Price: $259,900
Location: Somerset, New Jersey
Industry: Delicatessen
Listing ID: deli348
Deli Lotto at the Municipal building for this long standing Fast-food Deli & luncheonette business with a 2023 gross yearly income of $350,000 which includes discretionary income and a net yearly income of $90,400. Priced to sell for this highly profitable forty-year retail food business with owner financing in a wonderful area of Somerset County New Jersey. This combination deli, mart and Lotto is located in Northern New Jersey on an active county road. The business sales represent breakfast lunch, 75% sandwich and salad products which represent a substantial markup to the bottom-line yearly income. This is a dependable business opportunity which can be substantially improved with additional products.
Listing Details
Form of Ownership:
C Corp
Operation
Year Established: 1970
Days & Hours of Operation: The business is active six days per week, with hours from 8:00 am to 5:45 pm.
Owner Hours Per Week: Full Time
Employees: This retail business has three employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $3,400.
Location
Security on Lease: Two Months
Lease Option: Yes Available
Monthly Rent: 2,200
Type of Location: Commercial
Square Footage: 1,550
Relocatable?: Yes
Facilities Information:
This long-standing successful retail business which offers deli, mart, lotto, and mart products is located on a busy avenue with lots of drive by vehicles. The business facility consists of approximately 1,550 square feet on a commercial avenue. The business is in a free-standing commercial facility located in Northern New Jersey, on an active county road and consists of various highly populated urban communities with continued demand for these food products. The facility has a dry allowing substantial storage.
Summary
Historical Summary:
This is a forty year old deli sandwich shop.
Owner Qualifications:
This food industry does not require state government approval to purchase other than the Lotto license.
Competition:
To the best of our knowledge no other new competitors are expected near to this business, and the owner has agreed to supply a non-compete agreement to the purchaser.
Potential Growth:
The business presently has a limited marketing plan, no website, limited hours, and requires product improvement which can substantially improve the business’ gross sales.
Financing/Terms:
Seller financing available with an appropriate down payment.
