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Burger Restaurant For Sale Nets $195k

6/wk
Bergen County, New Jersey, United States
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Asking Price$395,000
Revenue$1,357,589 Established2014
Cash Flow$195,000 Employees8 full-time
FF&E$235,000* FranchiseNo
Inventory$1,200* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Modern two-year young casual Burger restaurant located in an affluent, highly active community in Northern New Jersey, city of Ridgewood, with a gross income of $1,357,589 and a net yearly income of $195,000. This highly profitable fast food restaurant offers quick over the counter service with a full menu. This restaurant offers quality foods, with a substantial mark up to the owner operator. This restaurant has been described as "their home away from home" because of the friendly cozy environment created by their hospitality and style. Regulars enjoy sitting at the counter, talking with the cooks, while eating their big juicy burger and enjoying their meal. They offer a wide variety of toppings available on any burger including mushrooms, jalapenos, chilly, bacon, etc. to name a few and they make shakes, soda floats and many other favorites. This restaurant is a gourmet burger restaurant that offers fresh food to their many customers. The stage kitchen is open for transparency into the quality food they use and for customers to connect with the process. Their burgers are crafted with the highest quality beef and grilled to perfection, and the bread is made fresh by local bakers and delivered fresh daily. The tomatoes are the finest available and hand sliced – the way a tomato should be. It's not fast food, its food made right. 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 39% investment return to the owner operator prior to debt service. This industry does not require government agency approval to purchase. This two-year young modern facility consists of 2,200 square feet with duel entrances, a walk up counter for fast service and lots of table seating. The business is located on an active commercial avenue close to a very active Northern New York bound train station which creates a substantial amount of walk in customers. This opportunity is located in Northern New Jersey, Bergen County and in the city of Ridgewood, which consists of various affluent and highly populated communities. This particular business has eight employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $26,000. The business has an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $8,600, cost per square foot is $42. and rent security $15,000. The business is located in a free stranding facility which consists of 2,200 square feet has a capacity for approximately sixty-five customers. The business assets has an estimated value of approximately $235,000 which is based on replacement cost and the sale consists of a fully equipped Burger Restaurant which includes a commercial kitchen, 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 private parking on site as part of the commercial lease. The business is active seven days per week, with hours from 11:00 am to 10:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required city licenses to conduct its day to day business. The owner will remain post-closing in order to supply an appropriate transitional period to the new operator. The sale is due to owner absentee and partnership separation. The business presently has a limited marketing plan, poor web site and if improved can further develop the business bottom line net income. To the best of our knowledge, due to various circumstances, 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 2015 yearly gross income is $1,357,589 and the business has a yearly net income of $195,000 based on an owner operator and prior to debt service. The business has been valued at $395,000 based on a very moderate multiple of the net yearly income including the value of the specific business assets and seller financing may be available 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 does Not represent this particular business opportunity.
Facilities:This two-year young modern facility consists of 2,200 square feet with duel entrances, a walk up counter for fast service and lots of table seating. The business is located on an active commercial avenue close to a very active Northern New York bound train station which creates a substantial amount of walk in customers. This opportunity is located in Northern New Jersey, Bergen County and in the city of Ridgewood, which consists of various affluent and highly populated communities.
Competition:To the best of our knowledge, due to various circumstances, 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 limited marketing plan, poor web site and if improved can further develop the business bottom line net income.
Training/Support:The owner will remain post-closing in order to supply an appropriate transitional period to the new operator.
Seller Financing:Some seller financing is available to qualified buyers.
Sale Reason:The sale is due to owner absentee and partnership separation.
Ad #88534
Seller Reference #REST467
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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