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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Japanese Sushi Restaurant
(Food & Beverage , Restaurants)
Morris County , NJ
Listed Price: $ 225,000
Listing ID: REST633

Listing DetailsGross Revenue: $ 670,000
Cash Flow: $ 84,000
FFE: $ 170,000 (Included in Price)
Inventory: $ 2,000 (Included in Price)
Reason for Sale:

The owner is absentee out of the area.


Training & Support:

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


OperationsYear Established: 2004
Days & Hours of Operation: Mon.-Sun. 11am-9:30pm
Non-owner Payroll: $ 7,000
Employees: 7
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 12000
Monthly Rent: $ 7,400
Square Footage: 2000
Facilities:

The restaurant consists of a 2,000 square feet facility with a warm and attractive appearance. The business is in a mid-size commercial mall with various other successful businesses. This business opportunity which is in Northern New Jersey, Morris County, on a highly active highway. The general area consists of various affluent communities with continued demand for this product and service.


SummaryBusiness Description:

Japanese Sushi Restaurant in Morris County with a gross income of $670,000 plus discretionary income and a consistent net yearly income to the owner operator. This highly popular restaurant began delighting customers in 2006. Their menu features are many creative Japanese and Korean dishes, both traditional and contemporary. They offer a wonderful selection of soups, appetizers, sushi, sashimi, amazing Chef’s specialty rolls, as well as traditional teriyaki, and bento boxes. For more traditional Japanese tastes, they offer numerous noodle soups, combination plates, and selections of tempura and teriyaki available in both appetizer and entrée sizes. They welcome you to taste these dishes with their Chef’s unique flair, while enjoying the warm ambiance of their restaurants. They offer special services for parties, corporate function or business meeting in their restaurant or prepared for home parties. This business has seven employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $7,000. The business has an assignable commercial lease which expires September 17, 2026 plus additional options, with a monthly rent of $7,400 all in, cost per square foot is $41.40 and rent security $12,000. The business fixed assets has an estimated value of approximately $170,000 which is based specifically on replacement cost. The business is active seven days per week, with hours from 11:00 am to 9:30 pm. The business has been valued at $225,000 based on a multiple of the net yearly income including the value of the specific business assets and seller financing has been approved 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 consistent investment return to the owner operator prior to debt service. 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.


Competition:

To the best of our knowledge, due to various circumstances, 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 has a limited marketing plan, basic web site which can be improved to further develop the business net income.


Financing/Terms:

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