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Listing ID: 3139947

Day Care Montclair NJ Area For Sale

Essex, New Jersey, United States

$ 99,000

(Furniture / Fixtures included)

Revenue: $ 174,573

Cash Flow: not disclosed

Business Description

Modern attractive day care center in a highly affluent area of Essex County, New Jersey with a capacity of seventeen (17) children ages 12 months six years. The owner was semi absentee and will consider owner financing to a qualified buyer. This is a dependable safe business opportunity which had a positive net yearly income. The center is presently closed due to owner circumstances, and is zoned, licensed and fully ready to resume immediate operation upon successful transfer of the state childcare license. This location has been established as a successful childcare center for 20 years. Families from the surrounding areas have demonstrated that they will pay a premium for high quality childcare. This center was recently upgraded to meet those needs. Although they currently have no enrollment as a result of the pending sale, they are confident that the new owner could refill the school quickly, especially with an appropriate marketing campaign. Most, of the competitors currently have waiting a list with families anxious to enroll in a nearby quality center and there is presently a shortage of infant care in our market. The business has an assignable commercial lease which expires 06/30/2022, plus five-year options, with a monthly rent of $2,599, yearly 3% rent increases, cost per square foot is estimated at $26.50 and rent security of approximately $12,250. The business has been valued / priced at $99,000 based on a multiple of the net yearly income which includes the value of the specific business assets. Also, seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. All viewings are by appointment only and photo does Not represent this particular business opportunity.

Property Details

Size:

2400

Property Type:

Lease

FF&E:

$ 43,000

Other Details

Business Location:

This children’s day care facility consists of approximately 2,400 square feet and an attractive 800 square foot outdoor play area with a modern appearance. The business is on a convenient commercial avenue with various other local businesses. This opportunity is in Northern New Jersey, Essex County, which consists of highly populated urban communities with continued demand for this industry.

Competition:

To the best of our knowledge, due to various circumstances, no other new competitor day cares are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.

Expansion Potential:

The business presently has a limited marketing plan, no local advertising, limited web site and if improved can further develop the business yearly gross sales. The new owner of this center could command a $50k annual salary as director. Or, the current director may be interested in staying on to facilitate the novice operator and to secure new enrollments.

Operation Details

Support & Training:

The owner was primarily absentee and cannot supply a transitional period to the new owner / operator.

Miscellaneous

Financing Available:

Yes
May be available with an appropriate down payment.

Reason For Selling:

The sale is due to the owner full time job commitment in alternative field.

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