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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Successful Deli/Luncheonette
(Food & Beverage , Coffee, Deli, Luncheonette)
Morris County , NJ
Listed Price: $ 250,000
Listing ID: DELI266

Listing DetailsGross Revenue: $ 555,800
Cash Flow: $ 91,600
FFE: $ 165,000 (Included in Price)
Inventory: $ 2,500 (Included in Price)
Reason for Sale:

The owner has an alternative food business out of the immediate area.


Training & Support:

The seller has agreed to remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.


OperationsYear Established: 2015
Days & Hours of Operation: Mon.-Sat. 8am-6pm
Non-owner Payroll: $ 9,100
Employees: 8
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 5000
Monthly Rent: $ 4,100
Square Footage: 1850
Facilities:

This food related business opportunity is in Northern New Jersey, Morris County, Morristown, which consists of a highly populated affluent community and has a substantial number of companies including the County court house, and a major state hospital with thousands of potential customers. This retail facility which consist of approximately 1,850 square feet has a seating capacity for twenty customers, with no basement. It also has a clean and modern appearance and this deli caterer is located on an active commercial avenue with many other successful businesses.


SummaryBusiness Description:

Wonderful location for this highly successful well-known deli luncheonette which offers a wide variety of popular traditional foods to its many satisfied customers. This six-day operation can be further improved with an improved marketing plan and delivery service. Highly popular deli has a solid gross yearly income of $555,823 and a consistent net yearly income to the operator. Additionally, the owners will finance the sale and supply the appropriate training to the new operator. The business produces 30% catering and 70% of the business is produced during the lunch period. This deli & mart is known for its delicious, fast, and affordable foods which is guaranteed to satisfy their many customers breakfast, lunch, and dinner cravings. During lunch time one can find crowds of people lined up to obtain their food orders and deliveries are consistently maintained. They offer healthy, fresh Italian cuisine and only the freshest products and finest ingredients. This is a long time, family owned and operated business, they use only the finest ingredients and imported products. Their customers can choose from their selections of breakfast items, pizzas, entrees, sandwiches, pastas, salads and homemade Mozzarella. The business also offers a selection of catering and Order Online deliver to their customers home or office. This company has eight full / part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $9,100.The business has an assignable commercial lease which expires 2025-01-01, plus additional options, with a monthly rent of $4,100, cost per square foot is estimated at $27.33 and rent security of approximately $5,000. The business fixed assets has an estimated value of approximately $165,000 which represents the value of the equipment and licensing replacement cost. This successful deli luncheonette business operation is active six days per week, with hours from 8:00 am to 6:00 pm, closed Sunday. The sale includes all required licenses, documentation including a certificate of occupancy from the local municipality licenses to conduct its day to day business. The business has been valued / priced at $250,000 based on a multiple of the net yearly income which includes the value of the specific business assets. Also, seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this business opportunity. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. Due to the non-disclosed income this transaction will require an appropriate due diligence by purchaser prior to closing.


Competition:

Morristown is a highly active and populated city with many retail food businesses, however, to the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser. Also, an appropriate due diligence by purchaser prior to closing is recommended.


Potential Growth:

The business presently has a limited marketing plan, basic local advertising, non-optimized web site and if improved can further develop the business yearly gross sales.


Financing/Terms:

Is available to a qualified buyer.