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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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BBQ Fast Food Restaurant
(Food & Beverage , Fast Food)
Essex County , NJ
Listed Price: $ 150,000
Listing ID: FF354

Listing DetailsGross Revenue: $ 347,000
Cash Flow: $ 48,236
FFE: $ 85,000 (Included in Price)
Inventory: $ 1,500 (Included in Price)
Reason for Sale:

The sale is due to the owner is relocating out of the state of New Jersey.


Training & Support:

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


OperationsYear Established: 2009
Days & Hours of Operation: Mon.-Sun. 11am-10pm
Non-owner Payroll: $ 5,850
Employees: 4
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 75000
Monthly Rent: $ 4,850
Square Footage: 2500
Facilities:

The restaurant is in a commercial mall on an active highway with a great deal of drive by traffic. The business which consist of approximately 2,500 square feet has an attractive and modern appearance. The business is in a mid-size commercial mall with various other active businesses which attract many local shoppers. This opportunity is in Northern New Jersey, Essex County, which consists of various highly populated urban communities.


SummaryBusiness Description:

Popular fast food BBQ restaurant located in Northern New Jersey and in the county of Essex. The business has a gross income of $347,000 and a consistent yearly net income to the owner operator. The owner is relocating and retiring from the food industry. This restaurant consists of a 50-seat counter service restaurant in a highly active urban city honoring the uniquely American tradition of crafting pit smoked barbecue. Barbecue is religion to many Americans; wherever you’re from and they create their own style of ‘cue that melds the tradition of wood fire cooking with responsible farming and flavor profiles. This industry does not require government licensing approval to purchase or operate other than the municipal food license. This company has four full / part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $5,850. The business has an assignable commercial lease which expires 2025-01-01, plus additional options, with a monthly rent of $4,850 all in, cost per square foot is estimated at $23.28, and rent security of approximately $7,500. The business fixed assets has an estimated value of approximately $85,000 which is based on equipment and licensing replacement cost. This transaction consists of a fully equipped commercial Restaurant which includes a commercial BBQ kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, web site, 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 successful restaurant business operation is active seven days per week, with hours from 11:00 am to 10:00 pm. The business has been valued / priced at $150,000 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. 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. 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 particular business opportunity.


Competition:

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.


Potential Growth:

The business presently has a limited marketing plan, poor web site and if improved can further develop the business yearly gross sales.


Financing/Terms:

Can be considered to a qualified buyer with an appropriate down payment.