Pizza Restaurant Nets $285,000
RestaurantsFor Sale in Morristown, NJ
Financial & Assets Details
About the Business
Owner Financing for this wonderful business opportunity for this thirty-five-year-old beautiful Italian Pizzeria with a consistent gross yearly income of $1,675,000 and a net yearly income of $285,000. The business is fully upgraded with an attractive image and designed for high volume production. This is a dependable, safe business opportunity, the price has been set based on fair market value and expects to supply a consistent return on investment to the owner operator. The 2021 yearly gross income as represented by the owner is estimated at $1,675,000 and the business has a yearly net income of approximately $285,000 based on an onsite owner operator which includes any seller discretionary income and prior to any debt service. The 2022 income is expected to be similar or greater to the previous year. A formal due diligence is recommended buy broker. The business has been priced at $750,000. 2.6 times the cash flow, which is based on a multiple of the past few years yearly net income, with consideration to the particular business assets. Also, SBA bank financing is available for this transaction and seller financing may be available to a qualified buyer with an appropriate down payment, collateral, and credit rating.
Growth & Expansion
Regarding growth and expansion, the restaurant can be further developed by improving the marketing and local advertising in order to expand the delivery service. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business yearly gross sales.
SBA bank financing is available for this transaction and seller financing may be available 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 located in northern New Jersey, Morris County on a highly active county road. This business facility consists of approximately 2,500 square feet with a modern, attractive, and professional appearance. The business is in a free-standing retail facility conveniently location for its various customers.
Support & Training
Training and owner support, the owner is 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 retirement after many years of success in this food industry.