Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Pancake Restaurant
(Food & Beverage , Restaurants)
Essex County , NJ
Listed Price: $ 250,000
Listing ID: REST677

Listing DetailsGross Revenue: $ 440,700
Cash Flow: $ 117,000
Reason for Sale:

The owner retiring after many years in this food industry.


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
Non-owner Payroll: $ 7,500
Employees: 11
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 70000
Monthly Rent: $ 4,745
Square Footage: 1820
Facilities:

This successful retail facility consists of two floors, approximately 1,820 square feet has a modern and attractive image. The business is on an active commercial avenue with dozens of other active and successful retail businesses and professional practices. This opportunity is in Northern New Jersey, Essex County, which consists of various highly populated communities with continued demand for this food and industry.


SummaryBusiness Description:

Solid business opportunity for this long standing and profitable pancake, breakfast and lunch restaurant in an urban city of Essex County, New Jersey. The business has a gross income of $305,478 and a consistent net yearly income of $117,000 based on an onsite owner operator. With many years of restaurant experience, they offer fresh, innovative food served consistently by a dedicated team in a clean and warm environment. They use only the finest and freshest ingredients available and it’s their attention to detail that makes all the difference such as taking the extra effort to serve only fresh-squeezed juices ensuring only the flavorful drink. Whenever possible, they seek out organically grown ingredients from local farmers and producers. These efforts result in a better experience for their customers. This restaurant consists of 5 full time & 6 part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, and a weekly base salary, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $7,500. The business transaction will offer an assignable commercial lease which expires 12/31/2023, plus additional options available, with a monthly rent of $4,745, cost per square foot is estimated at $31.28 and rent security of approximately $7,000. The business has been valued / priced at $250,000 which is based on the seller’s representation of a multiple of the net yearly income which includes the value of the specific business assets. 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 improving the existing marketing plan and the required local advertising and increasing the hours opened to the public. Additionally, the company has a limited poor non-optimized web site and if adjusted can further develop the business yearly gross sales.


Financing/Terms:

N/A