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Café/Luncheonette For Sale Near College

Essex County, New Jersey, United States
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Asking Price$229,000
Revenue$499,554 Established2007
Cash Flow$87,500 Employees7 full-time
FF&E$175,000* FranchiseNo
Inventory$3,000 RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Unique Luncheonette Café near an active college and located in a highly popular affluent shopping district of Northern New Jersey, Essex County. This is an excellent business opportunity with huge growth potential. The current owner is retiring from this highly successful Café specializing in waffles, breakfast, brunch, lunch and deserts. The business currently has a 2017 gross income of $499,574 and a net yearly income of $87,500 based with an onsite owner operator. This product is in high demand and competition is very limited due to its unique menu and products. The business has consistently increased their sales during the past four consecutive years and new construction of hundreds of residential units are now completed in the general area and expected to further increase the gross sales. The triple net lease expires July 31st, 2022 plus options, with a current monthly rent of $4,425. The facility is 1,850 square feet with a full basement and patio for outdoor seating. This particular business has seven-part time employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll is approximately $10,000. The business has an asset value of $175,000 and the sale includes proprietary recipes, multiple refrigeration and freezer units, POS system, tables, chairs, computers, software for this industry, accounting software, plus all the necessary equipment to maintain the day to day operation. Also, a list of equipment is available upon request. Adjacent Municipal lots provide this business with ample parking for its patrons. The business operates seven days per week, 7am-4pm M-F and 8am-3pm on weekends. The sale includes a certificate of occupancy from the particular municipality and license approval from the health department. This business transaction has been valued at $229,000 which is based on a multiple of the net yearly income plus the value of the assets and seller financing is available to a qualified buyer. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business. Based on the asking price, required down payment and yearly net income, this business expects to supply a 35% return investment.
Facilities:The facility is in immaculate condition, consisting of 1,850 square feet with a seating capacity for fifty-two customers. It also includes a full basement and outdoor patio. The business has a convenient walk up counter for quick service and is capable of high volume production. The business is located in an affluent community of Essex County, New Jersey and services many communities from the general area.
Competition:No similar competitors exist in this immediate area and the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth Potential:The owner is presently semi absentee, and the business has a limited marketing system additionally, increased hours of operation can also generate a higher income.
Training/Support:The owner will remain post closing and supply an appropriate transitional period.
Seller Financing:Can be available to a qualified buyer with an appropriate down payment.
Sale Reason:The owner is retiring and relocating after many years of success. Contact the Seller Full Name
Ad #100961
Seller Reference #FF344
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
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