Price: $250,000
Location: Union County, New Jersey
Industry: Fast Food
Listing ID: FF439
Wonderful business opportunity for this non franchise fast food business in a major commercial mall of Union County New Jersey. The owner is presently absentee with full-time employment and has elected to relocate out of state due to employment transfer. This simple fast-food operation had a 2022 gross income based on corporate tax returns of $572,806 and a net yearly income of $150,000 plus discretionary income to the owner operator. The company is open five days, closed Monday, and Tuesday. This simple Cheesesteak casual restaurant offers fresh & healthy American cuisine, customers can choose from a full selection of starters, salads, sandwiches, hamburgers and much more. They also offer a full menu of product for online service, either pick up or delivered. They are known for quality ingredients to ensure their customers get quality food and great service. This sale represents a dependable safe business opportunity and based on the price, down payment, and yearly net income; this transaction expects to supply a consistent return on investment to the owner operator. The 2023 income is expected to be similar to previous year with a minimal net income of $120,000.
Listing Details
Revenue: $572,805
Cash Flow: $119,999
FFE: $125,000 (Included in Price)
Inventory: $1,500 (Included in Price)
Reason For Sale:
The purpose of this business transaction is due to the owner relocation out of state due to his employment responsibilities.
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 five days per week, closed Monday & Tuesday, with hours from 11:00 am to 6:00 pm.
Owner Hours Per Week: absentee
Employees: Regarding employees and payroll; this fast-food restaurant consist of four 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 $8,300.
Absentee Owner?: Yes
Location
Security on Lease: Two Months
Lease Option: Yes, Available
Monthly Rent: 4,050
Type of Location: Active commercial Mall
Square Footage: 1,750
Relocatable?: Yes
Facilities Information:
This business opportunity is in north central New Jersey, Union County on US state Highway Route 22 and a highly active county road. This business facility consists of approximately 1,750 square feet with a modern, attractive, and professional appearance. The business is in a commercial mall with numerous other retail companies conveniently located for its various customers.
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 retail food company can be further developed by increasing the days of operation, improving the marketing and local advertising. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business yearly gross sales.
Financing/Terms:
Also, SBA bank financing is available for this transaction and seller financing may be available to a qualified buyer with an appropriate down payment, collateral, and credit rating.
