Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Irish Pub Restaurant
(Food & Beverage , Restaurants)
Warren County , NJ
Listed Price: $ 495,000
Listing ID: REST676

Listing DetailsGross Revenue: $ 1,725,000
Cash Flow: $ 175,000
FFE: $ 390,000 (Included in Price)
Reason for Sale:

The owner is absentee out of the immediate area.


Training & Support:

The owner will remain post-closing in order to supply an appropriate transitional period to the new operator.


OperationsYear Established: 2013
Non-owner Payroll: $ 29,400
Employees: 31
Absentee Owner: No
LocationLease Expire: 0000-00-00
Monthly Rent: $ 14,000
Square Footage: 7500
Facilities:


This popular restaurant pub located in Morris County, New Jersey, has existed for many years and has been upgraded during the past few years to a modern exciting retail Irish pub restaurant. The facility which consist of multiple floors, a total of 7,500 square feet has an attractive Irish flair with a modern professional appearance. The business consists of a free-standing structure on an active commercial avenue with many other active and successful businesses. The general area consists of various highly populated communities located in Northern New Jersey with continued demand for this particular food service.


SummaryBusiness Description:

Authentic traditional Irish Pub Restaurant, complete with a wonderful warm, hospitality you’d expect from a successful local business operation. The business has a substantial gross income and a consistent net yearly income to the onsite owner operator. This highly popular pub restaurant also functions as a respected sports bar, has dozens of large screen TV’s to enjoy sports events and they are also the place that routinely features events and live music. The company offers both on and off premise catering parties including events for a birthday, anniversary, work gathering or whatever is required. This highly successful opportunity is located in a wonderful area of Morris County, New Jersey. The business gross sales represent approximately 50% liquor, 50% food with a substantial markup/return to the owner operator. The bar offers a large variety of draft beers from Ireland, Belgium, England and American craft breweries. A popular wine list has something for all palates and an extensive Scotch & Irish Whisky list provides a perfect ending for their customers. The restaurant also has an additional large banquet hall, currently not in use and has the capacity for an additional 150 patrons. The seller will supply a new 10 Year Lease, plus options at a monthly rent of $14,000 triple net. This business has thirty-one full and part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll represent is approximately $29,400. The sale has been valued at $495,000 based on a multiple of the net yearly income, the use of the liquor license and specific business assets. Also, seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, credit rating and collateral. This is a dependable business opportunity. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this particular business.


Competition:


To the best of our knowledge due to the limited liquor licenses, no new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.


Potential Growth:

The business can be further developed with an onsite owner operator, an improved marketing plan and optimized web site.


Financing/Terms:


Available to qualified buyers.