Mexican Grill Restaurant
RestaurantsFor Sale in Watchung, NJ
Financial & Assets Details
About the Business
Wonderful modern fast-food franchise which offers a delicious menu of Southwest Mexican favorites with a substantial market up to the bottom line. The owner is absentee, and this retail business has a full staff of experience employees. The business has a newer POS system that registered and identifies the gross sales including other details of sale. The business has no local advertising, no catering or delivery service. This restaurant opened 2014 and expects to have a further increase in gross sales during 2023. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. The 2022 yearly gross income as represented by the owner is estimated at $478,127 and the business has a yearly net income of approximately $63,948 based on an onsite owner operator which includes any seller discretionary income and prior to any debt service. The 2023 income is expected to be improved with the post pandemic. A formal due diligence is recommended buy broker. The business has been priced at $150,000 which is based on a multiple of the average net yearly income, with consideration to the particular business assets. Also, seller and SBA bank financing is available for this transaction to a qualified buyer with an appropriate down payment, collateral, and credit rating.
Growth & Expansion
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.
Also, seller and SBA bank financing is available for this transaction to a qualified buyer with an appropriate down payment, collateral, and credit rating.
Regarding competition, to the best of our knowledge, 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 business opportunity is in norther New Jersey, Somerset County near to various highways convenient to its many customers. This retail franchise business is located in an active commercial mall. The facility consists of approximately 2,963 square feet with a modern, attractive, and clean appearance.
Support & Training
Training and owner support, the owner is fully prepared to remain post-closing and will supply an appropriate transitional period to purchaser.
Reason for Selling:
The purpose of this business transaction is due to the owner semi absenteeism.