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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Profitable Italian Restaurant
(Food & Beverage , Restaurants)
Bergen County , NJ
Listed Price: $ 395,000
Listing ID: REST632

Listing DetailsGross Revenue: $ 1,100,000
Cash Flow: $ 166,354
FFE: $ 410,000 (Included in Price)
Inventory: $ 1,500 (Included in Price)
Reason for Sale:

This sale opportunity is due to the owner’s illness.


Training & Support:

The seller will remain post-closing in order to supply an appropriate transitional period to the new operator.


OperationsYear Established: 2013
Days & Hours of Operation: Mon.-Sun. 11am-9pm
Non-owner Payroll: $ 7,800
Employees: 10
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 26000
Monthly Rent: $ 9,200
Square Footage: 4000
Facilities:

The facility consists of an ultra-modern 4,000 square foot fully operational Italian Restaurant with a seating capacity for approximately168 customers. The business is in a mid-size commercial mall with various other active and successful businesses. This business opportunity is located on a very active county road in Northern New Jersey, Bergen County, which consists of various affluent and urban communities with continued demand for this particular service.


SummaryBusiness Description:

A must to see this Italian Restaurant with a valuable liquor license located in an active area of Northern New Jersey and in the county of Bergen. The business has a gross yearly income of $1,100,000 plus discretionary income and a consistent net yearly income based on an onsite owner. The business produces 80% food and 20% liquor sales. This highly popular restaurant is a favorite, to the locals for casual dining with excellent service. Their restaurant is family friendly and offers a wide menu selection that has something for everyone. Everything is made fresh to order, and they are proud to serve a large variety of classic and specialty Italian dishes. The relaxed atmosphere, personable service and outstanding food, wine and full bar, make this restaurant the perfect destination for your family. Takeout orders are welcome, and they also cater your next event in our house or yours. This industry does require Liquor License approval to purchase. This business opportunity has ten employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $7,800. The business has an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $9,200 and rent security $26,000. The business assists with the liquor license has a value of approximately $410,000 based on replacement cost. The business is active seven days per week, with hours from 11:00 am to 9:00 pm. The business has been valued at $395,000, plus undisclosed based on a multiple of the net yearly income and the value of the specific business assets and seller financing is available to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a highly dependable 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 various circumstances, limited liquor licenses, no other 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:

The business presently has an appropriate web site, however a limited marketing plan, and if improved can further develop the business bottom line net income.


Financing/Terms:

Available to a qualified buyer with an appropriate down payment.