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Food Mart / Deli
Location: United States -> New Jersey -> Somerset County
Industry: Food and Beverage > Other Food and Beverage

Business Summary

Specialty food mart deli and restaurant offering high quality foods to the general public and to other retail food distributors. This long-standing business has a yearly gross income of $470,308 with substantial room for further growth. The products are high quality foods with substantial markup representing an excellent net income to the owner operator. The company is operation from 9:00 am to 6:00 pm and sixty percent of the products represent customer pick up. For qualifications purposes, this business opportunity does not require government licensing approval to purchase or operate in addition to the standard required municipal licenses.

Regarding employees and payroll, this food mart company routinely has six full/part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $11,750.

The business transaction has an assignable commercial lease which expires 08/01/2025, plus additional options available, with a monthly rent of $4,100, cost per square foot is estimated at $25.94 and rent security of approximately $4,100.

The business fixed assets has an estimated value of approximately $85,000 which is based on the original equipment and licensing buildout & replacement cost in addition to the existing net yearly income.

The sale includes all required documentation including a certificate of occupancy from the local municipality and the required state or city licenses to conduct its day to day business.

The 2017 yearly gross income represented by the seller owner is $470,308 and the business has a yearly net income of approximately $75,172 based on an onsite owner operator and prior to any debt service. Also, due to the possibility of non-disclosed income, a formal due diligence is recommended by the purchaser. The business has been valued / priced at $189,000 which is based on a multiple of the net yearl


Asking Price Range:  < $250K
Gross Revenues:   $470,308
Cash Flow:   $75,172
Cash Flow Type:  EBITDA
Inventory:  $85,000
Seller Financing:  Yes

About The Business

Year Established:  2013
Number of Employees:  6 - 9
Relocatable:  No
Franchise:  No
Current Real Estate:  Leased
Property:  Property For Lease

About The Sale

Management Training and Support:  The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner/operator. Also, if required the seller may be available to supply additional training, at a fair cost to the purchaser.
Reason For Selling:  The purpose of this business transaction is due to the owners relocation.


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Food Mart / Deli Photo 1

Print Listing Id: 700323525
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Related Searches: Catering Services  >  Food Production and Packaging  >  Grocery and Supermarkets  >  Liquor Stores  >  Restaurants and Fast Food (Non-Franchise)  >  Vending Machines  >  Other Food and Beverage  > 

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