Price: $349,999
Location: Hudson County, New Jersey
Industry: Delicatessen
Listing ID: DELI139
Successful thirty-year-old high-volume Deli and catering business located in the Jersey City-Bayonne, New Jersey in a highly populated area of Hudson County. The business has a gross yearly income of $ 1,575,000 and a consistent net yearly income of $211,376 based on an onsite owner. This is a highly profitable, well-known retail business with a wonderful reputation which can be further developed with a motivated owner operator. This deli has an excellent menu and services a substantial population of this active community. This operation maintains a very profitable catering and delivery service and has the ability to expand with an improved marketing system. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a continued return on investment to the owner operator prior to debt service. The 2022 yearly gross income as represented by the owner is estimated at $1,522,000 and the business has a yearly net income of approximately $211,376 based on an onsite owner operator which includes any seller discretionary income and prior to any debt service. The 2023 income is $1,592,700 with a further increase in the net yearly income. A formal due diligence is recommended by broker.
Listing Details
Revenue: $1,575,000
Cash Flow: $211,376
FFE: $120,000 (Included in Price)
Inventory: $2,000 (Included in Price)
Form of Ownership:
LLC
Reason For Sale:
The purpose of this business transaction is due to the owner’s retirement after many years of success in this particular food industry.
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: 1985
Days & Hours of Operation: Days Hours of operation; this business is active seven days per week, with hours from 8:00 am to 8:00 pm.
Owner Hours Per Week: Full Time
Non-Owner Payroll: $350,000
Employees: Regarding employees and payroll, this retail company consists of nine employees who are unaware of the pending sale. The payroll is primarily based on a weekly base salary, and the staff is fully expected to remain post-closing, the monthly payroll expense is approximately $30,000 representing full and part time employees.
Location
Security on Lease: Two Months
Lease Option: Option Available.
Monthly Rent: 4,000
Type of Location: Commercial Avenue
Square Footage: 2,200
Relocatable?: Yes
Facilities Information:
This business opportunity is in northern New Jersey, Hudson County on a highly active county road with thousands of drives by vehicles. This business facility consists of approximately 2,200 square feet with an attractive professional appearance conveniently located on an active commercial avenue. The company has a highly visible excellent corner location on a busy avenue.
Summary
Historical Summary:
This is a thirty-year-old full-service deli & cafe.
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 and approvals.
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 retail company can be further developed by improving the marketing and local advertising to further develop catering and delivery. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business yearly gross sales.
Financing/Terms:
Also, seller and SBA bank financing is available for this transaction to a qualified buyer with an appropriate down payment, collateral, and credit rating.
