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Suburban Essex Restaurant

Essex County, New Jersey

Asking Price: Gross: Cash Flow:
$250,000 $750,000 $158,000

Furniture and Fixtures Value:
$150,000 (included in the asking price)

Inventory Value:
$25,000 ( not included in the asking price)

Real Estate:
$2,200,000 ( not included in the asking price)

Business Summary:
Full service great food, huge parking lot, extremely desirable location – (across street from Bus Depot, Tourist Attraction and huge parking lot.) The downside is only open 4 hours per day – losing potential income and profits from lunch or lots of dinner crowds. With such a huge parking area – too large for 150 seat restaurants free daily parking can be given to guests who come back for dinner/entrιe. Interior of restaurant is attractive with bar/lounge areas and two separate dinning rooms – one room can be set aside for catering which place will not take if ending time is much later than 9:30 closing. Food/menu for classic Italian fare are excellent, all entrees are free cut no portion control here. 50% of entrees served are seafood. Sauces are tasty. 70% food 30% liquor does approximately 350 dinners weekly at average check of 40.00 per person. Plus outside catering. When owner took over and restaurant was open longer hours place was doing over 1,000 dinners weekly and lunch average 75). Food is consistent but wine list and bar limitations can easily be improved. Dinner service by waiters is completed. C liquor license value 100,000 – building and land available for $2,200,000. Building can be lit up better for late night or winter USC.

 
   
   
Year Business was Established: 1958
   
Number of Employees: 14  
   
Facilities / Terms of Lease: 4,000 sq. foot restaurant – very spacious kitchen can easily handle 150 seats full basement and extra large parking lot.  
   
Potential Growth/Expansion: Hours of opening are the expansion potential here. Place is only open 4 hours per day. 7 days a week. Place should be open for lunch and extended evening hours to take advantage of lounge business.  
   
Competition: Only Italian themed restaurant in area – no restaurant open for lunch in area.  
   
Owner willing to finance: Owner would accept $250,000 financing at negotiable terms.  
   
Owner willing to train: 2 weeks  
   
Reason for selling: Wants to get involved with family business (no liquor).  
 

 

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