Price: $995,000
Location: Morris County, New Jersey
Industry: Restaurant
Listing ID: pzza811
Potential opportunity for EB-5 US Visa Investor
Solid opportunity for this most attractive pizzeria-restaurant with Owner retiring after many years in the industry and offer Owner Financing for this wonderful business opportunity. This is a modern attractive thirty-five-year-old fully remolded beautiful Italian Pizzeria with a consistent gross yearly income of $1,780,000 and a net yearly income of $502,796. The business has been nicely upgraded with an attractive image and designed for high volume production. This is a dependable, safe business opportunity, the price has been set based on fair market value and expects to supply a consistent return on investment to the owner operator.
Listing Details
Revenue: $1,780,000
Cash Flow: $501,999
FFE: $327,000 (Included in Price)
Inventory: $2,500 (Included in Price)
Reason For Sale:
The purpose of this business transaction is due to the owner retirement after many years of success in this food industry.
Training & Support:
Training and owner support, the owner is 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 SIX days per week, with hours from 11:00 am to 9:00 pm.
Owner Hours Per Week: Full Time
Non-Owner Payroll: $560,000
Employees: Regarding employees and payroll; this restaurant consist of twelve employees who are unaware of the pending sale. The payroll is primarily based on an hourly, and 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.
Monthly Rent: 8,050
Type of Location: Commercial Avenue
Square Footage: 2,500
Relocatable?: Yes
Facilities Information:
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.
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 restaurant can be further developed by improving the marketing and local advertising in order to expand the delivery service. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business 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.
