Price: $550,000
Location: Essex County, New Jersey
Industry: Pizza
Listing ID: PZZA804
Well maintained, high volume Pizzeria available to purchase with a future option to purchase the real estate located in an active urban area of Essex County, New Jersey. The price has been set very competitively based on fair market value with owner financing. The business is located on an active commercial avenue with continued demand for this popular food service. The dining room has been closed since the pandemic, the income represents strictly pick up / take out service resulting in a substantial investment return to the owner operator. The business has an average yearly gross income of $1,500,000 and a consistent net yearly income. Based on the asking price, and projected net yearly net income, this business expects to supply a consistent return on investment to the owner operator. The 2021 gross yearly income is $1,599,350 and a yearly net income of $275,000 based with an onsite owner operator and prior to any debt service. The 2022 gross income is $1,452,612 with a similar net yearly income.
Listing Details
Revenue: $1,599,350
Cash Flow: $275,000
FFE: $125,000 (Included in Price)
Inventory: $2,500 (Included in Price)
Reason For Sale:
Sale Purpose: The owner is retiring from this industry after many years of success in this food service industry.
Training & Support:
Training Support: The owner will remain post closing and supply an appropriate transitional
Operation
Year Established: 1999
Days & Hours of Operation: Days & Hours: The business operation is active seven days per week, with hours from 11:00 am to 9:30 PM.
Owner Hours Per Week: Full Time
Employees: This business has a full staff of employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll of approximately $18.000.
Location
Security on Lease: Two months
Lease Option: Yes, Available
Monthly Rent: $8,000
Type of Location: Active Commercial Businesses
Square Footage: 3,000
Relocatable?: Yes
Facilities Information:
The business facility consists of 3,000 square feet, seating capacity for 110 customers, in a commercial setting on an active commercial avenue. The general area is a highly populated urban area with thousands of residents who require this food service.
Summary
Owner Qualifications:
Qualifications: The industry does not require any government agency approval other than a food license.
Competition:
To the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement
Potential Growth:
The business has a limited marketing budget, poor web site, which can be improved to further develop the business gross income.
Financing/Terms:
seller financing has been approved to a qualified buyer with an appropriate down payment, collateral, and credit rating.