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If you are looking to buy a business or sell a business, GlobalBX can help you. GlobalBX is a free business for sale listing exchange that provides a confidential forum to facilitate the buying and selling of businesses with thousands of businesses and franchises for sale as well as comprehensive business information for business buyers and business sellers. Buy a business, sell a business, find a franchise for sale or franchise opportunity at GlobalBX. Click Here to access GlobalBX's full site.

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Restaurant Lounge Banquet Facility

Location  New Jersey,United States
Asking Price Range  $250K - $500K
Gross Revenues  $695000
Net Profit / Cash Flow  $120000
Cash Flow Type  EBITDA
Seller Finance  Yes
Year Established  2009
Number of Employees  6 - 9
Inventory  275000 Equipment & 2000 Inventory
Relocatable  No
Number of Employees  6 - 9
Real Estate  Leased
Training  The owner will supply a training & transitional period & remain thirty days post closing.
Reason for Sale  The owner is semi absentee, cannot maintain full time.
Description  Ultra modern restaurant & banquet facility with liquor license in Somerset County NJ. The sale includes a valuable liquor license, a huge commercial kitchen, and three separate rooms consisting of a modern bar, restaurant and banquet room. The business also has a POS system and various equipment required for this industry. The sale includes an absolutely beautiful restaurant with a seating capacity for seventy five (75) patrons, a stunning bar with a capacity for 75 patrons and a private catering room with a capacity for one hundred & twenty (120) customers. The facility is three years young, has been fully upgraded and is now available to be purchased due to owner absentee. The business has a gross yearly income of $695,000 and will continue to develop and expand with an improved bottom line income to the owner. The sale includes a valuable liquor license and an option to purchase the real estate to a qualified buyer. This specialized opportunity has a capacity for a huge income by further developing it various venues. The owner will supply a full transitional period and will finance the sale to a qualified buyer. Based on the asking price, required down payment and net income this business will supply a 22% return to the owner operator prior to debt service. The restaurant consists of 4,800 square feet in a recently remolded facility with a beautiful modern image. The facility has multiple sections with a separate lounge / bar restaurant area and a private catering room. The business is located in an affluent community of Somerset County, New Jersey on a very active county road close to various highways. The business is near a huge commercial mall with various anchor tenants including a highly successful theater.
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