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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.

Businesses For Sale   >>   Food and Beverage Businesses For Sale Categories   >>   

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Very Strong Cash Flow Restaurant

Location  New Jersey,United States
Asking Price Range  $500K - $1.0M
Gross Revenues  $790000
Net Profit / Cash Flow  $300000
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  Yes
Year Established  1994
Number of Employees  10 - 19
Inventory  640000
Relocatable  Not Disclosed
Number of Employees  10 - 19
Real Estate  Owned
Training  Motivated owner will provide extensive training
Reason for Sale  Retirement
Description  This ZAGAT rated Italian-American restaurant has been serving its upscale clients for the past 20+ years with luncheons and dinners, including banquet operations for special occasions. Located in a prime location on a major, high traffic highway, it serves its patrons mostly living within a 20 mile range; in addition, there are some corporate clients. With two bars, a full liquor license and live entertainment Friday to Sunday, the restaurant has a competitive advantage by having long-term customers - serving 700+ dinners per week. There are few competitors close by. After a complete review of the tax returns for the past 3 years, the business was conservatively valued- with no debt to be assumed and $640,000 in assets. The asset base is projected to suffice as collateral for the acquisition lending, with a pre-qualification by an SBA lender subject to a buyer's financials. The owner will extend $195k in seller financing, payable over 15 years, essentially having a buyers only pay for hard assets. By implementing the proposed deal structure, an owner operator will obtain $200k/year in after-debt cash flow - for only $390k 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. (The real estate is not included in the deal structure below and available at $1,550,000) A comfortable transition period will be provided by a very motivated owner who truly wants to retire after a long time in the trade 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. (DATA BASED ON SIGNED INCOME TAX RETURNS)
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