Price: $175,000
Location: Bergen County, New Jersey
Industry: Restaurant
Listing ID: rest837
Priced to sell for this wonderful business opportunity for this locally operated BYOB restaurant serving traditional Italian cuisine with a casual vibe. The business opportunity has a substantial gross income and a consistent net yearly income to the owner operator. Wonderful investment with a solid return on investment and priced for a quick sale with substantial owner financing. Their objective is to provide first class service and fresh high-quality cuisine with an Italian flair to the customers they service. Their menu features an extensive selection with a variety of fresh innovative entrees, and homemade desserts. This is a profitable safe business opportunity and based on the moderate asking price, and yearly net income, this business expects to supply a consistent return on investment to the owner operator. The most recent twelve-month gross sales are $771,366 plus discretionary income and the net income is estimated at a minimum of $110,000 based on an onsite owner operator which includes any seller discretionary income and prior to any debt service. The 2023 income is expected to be greater than the previous year and formal due diligence is recommended by broker.
Listing Details
Revenue: $771,365
Cash Flow: $110,000
FFE: $85,000 (Included in Price)
Inventory: $3,000 (Included in Price)
Reason For Sale:
The purpose of this business transaction is due to the owner alternative noncompetitive business not in the immediate area.
Training & Support:
Training and owner support, the owner is fully prepared to remain post-closing and will supply an appropriate transitional period to purchaser.
Operation
Year Established: 2019
Days & Hours of Operation: Days Hours of operation; this business is active six days per week, closed Monday with hours from 12:00 am to 9:00 pm.
Owner Hours Per Week: Full Time
Employees: Regarding employees and payroll; this retail company consist of ten employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, and the staff is fully expected to remain post-closing, the monthly payroll expense is approximately $14,000.
Location
Security on Lease: Two Months
Lease Option: Yes, Available
Monthly Rent: 3,700
Type of Location: Commercial Avenue
Square Footage: 1,650
Facilities Information:
This business opportunity is in northern New Jersey, Bergen County on a convenient active county road. This business facility consists of approximately 1,650 square feet with an attractive, old-world appearance. The business is located on a commercial avenue with numerous other retail businesses.
Summary
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 restaurant can be further developed with a delivery service, catering and in house private parties. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business and yearly gross sales.
Financing/Terms:
Also, seller financing is available to a qualified buyer with an appropriate down payment, collateral, and credit rating.
