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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Family Owned Pizzeria Restaurant
(Food & Beverage , Pizzeria)
Bergen County, NJ
Listed Price: $ 175,000
Listing ID: PZZA709

Listing DetailsGross Revenue: $ 450,000
Cash Flow: $ 80,000
FFE: $ 75,000 (Included in Price)
Inventory: $ 2,000 (Included in Price)
Reason for Sale:

Sale is due to owners relocation and absenteeism.


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: 2010
Days & Hours of Operation: Mon.-Sun. 11am-9pm
Non-owner Payroll: $ 8,800
Employees: 4
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 3500
Monthly Rent: $ 2,099
Square Footage: 1350
Facilities:

This is a retail facility which consist of approximately 1,350 square feet and has an attractive appearance. The business is on an active commercial avenue minutes from the George Washington Bridge. The area consists of various other active and successful businesses. This opportunity is in Northern New Jersey, Bergen County, which consists of various affluent and highly populated communities with continued demand for this industry.


SummaryBusiness Description:

Priced for a quick sale, modern pizzeria in Northern New Jersey. This long standing highly successful business has a gross yearly income of $450,000 and a net income of approximately $80,000 based on an onsite owner operator. This has been a family owned pizzeria for many years, which is now operated as an absentee owner. The core of this pizzeria menu is their pizza recipe, which the owners learned from childhood, growing up in their father’s restaurant. This is a traditional American-style pizza with artisan crust, classic batch-made sauce, and perfectly aged cheese which has thrilled pizza lovers since 1965. Whether you prefer a classic chicken parmigiana, a flawlessly balanced baked ziti, a mouth-watering Italian Classic sandwich, or a spicy or sweet mussel marinara, your dish will be perfectly prepared, and there will be enough for you to fill up and bring some home for that midnight snack. Their mouth-watering bread, which is made on premises daily, and is a great compliment to their homemade fresh mozzarella, is a delightful addition to your meal. Regarding employees and payroll, this pizzeria restaurant routinely has four full / 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 $8,800. The business transaction has an assignable commercial lease which expires 2028-01-01, plus additional options available, with a monthly rent of $2,099, cost per square foot is estimated at $18.66, and rent security of approximately $3,500. The business fixed assets has an estimated value of approximately $75,000 which is specifically based on the original equipment and licensing replacement cost. This successful pizzeria business operation is active seven days per week, with hours from 11:00 am to 9:00 pm. The business has been valued / priced at $175,000 which is based on a multiple of the net yearly income and includes 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, 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 can be further expanded by the new operator, presently has a limited marketing plan, no local advertising, poor web site and if improved can further develop the business yearly gross sales.


Financing/Terms:

Is considered to a qualified buyer with an appropriate down payment.