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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Bar & Grill Restaurant
(Food & Beverage, Restaurants)
Morris County , NJ
Listed Price: $ 495,000
Listing ID: REST659

Listing DetailsGross Revenue: $ 858,685
Cash Flow: $ 120,000
FFE: $ 450,000 (Included in Price)
Reason for Sale:

Sale is due to partner separation.


Training & Support:

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


OperationsYear Established: 2008
Days & Hours of Operation: Mon.-Sun. 11am-2am
Non-owner Payroll: $ 20,000
Employees: 15
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 19000
Monthly Rent: $ 11,500
Square Footage: 5800
Facilities:

This highly popular successful restaurant facility which consist of 5,800 square feet has recently been upgraded with a modern appearance. With a refreshed interior & new menu choice. The business location consists of a free-standing building on a four-lane highway with a large variety of active and successful businesses which attract many shoppers. This opportunity is in Northern New Jersey, Morris County, which consists of tens of thousands of residents and highly populated communities with continued demand for this industry.


SummaryBusiness Description:

Wonderful business opportunity for this highly successful bar and grill which specializes in Craft Beers founded in 2008 with the idea of creating the worlds best tasting burger paired with a great selection of cold craft beers. The restaurant has a 2017 gross income of $858,685 and a consistent net yearly income to the owner operator. They have plenty of space inside and outside to relax on their patio or at their bar-style seating. Their vast selection of beer and wine is carefully picked to complement every delicious style of burger on the menu. What makes this an exceptional popular restaurant, far different from the other burger concepts available is the offering of a gourmet full-service concept in an energetic, attractive atmosphere with a full bar including over 65 beers. This restaurant pub is known for its rock and roll vibe and is a destination favorite to it many customers who experience a popular happy hour crowd as well as the late-night fun; or just a place to go and enjoy a burger for lunch or dinner in a sports-themed environment. Their signature burgers offer unique sauces and toppings that make a special dining experience. The business has always been known for their live shows, events, and draft beer options on tap. Regarding employees and payroll, this restaurant consists of 15 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 08/11/2025, plus additional options available, with a monthly rent of $11,500, with 2% yearly increases, cost per square foot is estimated at $23.79 and rent security of approximately $19,000. This successful pub restaurant business operation is active seven days per week, with hours from 11:00 am to 2:00 am. The business has been valued / priced at $495,000 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 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, specifically limited liquor licenses, no other new competitors are expected near to this business. Additionally, the owners have agreed to supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

This pub restaurant business can be further expanded by an onsite owner operator, an increase in local advertising and additional live music which can further develop the business yearly gross sales.


Financing/Terms:


Approved to a qualified buyer.