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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Craft House Restaurant
(Food & Beverage , Bars, Taverns, and Night Clubs)
Hunterdon County , NJ
Listed Price: $ 450,000
Listing ID: BAR730

Listing DetailsGross Revenue: $ 650,000
FFE: $ 450,000 (Included in Price)
Inventory: $ 7,500
Reason for Sale:

The sale is due to the owner being absentee.


Training & Support:

Training and owner support, the owner is absentee, however he is available to supply an appropriate transitional period to the new owner / operator.


OperationsYear Established: 2007
Days & Hours of Operation: Mon.-Sun.
Employees: 12
Absentee Owner: No
LocationLease Expire: 0000-00-00
Monthly Rent: $ 13,000
Square Footage: 2400
Facilities:

This opportunity is in North Western New Jersey, Hunterdon County, on Route 22, a state highway. The general area consists of various affluent populated communities with continued demand for this particular service. This restaurant facility consists of approximately 2,400 square feet with a full open bar, separate dining areas, and an outdoor seating area for an additional forty-eight customers. The facility has an indoor capacity for ninety-eight customers and has a modern attractive appearance. The business location consists of a free-standing structure with various other active and successful commercial businesses.


SummaryBusiness Description:
Modern Tavern Restaurant in Northern New Jersey and conveniently located on an active New Jersey State Highway. The restaurant has a wonderful reputation and supplies a great dining experience to its many patrons. The sale includes a valuable consumption liquor license and live entertainment approval. This Restaurant Craft House is a casual dining restaurant that offers over 35 beers on tap and a wide range of seafood, chicken, steak and fresh seasonal crab. Their beers on tap are hand selected and their premium spirit offers you the best available. The meals are prepared using the highest quality ingredients available. They always use local produce and seafood whenever available and all-natural domestic meats that are hormone and antibiotic free and they are always upgrading their menus. Also, they provide a broad variety of American cuisine from sandwiches, craft house burgers, and entrees such as pasta, steaks, and seafood options. Regarding employees and payroll, this successful restaurant consists of twelve 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 25% of gross sales. The business transaction will offer a new fifteen-year commercial lease which expires 2035-01-01, plus additional options available, with a monthly rent of $13,000 triple net, cost per square foot is estimated at $44.00 and rent security will be required. The owner will consider a separate option to purchase the property specifically through its realty agency. This successful Tavern & Restaurant is active seven days per week, with hours from 11AM -10PM Sunday to Thursday, and 11AM-11PM on Friday and Saturday. The business has been valued / priced at $450,000 which is based on the value of the liquor license, new lease and assets. Also, possible seller financing may be available to a qualified buyer with an appropriate down payment, collateral and credit rating. The seller will consider a separate sale of the property which consist of various rentals, specifically through his real estate agency. 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 the limited liquor licenses, 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:

Regarding growth and expansion, the business opportunity can be further expanded by an onsite owner operator. The business can be further developed by improving the marketing and the required local advertising. Additionally, the company has a limited poor non-optimized web site and if adjusted can further develop the business yearly gross sales.


Financing/Terms:

Seller financing is available to a qualified buyer