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Businesses For Sale   >>   Bars and Nightclubs Businesses For Sale

Lounge Restaurant

Location  New Jersey,United States
Asking Price Range  $250K - $500K
Gross Revenues  $220000
Net Profit / Cash Flow  $50000
Cash Flow Type  EBITDA
Seller Finance  Yes
Year Established  2013
Number of Employees  4 - 5
Inventory  270000 Equipment & 1500 Inventory
Relocatable  No
Number of Employees  4 - 5
Real Estate  Leased
Training  The owner will remain post-closing for 30 days and supply a transitional period.
Reason for Sale  Alternative company out of this area.

Description  
Fully upgraded Lounge Restaurant with live dancing entertainment approval in an active commercial area in Northern New Jersey and in the County of Bergen. The business is minutes from the Giant Stadium and various shopping malls. This twenty three hundred square foot facility is ultra-modern and fully equipped for high volume production. This particular business has five employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $4,200. The business has an assignable commercial lease which expires 2028-01-01 plus additional options, with a monthly base rent of $3,500 and rent security $6,000. The business facility which consists of 2,300 square feet has a capacity for approximately eighty five customers. The facility is one year young and the sale includes a fully equipped Pub Restaurant including a newer commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, including all the necessary equipment to maintain the day to day business operation. The facility has appropriate mall private parking on site as part of the commercial lease. The business is active seven days per week, with hours from 4:00 pm to 3:00 am. The sale includes live entertainment approval, a certificate of occupancy from the particular municipality and the required food license approval from the city. The sale includes a valuable consumption liquor license, new kitchens and bathrooms and a fully upgraded facility. This is a solid business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a 29% investment return to the owner operator.


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