Price: $295,000
Location: Union, New Jersey
Industry: Fast Food
Listing ID: FF456
Well know, highly profitable Asian, Japanese, Ramen and Sushi casual restaurant located on an active commercial avenue of Union County, New Jersey. This is an over-the-counter quick service restaurant with high quality food products. The company has a gross income of $1,150,000 and a consistent net yearly income of approximately $175,000 based on an onsite owner operator. The company has a successful delivery service with all of the national delivery services apps. Quick service, quality food and fast delivery. 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. The 2022 yearly gross income as represented by the owner is estimated at $1,150,000 and the business has a yearly net income of approximately $185,000 based on an onsite owner operator which includes any seller discretionary income and prior to any debt service. The 2024 income is expected to be similar or greater to the previous year and formal due diligence is recommended by broker.
Listing Details
Form of Ownership:
C Corp
Operation
Year Established: 2016
Days & Hours of Operation: Days Hours of operation; this business is active seven days per week, with hours from 11:00 am to 9:00 pm.
Owner Hours Per Week: Full Time
Non-Owner Payroll: $23,000
Employees: Regarding employees and payroll, this retail company consists of twelve full & part-time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, and weekly base salary, and the staff is fully expected to remain post-closing, the monthly payroll expense is approximately $23,000.
Location
Security on Lease: Two Months
Lease Option: Yes Available
Monthly Rent: 8,088
Type of Location: Commercial
Square Footage: 1,750
Relocatable?: Yes
Facilities Information:
This business opportunity is in north central New Jersey, Union County on a highly active commercial avenue. This business facility has a seating capacity for thirty-five customers, consists of approximately 1,750 square feet with a modern, attractive, and professional appearance. The business is in a free-standing retail facility with a private entrance and conveniently located for its various customers.
Summary
Historical Summary:
Regarding employees and payroll, this retail company consists of twelve full & part-time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, and weekly base salary, and the staff is fully expected to remain post-closing, the monthly payroll expense is approximately $23,000.
Owner Qualifications:
For Qualifications purposes; this business opportunity does not require any specific government licensing approval to purchase or operate other than the standard required municipal licenses.
Competition:
Regarding competition, to the best of our knowledge, 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:
Regarding growth and expansion, the retail company can be further developed by increasing the number of days of operation, improving the marketing and local advertising. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business yearly gross sales.
Financing/Terms:
Also, seller financing is available for this transaction is available to a qualified buyer with an appropriate down payment, collateral, and credit rating.