards. The business is active seven days per week, with hours from 11:30 am to 2:00 am. The sale includes a NJ issued consumption liquor license, a certificate of occupancy from the particular municipality and the required city licenses to conduct its daily business. The sale has been valued based on a multiple of the net yearly income, property value, the value of the liquor license and specific business assets. Also, seller financing has been approved to a qualified buyer with an appropriate down payment, credit rating and collateral. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a consistent investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this particular business.


Competition:

To the best of our knowledge due to the limited liquor licenses, no new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.


Potential Growth:

Although the business has substantially increased its gross income, with on site ownership and an improved marketing plan, improved management the business can be further improved.


Financing/Terms:

Is available to a qualified buyer with an appropriate down payment.