RestaurantsFor Sale in NJ
Financial & Assets Details
About the Business
Owner retiring due to a health issue after many years in this food service industry. The business is on an active highway with thousands of drive by vehicles. The price has been set very aggressively based on fair market value. This deli consists of one full time employee who is unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $3,100 prior to payroll tax. The business transaction will offer a new commercial lease which expires 2029, plus additional options available, with a monthly rent of $2,800, cost per square foot is estimated at $29,00 and rent security of approximately $5,000. The 2018 yearly gross income represented by the seller owner is approximately $189,000 plus discretionary income, and the business has a yearly net income of approximately $61,000 based on an onsite owner operator and prior to any debt service. Also, due to possible seller discretionary income, a formal due diligence is recommended by the purchaser. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity. This is a dependable safe business opportunity.
Growth & Expansion
The business can be further expanded by the new operator, with a marketing plan, advertising, delivery service and a web site which would further develop the business yearly gross sales.
To the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
This commercial deli and luncheonette is in a retail mall on an active state highway and consist of approximately 1,300 square feet with an attractive appearance. The business is in a mid-size commercial mall with various other active businesses. This opportunity is in Northern New Jersey, Passaic County, which consists of many businesses and highly populated communities with continued demand for this industry.
Support & Training
The owner’s family will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.
Reason for Selling:
Sale is due to owner's retirement.