TAPAS RESTAURANT & WINE LICENSE. REST803

Price: $225,000

Location: Bergen County, New Jersey

Industry: Restaurant

Listing ID: REST803

Popular Tapas style restaurant with wine license, located in wonderful affluent city in Northern New Jersey, and in the County of Bergen. This successful restaurant has a wonderful reputation, strives to create an atmosphere full of vitality and fun. A substantial percentage of their sales represents delivery and pick up. They deliver a special atmosphere for their customers to feel warm and welcome as they choose from their eclectic menu that highlights their global culinary influences. The staff’s greatest objective is to nourish their community and guests. This is a wonderful / dependable business opportunity, the owner does not function in the kitchen.

 

Listing Details

Revenue: $676,824

Cash Flow: $99,999

FFE: $90,000 (Included in Price)

Inventory: $1,500 (Included in Price)

Reason For Sale:

Sale Purpose,The owner has elected to retire after many years in this industry

Training & Support:

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

Operation

Year Established: 1975

Days & Hours of Operation: The business is active six days per week, with hours from 4:00 pm to 9:00 pm.

Employees: The restaurant has five employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $13,800.

Location

Security on Lease: Two months

Lease Option: Yes additional options.

Monthly Rent: 4,400

Type of Location: Commercial Avenue

Square Footage: 1,330

Relocatable?: Yes

Facilities Information:

This is a quant and attractive restaurant which consist of 1,330 square feet with a modern appearance and located on an active commercial avenue in upper Bergen County New Jersey. The general area consists of many affluent communities with various active and successful businesses.

Summary

Owner Qualifications:

This industry does not require government agency approval to purchase other than the                         existing municipal licenses.

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 to the purchaser.

Potential Growth:

The restaurant business has a semi absentee owner, has a limited marketing plan, poor web site and if improved can further develop the business income.

 

Ron Cervelli

contactus@regalconsultants.com

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