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Businesses For Sale > Business For Sale in Passaic County, New Jersey (NJ)

Retail Liquor Business for sale in Passaic County, NJ

Passaic County, New Jersey (NJ)

Asking Price: Gross: Cash Flow:
$ 199,000 $ 292,668 $ 47,451

Furniture and Fixtures Value:
$ 145,000 (included in the asking price)

Inventory Value:
$ 50,000 (not included in the asking price)

Business Summary:
This long-standing retail liquor business has been active for the past fifty years, serving its North Jersey, Passaic County customers with quality product and service. The company has a gross income of $292,668 plus lotto and Rips. They are a family owned retail liquor business serving their neighborhood and adjoining communities. Whether you're looking for very special bottles, searching for a gift or planning an event or party, they can introduce their selections that offer their customers diversity and quality with pricing that allows you to enjoy better more often. This shop will offer choices that combine quality with value at all price points. They are committed to providing their customers with great service and friendly expert advice and they recognize that it's your appreciation and your satisfaction that's important, and that's what will always be most important. This retail liquor business consist of 2 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 $800. The business transaction has an assignable commercial lease which expires 2027, plus additional options available, with a monthly rent of $2,600, cost per square foot is estimated at $22.29, and rent security of approximately $5,200. The business fixed assets has an estimated value of approximately $145,000 which is based on the original equipment and licensing, build out & replacement cost in addition to the multiple of the existing net yearly income. This retail liquor business operation is active seven days per week, with hours from 10:00 am to 10:00 pm. The 2017 yearly gross income represented by the seller owner is $292,668 and the business has a yearly net income of approximately $47,451 discretionary cash income, based on an onsite owner operator and prior to any debt service. Also, due to the possibility of non-disclosed income, a formal due diligence is recommended by the purchaser. The business has been valued / priced at $199,900 which is based on a multiple of the net yearly income and the value of the specific business assets. Also, possible seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. The company routinely has approximately $50,000 of marketable inventory and the purchaser will be responsible for that cost at time of closing, based on wholesale value. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business 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.

 

   
Year Business was Established: 2016
   
Number of Employees: 2  
   
Facilities / Terms of Lease: This successful retail facility which consist of approximately 1,400 square feet has a clean and professional appearance. This liquor business is on an active commercial avenue near to various national business operations which attract many daily shoppers and workers. This opportunity is in Northern New Jersey, Passaic County, which consists of various highly populated communities with continued demand for this industry.  
   
Potential Growth/Expansion: The business can be further expanded by the new operator, presently has a limited marketing plan, no local advertising, no web site and if improved can further develop the business yearly gross sales.  
   
Competition: Regarding competition, no new liquor licenses are available to this city and 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.  
   
Owner willing to finance: Can be available to a qualified buyer.  
   
Owner willing to train: The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, if required the seller may be available to supply additional training, at a fair cost to the purchaser.  
   
Reason for selling: Owner is absentee with full-time job.  
   
Seller Reference Number: LQST388
BusinessMart.com Listing Number: 236429
 

 

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For more info contact:

Ronald Cervelli

Regal Consulting Corp.
973-837-0808

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