Price: $298,999
Location: Morris County, New Jersey
Industry: Adult Club
Listing ID: CSTR104
Owners are retiring for this profitable located in Morris County, New Jersey and on an active New Jersey state highway. This business has a consistent income of $591,000 and a verifiable and consistent net yearly income. The business also has approximately $1,300,000 of Lotto and ATM sales along with hundreds of products routinely offered in this food service industry. The sale will include a long-term lease with additional options for extensions. The owners are retiring after many years in this industry, will consider financing the transaction and will also train a new operator. Based on the asking price, and yearly net income, this business expects to supply a consistent return on investment to the owner operator prior to debt service based with onsite ownership. This is a dependable safe business opportunity. The 2022 yearly gross income as represented by the owner is $590,000 and the business has a yearly net income of approximately $75,739 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. The business has been priced at $299,900, which is based on a multiple of the average net yearly income, with consideration to the particular business assets. Also, Seller & SBA bank financing is available for this transaction and possible seller financing may be available to a qualified buyer with an appropriate down payment, collateral, and credit rating.
Listing Details
Revenue: $591,000
Cash Flow: $75,738
FFE: $125,000 (Included in Price)
Inventory: $70,000
Reason For Sale:
The purpose of this business transaction is due to the owner’s absenteeism after many years in this particular industry.
Training & Support:
Training and owner support, the owner is prepared to remain post-closing and will supply an appropriate transitional period to purchaser.
Operation
Year Established: 2000
Days & Hours of Operation: Days Hours of operation; this business is active seven days per week, with hours from 6:30 am to 9:00 pm.
Owner Hours Per Week: absentee
Employees: Regarding employees and payroll, this retail company consists of one employee who is unaware of the pending sale. The payroll is primarily based on an hourly basis, and the staff is fully expected to remain post-closing, monthly payroll expense is modest.
Absentee Owner?: Yes
Location
Security on Lease: Two Months
Lease Option: Yes, Available
Type of Location: Commercial active highway
Square Footage: 2000
Relocatable?: Yes
Facilities Information:
The business is located in Morris County, New Jersey, on an active highway with a high volume of drive-by traffic. The general area consists of various communities with continued need for this food service. The facility consists of a modern fully equipped retail C-Store, 2,000 square feet. The business is designed for quick effective service with separate areas for its various products. This business is located in an active commercial mall with various other companies including Dunkin Donuts and food market, etc.
Summary
Historical Summary:
Twenty year old C Store and deli.
Owner Qualifications:
No specific qualifications required.
