Cafe / Luncheonette Near College
www.GlobalBX.com
Listing ID:
700314260
Listing Title:
Cafe / Luncheonette Near College
Quick Link:
http://www.globalbx.com/listing.asp?bId=314260
Industry:
Food and Beverage
Industry Segment:
Restaurants and Fast Food (Non-Franchise)
Country:
United States
State / Province:
New Jersey
Area
City:
Essex County
Asking Price Range:
< $250K
Gross Revenues:
$499,554
Cash Flow:
$87,500
Cash Flow Type:
EBITDA
Year Established:
2007
Number of Employees:
6 - 9
Business Description:
Unique Luncheonette Cafe near an active college and located in a highly popular affluent shopping district of Northern New Jersey, Essex County. This is an excellent business opportunity with huge growth potential. The current owner is retiring from this highly successful Cafe specializing in waffles, breakfast, brunch, lunch and deserts. The business currently has a 2017 gross income of $499,574 and a net yearly income of $87,500 based with an onsite owner operator. This product is in high demand and competition is very limited due to its unique menu and products. The business has consistently increased their sales during the past four consecutive years and new construction of hundreds of residential units are now completed in the general area and expected to further increase the gross sales. The triple net lease expires July 31st, 2022 plus options, with a current monthly rent of $4,425. The facility is 1,850 square feet with a full basement and patio for outdoor seating.
This particular business has seven-part time employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll is approximately $10,000. The business has an asset value of $175,000 and the sale includes proprietary recipes, multiple refrigeration and freezer units, POS system, tables, chairs, computers, software for this industry, accounting software, plus all the necessary equipment to maintain the day to day operation. Also, a list of equipment is available upon request. Adjacent Municipal lots provide this business with ample parking for its patrons. The business operates seven days per week, 7am-4pm M-F and 8am-3pm on weekends. The sale includes a certificate of occupancy from the particular municipality and license approval from the health department. This business transaction has been valued at $229,000 which is based on a multiple of the net yearly income plus the value of the assets and seller financing is available to a qualified buyer.
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