Price: $239,900
Location: Bergen County, New Jersey
Industry: Restaurant
Listing ID: REST819
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. The yearly 2022 gross income is now projected at $765,419 and the business should evidence a yearly net income of $110,000 plus discretionary income.
Listing Details
Revenue: $765,419
Cash Flow: $100,000
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.
Owner Hours Per Week: Full Time
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: 4,500
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.
