The Busiest Restaurant and Bar in North NJ. Phenomenal Cash Flow with C-Class Liquor License SOLD for 2.8X SDE

Price: $2,225,000

Location: North New Jersey

Industry: Restaurants, Hospitality, Food, Liqour, Beer, Wine, Packaging

Listing ID: BAE201605


Listing Description

Business Description: Location, Location, Location!  This local favorite high volume restaurant, pizzeria, and full bar is in a very busy shopping plaza. Net Margins of almost 30%  and Cash Flow of $800,000+ makes this place a real gold mine. Their sales consist of 20% from the bar, 70% from food, and 10% from deliveries. They have a C-Class liquor license(included in sale) that allows them to sell packaged goods as well. A C-Class License is hard to acquire and the best you can get. There are only 2 of them in the entire town. This business has a repeat customer base with very consistent and predictable sales. It is an Italian restaurant with a moderately priced full lunch and dinner menu that also sells pizza by the slice. They have live entertainment on the weekends and remain BUSY all day long. Whether your drop in on a Tuesday for lunch or Saturday night for dinner they have a packed house of customers enjoying their food and drinks. There is no secret to a restaurants success. Superior food quality and great customer service coupled with a nice dining atmosphere is a winning recipe. And this is what the owners have been serving for years.

Now it is time for a new owner to take over and prosper with this proven restaurant. Priced at under 3x cash flow this is an absolute steal.

This restaurant also has great online visibility and SEO. Which is crucial in today’s world of mobile “restaurants near me” searches.

Listing Details

Down Payment: $1,100,000

Total Sales: $2,900,000

Cash Flow: $800,000

FFE: $350,000 (Included in Price)

Inventory: $10,000 (Included in Price)

Reason For Sale:

Moving back to New York

Training & Support:

Yes. As much as needed! Seller wants to insure the success of the new owner

Operation

Year Established: 1960

Year of Last Acquisition: 2007

Days & Hours of Operation: 10am-11pm

Employees: 21

Managers: 3

Location

Lease Option: Yes- 17 years remaining on the lease

Monthly Rent: 11200

Square Footage: 3900

Facilities Information:

Centrally Located in a Very Busy Shopping Center

Summary

Historical Summary:

This Restaurant and Bar has been in business for decades (Originally opened in the 1960’s) and has a ton of goodwill associated with its name and food. The current owners acquired it in 2008 and simply took over an already successful business. Customers for miles around are familiar with the name and quality as many have been going there for years.

 

Owner Qualifications:

Prior restaurant ownership and business experience

Competition:

They are “The Only Game in Town”. Others have tried to open near them and emulate their success but were not successful.

Potential Growth:

Proven and sustainable business model with a catchy name make this restaurant perfect for multiple locations possibly even franchises. Growth there could be unlimited.

Financing/Terms:

Seller is willing to finance part of the acquisition. No more than 40%. Strong books and credit card sales also make this acquisition an SBA Loan candidate.