Price: $1,475,000
Location: Bergen County, New Jersey
Industry: Restaurant
Listing ID: PZZA806
Owner retiring after twenty-five years of ownership for this highly successful casual Italian restaurant pizzeria with a yearly gross income of $2,386,126 and a verifiable net income of $572,237. This transaction also offers bank and owner financing with a long term an assumable mortgage. This well-known eatery has an indoor seating capacity for seventy customers and an outdoor patio for fifty. The business is located in Northern New Jersey serving numerous affluent communities with continued demand for this service. This is a dependable safe business opportunity and based on the many years of consistent gross sales this business expects to continue to supply a consistent return on investment to the owner operator.
Listing Details
Revenue: $2,386,126
Cash Flow: $572,237
FFE: $250,000 (Included in Price)
Inventory: $3,000 (Included in Price)
Reason For Sale:
The purpose of this business transaction is due to the owner retirement after many years of success at this location and in this particular 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 six days per week, closed Monday, with hours from 11:00 am to 9:00 pm. Closed two weeks for summer vacation
Owner Hours Per Week: absentee
Employees: Regarding employees and payroll; this retail company consist of twenty employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis and weekly base salary, and the staff is fully expected to remain post-closing, monthly payroll expense is approximately $49,000.
Location
Security on Lease: Two Months
Lease Option: Yes, Available
Monthly Rent: 8,345
Type of Location: Commercial Avenue
Square Footage: 2,800
Relocatable?: Yes
Facilities Information:
This business opportunity is in northern New Jersey, Bergen County on a highly active commercial avenue with various retail companies.
This business facility consists of approximately 2,800 square feet with an attractive and clean appearance. The business is in a free-standing retail facility conveniently location for its various customers. The business has a wonderful outdoor patio for fifty.
Summary
Owner Qualifications:
For Qualifications purposes; this business opportunity does not require state 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 operation can be further developed by increasing days of operation, improving the marketing system and local advertising. Additionally, the company has no web site and if adjusted can further develop the delivery service improving the yearly gross sales.
Financing/Terms:
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.