Price: $299,000
Location: Sussex, New Jersey
Industry: Bar
Listing ID: BAR863
Solid business opportunity, Recently available to purchase due to owners’ retirement for this profitable retail liquor business located in Northern New Jersey in the county of Sussex. This combo business tavern and retail liquor sales has a gross income of $487,350 and a consistent net income the operator. The yearly gross sales consist of 60% retail and 40% consumption, approximately 45% wine, 40% beer and 15 % liquor, no delivery. The business also has a state issued Lottery license which supplies additional cash flow. The facility has approximately twenty-customer capacity. This is a dependable business opportunity. The 2022 yearly gross income represented by the owner is $487,325 and the business has a yearly net income of approximately $80,000 based on an owner operator and prior to debt service. The projected gross income is estimated at $550,000. Inventory is dollar for dollar estimated at $85,000 and based on wholesale value. The business assets have an estimated value of $170,000 which is based on replacement costs and the sale consists of a fully equipped a C type 33 retail liquor business, which includes displays, shelving, POS system, tables, computers, software including all the necessary equipment to maintain the day-to-day business operation and a list of assets will be supplied to purchaser upon request.
Listing Details
Revenue: $487,325
Cash Flow: $85,000
EBIT: $-1
FFE: $175,000 (Included in Price)
Inventory: $60,000
Form of Ownership:
C Corp
Reason For Sale:
The seller is presently absentee, with other employment and has now elected to retire from 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: 1986
Year of Last Acquisition: 2015
Days & Hours of Operation: Days of Operation: The business is active seven days per week, with hours from 11:00 am to 10:30 pm.
Owner Hours Per Week: Absentee
Employees: This retail business has seven full and part-time employees who are presently unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $6,800.
Absentee Owner?: Yes
Location
Security on Lease: Two Months
Lease Option: Yes Available
Monthly Rent: 4200
Square Footage: 1850
Relocatable?: Yes
Facilities Information:
This retail facility, which consists of 1,875 square feet, is located in a mid-size commercial mall near to numerous other active and successful businesses. This business opportunity is in Northern New Jersey, Sussex County on an active county road and in an active commercial mall. The general area consists of various highly populated communities with continued demand for this particular food product.
Summary
Historical Summary:
This is a forty-year-old full-service retail liquor and pub.
Owner Qualifications:
This industry requires NJ State government agency approval to purchase due to the
transfer of the liquor license.
Competition:
To the best of our knowledge and due to limited liquor licenses, no other new competitors are expected near to this business and the owner has agreed to supply a satisfactory non-compete agreement to the purchaser.
Potential Growth:
Regarding growth and expansion, the retail company can be further developed by improving the marketing and local advertising. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business yearly gross sales.
Financing/Terms:
Also, owner financing is available for this transaction and possible SBA financing may be available to a qualified buyer with an appropriate down payment, collateral, and credit rating.
