RESTAURANT TAVERN LIVE ENTERTAINMENT. rest808

Location: Bergen County, New Jersey

Industry: Restaurant

Listing ID: rest808

Well-known restaurant located in Northern New Jersey in the County of Bergen, conveniently near various state highways. This multi acre site with a 7,000-square foot restaurant lounge has an average gross yearly income of $2,900,000 and a substantial net income to the owner operator. One of New Jersey’s most successful restaurant taverns and has welcomed guests to enjoy its contemporary American cuisine, warm hospitality, and unparalleled service for over five decades. For many years, this restaurant has been serving a wide variety of freshly prepared food, all made to order, and their menu features the freshest, most mouth-watering ingredients. The business is open for lunch, dinner, cocktails, Sunday Brunch, private parties and off-premises catering and the restaurant also hosts live music. They offer everything from pizzas to their signature burger, mouth-watering BBQ specialties, homemade desserts & soups, wraps, steaks, salads, sea foods and so much more. The restaurant consists of various attractive rooms, and they have a capacity for private parties including a huge bar area with entertainment approval. The restaurant has seating capacity for 275 customers and is available for any type of event including buffets, or sit-down meals. The restaurant also offers catering as an additional income. This is a dependable business opportunity.

 

Listing Details

Revenue: $2,900,000

Cash Flow: $503,000

FFE: $680,000

Inventory: $10,000

Lender Pre-Qualified?: Yes

Reason For Sale:

Purpose of this sale is due to the owner’s retirement after many successful years in this service industry.

Training & Support:

The owner will remain post-closing to supply an appropriate transitional period to the new operator.

Location

Square Footage: 7,000

Relocatable?: Yes

Facilities Information:

The business presently has a limited marketing plan, basic web site and if improved can further develop the business gross income.

Summary

Owner Qualifications:

This industry requires government agency approval to purchase due to the transfer of the New Jersey consumption liquor license.

Competition:

To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.

Potential Growth:

The business presently has a limited marketing plan, basic web site and if improved can further develop the business gross income.

 

Ron Cervelli

contactus@regalconsultants.com

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