Price: $99,900
Location: Somerset County, New Jersey
Industry: Fast Food
Listing ID: FF448
Excellent business opportunity for this wonderful modern fast-food franchise which offers a delicious menu of Southwest Mexican favorites with a substantial market up to the bottom line. The owner is absentee, and this retail business has a full staff of experienced employees. The business has a newer POS system that registers and identifies the gross sales including other details of sale. The business has no local advertising, no catering or delivery service. This restaurant opened in 2014 and expects to have a further increase in gross sales during 2023. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. The 2022 yearly gross income as represented by the owner is estimated at $478,127 and the business has a yearly net income of approximately $63,948 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 improved with the post pandemic. A formal due diligence is recommended buy broker. The business has been priced at $150,000 which is based on a multiple of the average net yearly income, with consideration to the particular business assets. Also, seller and SBA bank financing is available for this transaction to a qualified buyer with an appropriate down payment, collateral, and credit rating.
Listing Details
Revenue: $478,127
Cash Flow: $63,948
FFE: $120,000 (Included in Price)
Inventory: $1,500 (Included in Price)
Franchise?: Yes
Franchise Information:
National Franchise
Reason For Sale:
The purpose of this business transaction is due to the owner semi absenteeism.
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: 2014
Days & Hours of Operation: Days Hours of operation; this business is active seven days per week, with hours from 11:00 am to 9:00 pm.
Owner Hours Per Week: absentee
Employees: Regarding employees and payroll; this retail food company consist of eight full and part time 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 $11,000. The manager is paid $2,500 per month.
Absentee Owner?: Yes
Location
Security on Lease: Two Months
Lease Option: Yes, Available
Monthly Rent: 7,495
Type of Location: Active commercial Mall
Square Footage: 2,300
Relocatable?: Yes
Facilities Information:
This business opportunity is in norther New Jersey, Somerset County near to various highways convenient to its many customers. This retail franchise business is located in an active commercial mall. The facility consists of approximately 2,963 square feet with a modern, attractive, and clean appearance.
Summary
Historical Summary:
Training and owner support, the owner is fully prepared to remain post-closing and will supply an appropriate transitional period to purchaser.
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 company can be further developed by 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 and SBA bank financing is available for this transaction to a qualified buyer with an appropriate down payment, collateral, and credit rating.
