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Listed by:

Regal Consulting Corp.

Friendlies Casual Restaurant In New Jersey For Sale

New Jersey, US
Asking Price:
$159,900 Inventory / Stock included
Sales Revenue:
$778,473
Cash Flow:
$83,703

National franchise restaurant and Owner financing, This Excellent opportunity to own this profitable well well-known franchise restaurant located in a wonderful area of Northern New Jersey. The company has a gross yearly income of $778,473 and a net income of $83,703 based on an onsite owner-operator. This facility has recently been remodeled with an attractive professional image. Friendlies was founded in 1935 in Springfield, Massachusetts, and it initially started as an ice cream shop. Over the years, it expanded its offerings to include a full menu of breakfast, lunch, and dinner items, in addition to its famous ice cream treats.

The restaurant's menu typically includes a variety of classic American comfort food such as burgers, sandwiches, salads, and various dinner entrees. Friendly's is also known for its extensive ice cream menu, featuring sundaes, ice cream cones, and specialty desserts like their famous Fribble milkshakes. Friendly's is known for its family-oriented atmosphere and has often been a popular spot for families and children. This particular location features retro diner-style décor, with a friendly and casual ambiance. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner-operator.

Property Information

Real Estate:

Lease

Lease Terms:

Lease and terms; this business transaction will offer an assignable commercial lease which expires 2027-01-01, plus two, eight-year options available, with a monthly rent of $6,500 plus cam, $2,833, cost per square foot is approximately $39.00 and rent security is required.

Leasehold Rent:

$78,000 per annum

Lease Rent:
$39 per sq ft per annum
Location:

This business opportunity is in northern New Jersey, on a commercial avenue with many other active companies. This business facility consists of approximately 2,000 square feet with a modern, attractive, and professional appearance. The business is in a free-standing retail facility conveniently located to its various customers.

Size in square feet:
2,100

Business Operation

Expansion Potential:

Regarding growth and expansion, the casual restaurant will increase its sale with the new 2023 weekend breakfast hours, also improving the marketing for delivery service. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business yearly gross sales.

Competition / Market:

Regarding competition, to the best of our knowledge, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.

Reasons for selling:

The purpose of this business transaction is due to the owner’s involvement in an alternative business out of the general area.

Trading hours:

Days Hours of operation; this business is active seven days per week, with hours from 11:00 am to 9:00 pm. New 2023 breakfast hours are Saturday and Sunday opens at 7:00 am to 10:00 pm.

Employees:
Regarding employees and payroll, this retail company consists of six full and part-time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, and weekly base salary, and the staff is fully expected to remain post-closing, the yearly payroll expense is approximately $198,292.
Years established:
2000

Franchise Information

Franchise opportunity:

Franchise Resale

Franchise terms:

To be supplied

Other Information

Support & training:

Training and owner support, the owner is fully prepared to remain post-closing and will supply an appropriate transitional period to purchaser.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

SBA bank financing is available for this transaction and seller financing may be available to a qualified buyer with an appropriate down payment, collateral, and credit rating. Transfer franchise fee is $7,000 and royalties are 7%.

Furniture / Fixtures value:
$115,000
Inventory / Stock value:
$2,500 - included in the asking price