Price: $795,000
Location: Bergen County, New Jersey
Industry: Restaurant
Listing ID: REST811
Most unusual business opportunity for this ultra-modern Italian restaurant in an affluent area of Northern New Jersey, Bergen County with an estimated 2023 gross yearly income of $2,000,000 and evidencing a net income of $300,000 to the owner operator. This restaurant purchase will offer owner financing to a qualified buyer. They are a family-owned and operated BYO liquor and offers a full menu of Italian specialties. Their objective and company goal is to provide first class hospitality while celebrating Italy’s vibrant culinary cuisine. They encourage an atmosphere where customers can meet for the best possible foods and enjoy the atmosphere. This is a dependable safe business opportunity and based on the asking price, required down payment for owner financing, and yearly net income, this business expects to supply a consistent return on investment to the owner operator.
The 2023 yearly gross income as represented by the owner is estimated at $2,000,000 and the business has a yearly net income of approximately $300,000 based on an onsite owner operator which includes any seller discretionary income and prior to any debt service. A formal due diligence is recommended buy broker.
Listing Details
Revenue: $2
Cash Flow: $300,000
FFE: $145,000 (Included in Price)
Inventory: $3,000 (Included in Price)
Reason For Sale:
The purpose of this business transaction is due to the owner noncompetitive alternative business which he is required to maintain.
Training & Support:
Training and owner support, the owner is fully prepared to remain post-closing and will supply an appropriate transitional period to purchaser without charge.
Operation
Year Established: 2022
Days & Hours of Operation: Days Hours of operation; this business is active six days per week, closed Monday, with hours from 11:30 am to 9:00 pm.
Owner Hours Per Week: Full Time
Non-Owner Payroll: $350,000
Employees: Regarding employees and payroll; this restaurant company consist of twenty-one (21) full and part time 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.
Location
Security on Lease: Two Months
Lease Option: Yes additional options.
Type of Location: 7,500
Square Footage: 3,710
Relocatable?: Yes
Facilities Information:
This business opportunity is in northern New Jersey, Bergen County conveniently located on a county road. This business facility consists of approximately 3,712 square feet with a modern, attractive, appearance with a seating capacity for one hundred (100) one hundred customers and parking for forty-five vehicles. The restaurant has outdoor seating for additional 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 already in place.
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 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, seller financing is available for this transaction to a qualified buyer with an appropriate down payment, collateral, and credit rating.