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Successful Restaurant Lounge For Sale

Passaic County, New Jersey, United States
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Asking Price$350,000
Revenue$600,000 Established2009
Cash Flow$125,000 Employees5 full-time
FF&E$275,000* FranchiseNo
Inventory$10,000 RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Dependable business opportunity to own this highly successful restaurant with a valuable consumption liquor license located in affluent area of Northern Passaic County, New Jersey. The present owner is retiring and will supply training and financing to a qualified buyer. The restaurant is also known for its wonderful service and it has off premise catering service. This industry require government agency approval to purchase due to the liquor license. The sale includes a fully equipped Restaurant lounge which includes a high production commercial kitchen, various 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. This long-standing food service business has five employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $6,800. The business has an assignable commercial lease which expires January 31, 2022 plus additional options, with a monthly rent of $4,350, cost per square foot is approximately $26.10 and rent security $4,350. The business is located in a modern commercial mall with various other successful business. The restaurant which consists of 2,000 square feet has a capacity for approximately ninety customers. The facility has appropriate private mall parking on site as part of the commercial lease. The business is active six days weekly, closed Sunday, with hours from 12:00 noon to 10:00 pm, however the operator can develop later hours to 2:00 am. The sale includes a consumption liquor license, certificate of occupancy from the particular municipality and the required city food licenses to conduct its business. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a 34% investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.
Facilities:This retail restaurant facility consists of 2,000 square feet with a modern physical appearance. The business is in a mid-size mall with various other active and successful businesses. The restaurant has a professional kitchen, modern bar for approximately twenty patrons and seating for an additional eighty. This opportunity is located in Passaic County, New Jersey, which consists of various affluent communities with continued demand for this food service industry.
Competition:Due to the unavailability and highly value of the 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 web site with a limited marketing plan, and if improved can further developed the business bottom line corporate income. Additionally, the business can be opened Sunday which can further improve the bottom line income.
Training/Support:The owner will remain post-closing for 45 days and supply a transitional period.
Seller Financing:Available to a qualified buyer.
Sale Reason:The owner is relocating out of the area and retiring from the industry.
Ad #98678
Seller Reference #REST578
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
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