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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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New York Style Pizzeria
(Food & Beverage , Pizzeria)
Bergen County , NJ
Listed Price: $ 169,000
Listing ID: PZZA714

Listing DetailsGross Revenue: $ 725,000
Cash Flow: $ 85,000
FFE: $ 125,000 (Included in Price)
Inventory: $ 1,200 (Included in Price)
Reason for Sale:

Owner is retiring.


Training & Support:

The owner will remain post-closing and is prepared to supply an appropriate transitional period consisting of weeks to the new owner / operator.


OperationsYear Established: 2004
Days & Hours of Operation: Mon.-Sun. 11am-10pm
Non-owner Payroll: $ 20,000
Employees: 8
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 7500
Monthly Rent: $ 4,027
Square Footage: 2000
Facilities:

The business has a convenient location which services numerous local residents and businesses. The facility which consist of approximately 2,000 square feet has a modern and attractive appearance. The business is on a commercial avenue with various other active and successful businesses and near to numerous highways. This restaurant business opportunity is in Northern New Jersey, Bergen County, which consists of various highly populated communities with continued need for this industry.


SummaryBusiness Description:

Successful New York style pizzeria restaurant with a $725,000 gross yearly income and a consistent net yearly income to the owner operator. This twenty-five-year-old business has a wonderful and well-known reputation to its many customers. The business has 50% delivery and small percentage of catering. The business is known for its delicious, fresh Italian Cuisine, and they offer a great lunch, dinner and wonderful service. They have a great selection of Lunch and Dinner selections, daily specials and Free Delivery. The passion to provide delicious Italian Cuisine and Brick Oven Pizza has always been a driving force for this restaurant. Regarding employees and payroll, this Pizzeria and restaurant company routinely has eight 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 $20,000. The business transaction has an assignable commercial lease which expires 2023-01-01, plus additional options available, with a monthly rent of $4.027, cost per square foot is estimated at $24.16, and rent security of approximately $7,500. The business fixed assets has an estimated value of approximately $125,000 which is specifically based on the original equipment and licensing replacement cost. This successful restaurant business operation is active seven days per week, with hours from 11:00 am to 10:00 pm. 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. The business has been valued / priced at $169,000 which is based on a multiple of the net yearly income and 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.


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:

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