CASUAL SEAFOOD RESTAURANT GROSS SALES $771,366. rest802

Price: $279,000

Location: Bergen County, New Jersey

Industry: Restaurant

Listing ID: rest802

This restaurant is a local casual operated BYOB, Seafood, Oyster Bar,  & Italian Kitchen with a substantial gross income and a consistent net yearly income. Wonderful investment with a solid return on investment and priced for a quick sale with owner financing. Their objective is to provide first class service and fresh high-quality coastal cuisine with an Italian flair to the customers they service. Their menu features an extensive raw bar selection with a variety of shellfish, fresh sushi rolls, 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.

Listing Details

Revenue: $771,365

Cash Flow: $110,000

FFE: $75,000 (Included in Price)

Inventory: $5,000 (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: 2018

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.

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.

 

Ron Cervelli

contactus@regalconsultants.com

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