OFF PREMISE CATERER NETS $650,000. CATR168

Price: $1,225,000

Location: Middlesex County, New Jersey

Industry: Distribution

Listing ID: CATR168

Off Premise catering company, with no retail services, 100% of its products are delivered to it many customers. Owner is now retiring after many years of success, servicing central New Jersey residents for all of their catering and social needs. The company has a 2022 yearly gross income of $2,248,683.56 and a net yearly income of $699,361.13 which can be evidenced by a formal due diligence. It is estimated, seventy percent of their yearly gross income is based on repetitive corporate accounts which include various New Jersey state Universities, colleges, and government agencies. This company is highly rated for their outstanding off premise services such as Wedding Catering, Bar Mitzvahs, Bat Mitzvahs, Corporate Events, and many other special catering events. This is a highly respected catering company with generations of good will to their many customers and been rated as one of the largest most successful catering companies in the state of New Jersey. This is a dependable safe business opportunity and based on the asking price, available financing and yearly net income, this business expects to supply a consistent return on investment to the owner operator. The business has been priced at $1,225,000 which is based on a multiple of the average net yearly income, with consideration to the particular business assets. Also, SBA bank and seller financing is available for this transaction and to a qualified buyer with an appropriate down payment, collateral, and credit rating.

Listing Details

Revenue: $2

Cash Flow: $699,362

FFE: $738,000 (Included in Price)

Inventory: $10,000 (Included in Price)

Real Estate:$650,000

Reason For Sale:

The purpose of this business transaction is due to the owner retirement after many years of success in the catering 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 five days per week, with hours from 8:00 am to 4:00 pm.

Owner Hours Per Week: Full Time

Employees: Regarding employees and payroll; this food service company consist of twelve 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 average monthly payroll expense is approximately $56,000. Whether the service is a wedding reception, anniversary party, birthday party, sweet sixteen or a corporate event, the professional staff continues to be available to assist and guide their clients through the menu and planning process. The professional staff provides guests with exceptional food and service, from inception to completion for all social events.

Location

Security on Lease: Two Months

Lease Option: Option Available.

Monthly Rent: 5,000

Type of Location: Commercial Avenue

Square Footage: 2,400

Relocatable?: Yes

Facilities Information:

This business opportunity is in north central New Jersey, Middlesex / Somerset / Mercer Counties on a highly active county road conveniently located for quality service and delivery. This business facility is approximately 2,400 square feet consisting of a commercial kitchen, store, and office with a professional appearance. The business is in a free-standing retail facility conveniently located for its various customers. The facility is designed for high volume food production consisting of a fully equipped commercial kitchen.

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 related to the food service industry.

 

Competition:

Regarding competition, based on the style of industry, to the best of our knowledge, no other new competitors are expected to affect this company. 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 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 and seller financing is available for this transaction and to a qualified buyer with an appropriate down payment, collateral, and credit rating.

Ron Cervelli

contactus@regalconsultants.com

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