Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Italian Deli & Caterer
(Food & Beverage , Coffee, Deli, Luncheonette)
Union County , NJ
Listed Price: $ 275,000
Listing ID: DELI277

Listing DetailsGross Revenue: $ 629,318
Cash Flow: $ 128,665
FFE: $ 160,000 (Included in Price)
Reason for Sale:

The owner is relocating out of the general area.


Training & Support:

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


OperationsYear Established: 1999
Non-owner Payroll: $ 3,300
Employees: 6
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 7200
Monthly Rent: $ 4,800
Square Footage: 5800
Facilities:


This deli business opportunity is in Northern New Jersey, Union County, consists of various highly populated communities with continued demand for this industry and service. This successful retail facility which consist of approximately 5,800 square feet has a modern and attractive image. The business consists of a free-standing structure in an active commercial area with various other successful businesses.


SummaryBusiness Description:
Wonderful deli/restaurant & caterer, with a huge 2,500 square foot commercial kitchen, gross income of $629,318 and a substantial net yearly income to the owner operator. This highly successful Italian style deli consists of a free-standing building with substantial growth potential. They have a popular menu for all customers and the business can be further developed by concentrating on increasing the existing off premise catering. The business income consists of no breakfast, 20% catering, 1% delivery. This deli has been serving their customer base with the same excellent quality that everyone expects, from basic delicatessen foods to their wonderful catered cuisine. All of their foods are prepared internally using the finest & freshest ingredients and their customers are assured the same freshness, and quality go into their products. Their menu offers a variety of favorite specialties, and, their friendly staff is available to provide personal assistance while planning a catering event. It is their goal to see that every customer is fully satisfied, no sale is ever complete until the meal is eaten and enjoyed. This deli consists of 3 full time & 3 part time employees who are unaware of the pending sale. The payroll is specifically based on an hourly basis, or a weekly base salary, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $3,300. The business transaction will offer an assignable commercial lease which expires 04/30/2020, plus additional options available, with a monthly rent of $4,800, cost per square foot is estimated at $10 and rent security of approximately $7,200. The business has been valued / priced at $275,000 which is based on the seller’s representation of a multiple of the net yearly income which also includes the value of the specific business assets. Also, possible seller financing may be available to a qualified buyer with an appropriate down payment, collateral and credit rating. 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:


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 opportunity can be further expanded by the new operator by developing the off-premise catering service. This business operation must further improve the existing marketing system 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.