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Pub Restaurant For Sale

62/wk
Bergen County, New Jersey, United States
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Asking Price$375,000
Revenue$1,255,470 Established1980
Cash Flow$212,347 Employees8 full-time
FF&E$170,000* FranchiseNo
Inventory$2,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Successful Pub restaurant located in Northern New Jersey, Bergen County, minutes from the George Washington Bridge and in a wonderful active & affluent community. The business has a yearly gross income of $1,255,470 and a yearly net income of $212,347. The company gross sales represent 55% liquor and 45% food resulting in a moderate cost of goods and a substantial mark up. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a 45% investment return to the owner operator prior to debt service. This sale will require state government agency approval to purchase due to the transfer of the consumption liquor license. This business opportunity is located in Northern New Jersey, Bergen County, close to Garden State Parkway and US Route 80 and consists of various highly populated communities with continued demand for this particular food service. The business consists of a modern retail facility, two floors which consist of 2,600 square feet with an attractive modern appearance. The business is on an active commercial avenue with various other active and successful businesses. This particular business has eight full & party time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $24,000. The restaurant has an assignable lease which expires 2027 -01-01 plus additional options, with a monthly rent of $9,233 all in, and rent security 2 ½ months. The business facility consists of 2,600 square feet has a capacity for approximately one hundred & ten customers.The company assets have an estimated value of $180,000 which is based on the past year’s balance sheet. The sale consists of a fully equipped Pub Restaurant which includes a full commercial kitchen, use of a consumption liquor license, refrigeration & freezer units, POS system, displays, shelving, tables, computers, fire suppression system 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.The facility has appropriate municipal parking nearby to the business.The company is active seven days per week, with hours from 12:00 noon to 1:00 pm, however, the business can remain open to 2:00 am. The sale includes a certificate of occupancy from the particular municipality, use of a consumption liquor license, entertainment approval, and the required state or city licenses to conduct its day to day business. The sellers will remain post-closing in order to supply an appropriate training & transitional period to the new operator. The owners represent four absentee partners who have full-time jobs and cannot continue to maintain this business. The business presently has a basic marketing plan, poor web site, semi-absentee ownership, and if improved can further develop the business bottom line net income. To the best of our knowledge, due to the unavailability of any new liquor license, no other new competitors are expected near to this business, and the owner has agreed to supply a long term non-compete agreement to the purchaser. The 2016 yearly gross income will be a minimum of $1,255,470 and the business will evidence a yearly net income of $212,347 based on an onsite owner operator and before debt service. The business has been valued at $375,000, based on a multiple of 2.25 times the average net yearly income which includes the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral, and credit rating. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.
Facilities:This business opportunity is located in Northern New Jersey, Bergen County, close to Garden State Parkway and US Route 80 and consists of various highly populated communities with continued demand for this particular food service. The business consists of a modern retail facility, two floors which consist of 2,600 square feet with an attractive modern appearance. The business is on an active commercial avenue with various other active and successful businesses.
Competition:To the best of our knowledge, due to the unavailability of any new liquor license, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth Potential:The business presently has a basic marketing plan, poor web site, semi absentee ownership, and if improved can further develop the business bottom line net income.
Training/Support:The sellers will remain post-closing in order to supply an appropriate training & transitional period to the new operator.
Seller Financing:Seller financing is available to qualified buyers.
Sale Reason:Owners represent four absentee partners.
Ad #86602
Seller Reference #BAR603
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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