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If you are looking to buy a business or sell a business, GlobalBX can help you. GlobalBX is a free business for sale listing exchange that provides a confidential forum to facilitate the buying and selling of businesses with thousands of businesses and franchises for sale as well as comprehensive business information for business buyers and business sellers. Buy a business, sell a business, find a franchise for sale or franchise opportunity at GlobalBX. Click Here to access GlobalBX's full site.

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Profiitable Banquet & Restaurant On Jersey Shore

Location  New Jersey,United States
Asking Price Range  $1.0M - $2.5M
Gross Revenues  $800000
Net Profit / Cash Flow  $465000
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  Yes
Year Established  1999
Number of Employees  10 - 19
Inventory  640000
Relocatable  No
Number of Employees  10 - 19
Real Estate  Owned
Training  A comfortable transition period will be provided by a very motivated owner who truly wants to retire and who wants to see his business continuing to flourish. A very well trained and highly qualified team will stay in place and support the new owner in al
Reason for Sale  Retirement
Description  After 20+ years in business, our client wants to retire from his New Jersey shore, Italian-American restaurant located on a major, high traffic highway. The ZAGAT rated restaurant been serving its upscale clients for the past 20+ years out of this prime location. The restaurant provides luncheons and dinners, including banquet operations for special occasions. Most patrons live within a twenty mile range, and at times, customers visit the restaurant on a pre- or post theatre/concert performance; in addition, there is some corporate client business, too. There are two bars with a full liquor license. The restaurant enjoys a competitive advantage by having long-term customers, providing live entertainment on Friday to Sunday. Due to its niche, there are few, if any, competitors close by. The restaurant serves 700+ dinners per week. The business was conservatively valued at 2.9x EBITDA (ttm) after the financials and tax returns have been reviewed. There is no debt. The business is pre-qualified by an SBA lender subject to buyer's financials, and by implementing the proposed deal structure a buyer will obtain $175k/yr in after-debt cash flow, or a 50%+ return on buyer's cash down-payment. A property real estate appraisal is included in the prospectus if a purchase is desired. The real estate includes a two-story 4700 sq. feet restaurant building on a 30,000 sq. feet corner lot, 220 ft facing a major highway. The building has been completely renovated recently and is in superb condition, including a nicely paved parking lot. (Real estate not included in the deal structure below) A comfortable transition period will be provided by a very motivated owner who truly wants to retire and who wants to see his business continuing to flourish. A very well trained and highly qualified team will stay in place and support the new owner in all aspects of the business. Achim Neumann - (732) 872-6777
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