Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Bar, Grill & Restaurant
(Food & Beverage , Bars, Taverns, and Night Clubs)
Morris County , NJ
Listed Price: $ 199,900
Listing ID: BAR747

Listing DetailsGross Revenue: $ 225,000
FFE: $ 215,000 (Included in Price)
Reason for Sale:

Sale is due to the seller’s partnership separation.


Training & Support:

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


OperationsEmployees: 4
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 7500
Monthly Rent: $ 5,389
Square Footage: 1950
Facilities:


This business opportunity represents a successful bar/restaurant in an active commercial mall with many other businesses and daily shoppers. This retail facility which consist of approximately 1,950 square feet have a modern attractive appearance. The business is in a mid-size commercial mall and this opportunity is in Northern New Jersey, Morris County, which consists of various highly populated communities with continued demand for this particular service. This business has been fully upgraded which includes a new kitchen, heating and air conditioning unit.


SummaryBusiness Description:

Solid opportunity to own this attractive profitable bar/restaurant in Northern New Jersey, Morris County. The business continues to supply a consistent income to the owner operator and can be further improved with a marketing plan. This restaurant consists of four full/part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff, cook and numerous bar persons, is fully expected to remain post-closing, and the monthly payroll expense is approximately $6,150. The business transaction has an assignable commercial lease which expires 2025, plus additional options available, with a Net monthly rent of $5,388.87 all in, cost per square foot is estimated at $22.67 and rent security of approximately $7,500. The business has been valued / priced at $199,900 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Also, seller financing may be available 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:


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:

The business opportunity can be further expanded by the new operator by improving the existing marketing plan 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:


Available to a qualified buyer.