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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Retail Liquor & Lotto
(Food & Beverage , Liquor Stores)
Passaic County , NJ
Listed Price: $ 225,000
Listing ID: LQST378

Listing DetailsGross Revenue: $ 292,668
Cash Flow: $ 47,451
FFE: $ 145,000 (Included in Price)
Inventory: $ 35,000
Reason for Sale:

Owner is absentee with full-time employment.


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 may be available to supply additional training, at a fair cost to the purchaser.


OperationsYear Established: 1973
Days & Hours of Operation: Mon.-Sun. 9am-9pm
Non-owner Payroll: $ 3,400
Employees: 2
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 3500
Monthly Rent: $ 2,400
Square Footage: 1500
Facilities:

This successful retail facility which consist of approximately 1,500 square feet has a clean and professional appearance. This liquor business is on an active commercial avenue near to various national business operations which attract many daily shoppers and workers. This opportunity is in Northern New Jersey, Passaic County, which consists of various highly populated communities with continued demand for this industry.


SummaryBusiness Description:

This long-standing retail liquor business has been active for the past fifty years, serving it’s North Jersey, Passaic County customers with quality product and service. The company has a gross income of $292,668 plus Lotto and Rips which nets $67,453. They are a family owned retail liquor business serving their neighborhood and adjoining communities. While there are hard to find expensive and sometimes rare bottles of both liquors and wine, the only appeal and true value of any bottle is in the pleasure it brings to you. Whether you're looking for very special bottles, searching for a gift or planning an event or party, they can introduce their selections that offer their customers diversity and quality with pricing that allows you to enjoy better more often. This shop will offer choices that combine quality with value at all price points. They are committed to providing their customers with great service and friendly expert advice and they recognize that it's your appreciation and your satisfaction that's important, and that's what will always be most important to us. For Qualifications purposes, this business opportunity industry requires State government licensing approval to purchase or operate in addition to the standard required municipal licenses. Regarding employees and payroll, this retail liquor business consist of two part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $3,400. The business transaction has an assignable commercial lease which expires 2027-01-01, plus additional options available, with a monthly rent of $2,400, cost per square foot is estimated at $19.20, and rent security of approximately $3,500. The business fixed assets has an estimated value of approximately $145,000 which is based on the original equipment and licensing, buildout & replacement cost in addition to the multiple of the existing net yearly income. This retail liquor business operation is active seven days per week, with hours from 9:00 am to 9:00 pm. The company routinely has approximately $35,000 of marketable inventory and the purchaser will be responsible for that cost at time of closing, based on wholesale value. The business has been valued / priced at $225,000 which is based on a multiple of the net yearly income and the value of the specific business assets. Also, possible 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 the photo does Not represent this particular business opportunity.


Competition:

Regarding competition, no new liquor licenses are available to this city and 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:

Regarding competition, no new liquor licenses are available to this city and 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.


Financing/Terms:

Seller financing is available to qualified buyer