Seller Financing Available
Gross Revenue: $415,000
Quaint Pizzeria Restaurant in Mall
Quaint Pizzeria Restaurant business in Union County, New Jersey on an active commercial avenue and in a popular mall. The sale includes a commercial lease at a modest rent cost and the owner will remain post closing to train a new operator. The business has a weekly gross income of approximately $8,000 weekly and can be further improved with an appropriate marketing plan. The owner is retiring after many successful years in this food service industry. The sale includes a fully equipped commercial kitchen, table’s chairs, cooking utensils and various equipment required to maintain this food service operation. This particular business has four employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll $6,200. The business has an assignable commercial lease which expires 2021-01-01 plus additional options, with a monthly rent of $2,250, CPI rent increases and rent security $4,500. The facility has private parking on site and part of the commercial lease agreement. The business is active seven days per week, with hours from 12:00 pm to 9:00 pm. The sale includes a certificate of occupancy and a food license from the particular municipality and a food license approval. Based on the asking price, required down payment and yearly net income, this business expect to supply a 50% investment return to the owner operator. The 2015 gross yearly income is $415,000 and a yearly net income of $80,000 based with an onsite owner operator and prior to any debt service. The selling price has been valued based on a multiple of the net yearly income $140,000, with 70,000 down payment for seller financing to a qualified buyer. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.
Inventory: Included in asking price
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: The business is located in Union County, New Jersey which is made up of affluent various communities and a substantial population. The facility is approximately 1,300 square feet with a clean attractive image.
Competition: To the best of our knowledge 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 & Expansion: The business presently has no marketing budget and does not deliver which would further develop the business with an improved bottom line.
Financing: Seller financing is available to qualified buyers.
Support & Training: The owner will remain after closing and supply an appropriate transitional period.
Reason for Selling: The owner is retiring after many years of success.
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