Good business opportunity for this Food Mart & Deli in a highly populated urban area of Essex County, New Jersey. This successful market offers a full menu of products including breakfast & Lunch, 20% Catering 20% C Store. This well known business also offers fresh meats, poultry and much more.
The business has a 2013 gross income of $900,000 and can evidence a yearly net income of $120,000. The sale includes a long term lease agreement at a moderate rent cost to the new operator. The business facility is 2,500 square feet with a clean modern image. The business has a full staff of full & part time employees who are expected to remain with the business after the sale.
This food market is very well known in the industry for its excellent products and stellar service. The business can be further developed with an improved marketing plan specifically by additional further catering services. The sale includes walk in and various refrigeration units, full kitchen, numerous displays, counters, large prep area, POS computer system and phone system, etc.The building has a legal capacity for 61 customers, 2,500 square feet, full basement. The area has adequate municipal parking conveniently located at this business. The food mart business is active seven days weekly with hours from 6:30 am to 6:00 pm. The business has a municipal food handler's license to serve food to the general public.
The sale includes five employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll $6,666. The sale includes a long term fifteen year lease agreement, 2028/01/01 with a yearly rent of $56,000, rental security of $9,000. The owner will offer financing with an appropriate down payment to a qualified buyer. Based on the asking price, required down payment and net income this business should supply a 40% return to the owner operator prior to debt service.