Cafeteria / Catering Nets $150K

Bergen County, NJ

Seller Financing Available
Cafeteria Nets $150k

Asking Price:$495,000

Cash Flow:$150,000

Gross Revenue:$1,120,000

EBITDA:N/A

FF&E:$320,000

Inventory:$1,500

Rate/Sq. Ft.:$17.30

Established:1980

Cafeteria / Catering Nets $150K

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Business Description

Unusual business opportunity for this multi service food company which offers a five-day lunch café from Monday to Friday, 7:00 am to 3:00 pm, a huge volume of daily delivery catering and two food delivery trucks which represent a yearly gross income of $1,120,000 and a consistent net yearly income to the owner operator. The business income represents 30% catering, 40% retail café and 30% food truck routes. The seller owner is retiring after thirty years for this recently remolded off premise catering company and café located in Northern New Jersey and in the county of Bergen with thousands of active customers. This is a five-day business operation, has a 2015 net income of $150,000, and 2016 projected income to increase by approximately 10%. This 5,200 square foot facility has been recently upgraded with an ultra-modern image which includes a state of the art, 2,500 square foot, high production commercial kitchen, substantial seating capacity and a loading dock for convenient delivery service. This highly successful business also has two local twenty-five-year-old commercial food routes that service various businesses in the general area. The Café has a warm attractive modern image with a seating capacity for seventy-five customers. This is a most unusual dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a solid investment return to the owner operator prior to debt service. This industry does not require government or franchise approval to purchase. The business consists of a two floor retail facility, 5,200 square feet with an ultra-modern attractive image. The business is on a 10,000 square foot pad, a free standing structure minutes from a local airport, George Washington Bridge, and near major state highways. The general area has a huge volume of active commercial businesses with a substantial number of shoppers and daily workers. This opportunity is located in Northern New Jersey, Bergen County, which consists of various highly populated & affluent communities with continued demand for this particular service. The sale also offers an option to purchase the property. This business has ten employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $25,000. The sale will include a 15-year commercial lease which expires 2030-01-01 plus additional options, with a monthly rent of $7,500 and rent security $7,500. Also option to purchase the property is available as a package sale. The business is located in a free stranding facility, two floors, which consists of 5,200 square feet and has a seating capacity for approximately seventy-five customers. The sale consists of a fully equipped restaurant / café catering business with an asset value of approximately $320,000 which is based on replacement cost, including a high capacity 1,800 square foot commercial kitchen, refrigeration & freezer units, multiple vehicles, 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 business location has appropriate private mall parking on site as part of the commercial lease. The business is active five days per week, with hours from 5:00 am to 3:30 pm. The sale includes a certificate of occupancy from the particular municipality and the required city food licenses to conduct its day to day business. The owner will remain post-closing for an appropriate time period in order to supply a training / transitional period to the purchaser. The owner is retiring after many successful years in this food service industry. The business presently has a limited marketing plan, poor web site and if improved can further developed the business net income. Additionally, the restaurant can be extended to six or seven days and to include diner and delivery service. To the best of our knowledge and due to the type of industry, 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 $1,120,000 and the business has a yearly net income of $150,000 based on an owner operator and prior to debt service. The business has been priced at fair market value $495,000 based on a multiple of the 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 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.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building Sq. Ft.:
5,200
Lease Expiration:
9/1/2026
Employees:
Ten
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The business consists of a two floor retail facility, 5,200 square feet with an ultra-modern attractive image. The business is on a 10,000 square foot pad, a free standing structure minutes from a local airport, George Washington Bridge, and near major state highways. The general area has a huge volume of active commercial businesses with a substantial number of shoppers and daily workers. This opportunity is located in Northern New Jersey, Bergen County, which consists of various highly populated & affluent communities with continued demand for this particular service. The sale also offers an option to purchase the property.
Competition:
To the best of our knowledge and due to the type of industry, no other new competitors are expected near this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth & Expansion:
The business presently has a limited marketing plan, poor web site and if improved can further developed the business net income. Additionally, the restaurant can be extended to six or seven days and to include diner and delivery service.
Financing:
Seller financing available to qualified buyers
Support & Training:
The owner will remain post-closing for an appropriate time period in order to supply a training / transitional period to the purchaser.
Reason for Selling:
Retiring after many years in this industry.

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Ron Cervelli

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Ron Cervelli

Regal Consulting Corp.

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