Popular Tapas style restaurant with wine license, located in wonderful affluent city in Northern New Jersey, and in the County of Bergen. This successful restaurant has a wonderful reputation, strives to create an atmosphere full of vitality and fun. A substantial percentage of their sales represents delivery and pick up. They deliver a special atmosphere for their customers to feel warm and welcome as they choose from their eclectic menu that highlights their global culinary influences. The staff’s greatest objective is to nourish their community and guests. This is a wonderful / dependable business opportunity, the owner does not function in the kitchen.
- Asking Price:
- $210,000 Furniture / Fixtures and Inventory / Stock included
- Sales Revenue:
- $884,960
- Cash Flow:
- $110,000
Property Information
- Real Estate:
-
Lease
- Leasehold Rent:
-
$54,720 per annum
- Lease Rent:
- $41 per sq ft per annum
- Location:
-
This is a quant and attractive restaurant which consist of 1,330 square feet with a modern appearance and located on an active commercial avenue in upper Bergen County New Jersey. The general area consists of many affluent communities with various active and successful businesses.
- Size in square feet:
- 1,330 Square feet
Business Operation
- Expansion Potential:
-
The restaurant business has a semi absentee owner, has a limited marketing plan, poor web site and if improved can further develop the business income.
- Competition / Market:
-
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.
- Reasons for selling:
-
The owner has elected to retire after many years in this industry.
- Trading hours:
-
The business is active six days per week, with hours from 4:00 pm to 9:00 pm.
- Employees:
- The restaurant has five employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $13,800.
- Years established:
- 1995
Other Information
- Support & training:
-
The owner will remain post-closing in order to supply an appropriate transitional period to the new operator.
- Owner financing:
- Owner financing is available. Please contact the seller for more information.
- Financing available:
-
Seller financing has been approved to a qualified buyer with an appropriate down payment, collateral, and credit rating.
- Furniture / Fixtures value:
- $85,000 - included in the asking price
- Inventory / Stock value:
- $1,500 - included in the asking price
