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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Pizzeria Restaurant
(Food & Beverage , Pizzeria)
Morris County , NJ
Listed Price: $ 250,000
Listing ID: PZZA718

Listing DetailsGross Revenue: $ 550,000
Cash Flow: $ 81,000
FFE: $ 165,000 (Included in Price)
Inventory: $ 2,500
Reason for Sale:

Owner is relocating.


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: 2016
Days & Hours of Operation: Mon.-Sun. 11am-9pm
Non-owner Payroll: $ 1,300
Employees: 7
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 9000
Monthly Rent: $ 5,100
Square Footage: 2900
Facilities:


This opportunity is in Northern New Jersey, Morris County, the general area consists of various highly populated communities with continued demand for this industry. This successful retail facility which consist of approximately 2,900 square feet have an attractive modern appearance and this restaurant is in a mid-size commercial mall with various other active and successful businesses.


SummaryBusiness Description:

Ultra-modern four years young Italian Pizzeria Restaurant located in Northern New Jersey, Morris County. The business has a gross yearly income of $550,000 and a consistent net yearly income of $81,500. This attractive Pizza & Italian Cuisine is family-owned and located in wonderful commercial area of Northern New Jersey. The offer indoor and outdoor seating (seasonally) and are happy to supply wine glasses if you choose to bring a bottle to enjoy with your meal. The company has a delivery service which represents 30% of the gross sales. This restaurant is well known for its great food and wonderful service, they have great pizza and fantastic entrees, sandwiches and wraps! This pizzeria restaurant routinely has seven 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 $13,000. The business transaction has an assignable commercial lease which expires 2031-01-01, plus additional options available, with a monthly rent of $5,100 all in, cost per square foot is estimated at $21.10 and rent security of approximately $9,000. The business fixed assets has an estimated value of approximately $165,000 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 9:00 pm. The business has been valued / priced at $250,000 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. The company routinely has approximately $2,500 of marketable inventory and the purchaser will be responsible for that cost at time of closing, based on wholesale value. 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, limited catering service and if improved can further develop the business yearly gross sales.


Financing/Terms:


Is available to a qualified buyer with an appropriate down payment\.