Price: $274,999
Location: Morris County, New Jersey
Industry: Bar
Listing ID: BAR860
Wonderful business opportunity to own this attractive profitable bar/restaurant in Northern New Jersey, Morris County with owner financing. This operation has been fully remolded with a full kitchen, modern bar, various accessories, and restrooms. The bar seats twenty customers with additional private seating and a capacity for eighty-five plus. The operation has package goods approval which represents a percentage of the gross sales. The business continues to supply a consistent income to the owner operator and can be further developed with an improved marketing plan. This is a dependable safe business opportunity. For Qualifications purposes, this business opportunity industry requires New Jersey State government licensing approval to purchase in addition to the standard required municipal licenses. The business fixed assets have an estimated value of approximately $225,000 which is based on the cost of the original equipment, licensing, buildout replacement cost, tangible & nontangible, in addition to the multiple of the existing net yearly income. The sale consists of a fully equipped Pub Restaurant which includes a commercial kitchen, refrigeration & freezer units, consumption liquor license, web site, social media components, POS system, displays, shelving, tables, computers, fire suppression system including all the necessary equipment to maintain the day-to-day business operation and a list of assets will be supplied to purchaser upon request.
Listing Details
Revenue: $393,961
Cash Flow: $77,974
FFE: $212,000 (Included in Price)
Inventory: $1,000 (Included in Price)
Lender Pre-Qualified?: Yes
Terms and Conditions?:
This is a one-year-old full-service Restaurant & Lounge.
Reason For Sale:
The purpose of this business transaction is due to the owner’s employment obligation out of this particular industry.
Training & Support:
If requested the owner will remain after-closing and is prepared to supply an appropriate transitional period to the new owner / operator.
Operation
Year Established: 2018
Days & Hours of Operation: This Tavern operation is active six days per week, closed Monday, hours are from 11:00 am to 9:30 and 11:00 pm on weekends.
Owner Hours Per Week: This Tavern operation is active six days per week, closed Monday, hours are from 11:00 am to 9:30 and 11:00 pm on weekends.
Employees: This restaurant consists of three employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the numerous bar persons, is fully expected to remain post-closing, and the monthly payroll expense is approximately $3,000.
Location
Security on Lease: Two Months
Lease Option: Yes, Available
Monthly Rent: $6,000
Type of Location: Commercial Avenue
Square Footage: 1,959
Relocatable?: Yes
Facilities Information:
This business opportunity represents a successful bar/restaurant in an active commercial mall with many other businesses and daily shoppers. This retail facility which consists 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 modern kitchen, heating, updated bar, and air conditioning unit.
Summary
Historical Summary:
Long standing bar restaurant.
Owner Qualifications:
For Qualifications purposes, this business opportunity industry requires New Jersey State government licensing approval to purchase in addition to the standard required municipal licenses.
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, later hours, 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.
