905 Buyers Online Now
Buy Business Sell Business Business Brokers My Account

Luncheonette For Sale Nets $83k

Hudson County, New Jersey, United States
Photos Website Map
Asking Price$189,900
Revenue$375,000 Established1975
Cash Flow$83,000 Employees4 full-time
FF&E$120,000* FranchiseNo
Inventory$1,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Profitable luncheonette diner in an urban area of Hudson County, northern New Jersey and minutes from the New York Lincoln Tunnel. Owner is now retiring after thirty years in the food service industry. This active breakfast and lunch business with limited hours has a gross yearly income of $375,000 and a solid yearly net income to the owner operator of $83,000. The sale includes a long term lease agreement at fair market value with additional extensions. The facility has a seating capacity for thirty-five customers with a clean attractive image. The business also offers delivery service which represents approximately fifteen percent of the gross income. The estimated value of the assets based on replacement cost is approximately $120,000 and the sale includes a fully equipped commercial kitchen, refrigeration and freezer units, table’s chairs and various equipment required to maintain the day to day operation for this retail food operation. This business has four employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $4,217. The business has an assignable five-year commercial lease which expires 2019-01-01 plus additional options with a monthly rent of $3,500, cost per square foot $26.25 and rent security of approximately $7,000. The facility has substantial public parking near to this commercial business location. The owner will remain after closing and supply an appropriate transitional period. This luncheonette diner is operational seven days per week with hours from 6:30 am to 4:00 pm, shorter hour’s weekends. The diner has a certificate of occupancy to conduct business at this location and a food license from the municipality. Based on the asking price, required down payment and yearly net income, this business expect to supply a 35% investment return to the owner operator. The 2015 gross yearly income is $375,000 and a yearly net income of $83,000 based on an onsite owner operator and prior to debt service. The business has been valued at $189,000 based on a multiple of the net yearly income and 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 absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this particular business.
Facilities:The facility is sixteen hundred square feet with a clean attractive image. The facility has a stage kitchen and a full length diner counter for fast food service and various tables for private seating. The general area consists of a highly populated urban city with a large volume of commercial businesses. The business is located on a commercial avenue with lots of walk in customers and substantial municipal parking.
Competition:The business is located in a highly commercial area, however no new competitors are expected in this area and the owner will supply an appropriate non-compete agreement to the purchaser.
Growth Potential:Although the diner has a consistent and dependable income, with an improved marketing system for additional delivery and catering is available to further improve the gross sales to the owner operator.
Training/Support:The owner will remain after closing and supply an appropriate transitional period.
Seller Financing:Seller financing is available to qualified buyers.
Sale Reason:The owner is retiring after many years of success.
Ad #88303
Seller Reference #LNCH256
The information in this ad has been provided by the business seller or representative stated on this ad. BuyBusiness.com has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness. Please read our Terms of Service before responding to any ad on our website.
Contact This Seller
Ron Cervelli
Regal Consulting Corp.
Email Address