Popular casual restaurant in Downtown Jersey City New Jersey with a 2016 gross yearly income of $939,000 and a net yearly income of $190,000. This highly popular Asian Fusion restaurant is nearby to a highly populated commercial and residential area with thousands of daily workers and shoppers. This wonderful restaurant offers delicious dining, takeout and delivery to the Hoboken & downtown Jersey City area and has been recognized for its outstanding Sushi cuisine, excellent service and friendly staff. Their Sushi restaurant is known for its modern interpretation of classic dishes and its insistence on only using high quality fresh ingredients. This successful popular restaurant has a wonderful menu with an effective delivery service which represents approximately 40% of the gross sales. The ultimate Korean and French fusion cuisine offers a wonderful menu and choices of foods for its many satisfied customers. Based on the style of menu, the cost of goods is modest and business mark up to represents a consistent profit. This company has seven full & part time employees who are unaware of the pending sale and fully expected to remain post-closing, and the monthly payroll is approximately $16,000. The business has an assignable commercial lease which expires July 31, 2020 plus additional options, with a monthly rent of $3,000, and rent security of $4,600. The restaurant is on an active avenue consists of a commercial facility, consists of approximately 1,220 square feet and has an estimated capacity for approximately twenty-six customers. The business fixed assets has an estimated value of approximately $82,000 which is based on equipment and licensing replacement cost. The sale consists of a fully equipped Restaurant which includes a commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, fire suppression system including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate municipal parking nearby to the restaurant. The restaurant is operational six days per week, closed Monday and active from 11:00 am to 10:00 pm. The sale includes all required documentation including a certificate of occupancy from the municipality and the required state or city licenses to conduct its day to day business. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this business opportunity. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a 34% investment return to the owner operator prior to debt service.
This successful retail facility which consist of 1,220 square feet, has a modern and attractive appearance. The business is located on a very active commercial avenue with many other retail businesses that attract thousands of daily workers and shoppers. The restaurant is in Northern New Jersey, Hudson County, and in the city of Jersey City. The area consists of various highly populated communities with continued demand for this service.
Limited competitors presently exist with this food venue 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.
The business presently has a basic marketing plan, and web site, and can further develop its delivery service and gross sales.
Support & Training:
The owners are absentee and function with a full staff, and will supply an appropriate transitional period to the new owner / operator.
Available to qualified buyer with appropriate down payment.
Reason For Selling:
The sale is due to the owner’s absenteeism and out of the state of New Jersey.