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Solid business opportunity for this highly successful pizzeria restaurant with a gross yearly income of $962,180, and a net income of $121,601. They are family owned and operated for many years servicing Hoboken, Jersey City and the general area featuring excellent Italian foods. Their full-service restaurant has plenty of seating available and offers private parties. The business gross income represents 50% delivery service to home or business or their customers often us the available pick up and takeout services. They are well known for their great pizza and Italian foods, wonderful atmosphere and dining area. They use only the best ingredients to make their pizza, like fresh mozzarella, imported San Marzano tomatoes, extra virgin olive oil and gourmet sauces cooked from scratch. They cook their pizzas with the old-world tradition, in a real wood fired brick oven at high temperatures that produces a flavor unlike any other. Many of their customers bring their own wine in order to take advantage of a wonderful dining experience. This pizzeria restaurant consists of nine 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 $18,000. The business transaction has an assignable commercial lease which expires 08/31/2023, plus additional options available, with a monthly rent of $5,679, cost per square foot is estimated at $34.95 and rent security of approximately $10,400, personal guarantee 5% yearly increases. This restaurant and pizzeria business operation is active seven days per week, with hours from 11:00 am to 9:30 pm, adjusted on weekends. The 2017 yearly gross income represented by the seller owner based on the company’s tax returns is $962,180 plus undisclosed income and the business has a yearly net income of approximately $121,601 which includes seller discretionary income, based on an onsite owner operator and prior to any debt service. The 2018 company’s gross income is expected to be similar to the previous year. Also, due to the possibility of non-disclosed income, a formal due diligence is recommended by the purchaser. This is a dependable safe business opportunity with a solid profit margin with the ability to further increase the yearly gross sales. Based on the asking price, required down payment for owner financing this business opportunity expects to supply a consistent return on investment to the owner operator. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.
This successful pizzeria consists of approximately 1,800 square feet and has an attractive and clean appearance. The business is on an active commercial avenue with hundreds of other active and successful retail businesses that produce a substantial number of daily shoppers. This opportunity is in Northern New Jersey, Hudson County, which consists of a highly populated urban city with numerous renters with continued demand for this industry.
The business opportunity can be further expanded by the new operator by improving the existing marketing plan and the required local advertising. Additionally, the company has a limited poor non-optimized web site and if adjusted can further develop the business yearly gross sales.
Regarding competition, to the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
The purpose of this sale is due to the owner relocating out of the area.
If required the owner will remain post-closing and is prepared to supply a transitional & a two-week training period to the new owner / operator.
Is available with an appropriate down payment.
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