MergerPlace

“Landmark” Italian Deli in a Busy Area!

New Jersey (Union)


  • Asking Price: $149,000
  • Gross Income: $194,679
  • Cash Flow: $59,121
  • Real Estate: Not Disclosed
  • Inventory: $2,500
  • FF&E: $50,000
  • Listing ID: #206668
  • Established: 75
  • Employees:

Business Description

75 year old Italian Deli, catering company & specialty foods “landmark” with Newark roots. Located on a heavily-traveled main street in center of town. Plenty of free parking in municipal lot behind store. Run by a 3rd generation husband & wife team who are looking to retire. Built a loyal customer base over 50 years in Scotch Plains selling well-known “rectangular” raviolis, fresh mozzarella, Stromboli, heat-and-serve dinners, & other Italian specialties/imported goods. FURNITURE, FIXTURES & EQUIPMENT valued @ $50,000 minimum included. New owner could increase the stores’ hours being open 6 or 7 days each week. Reasonable rent including a basement for storage. Contact Seth Kain @ 201-317- 4710 for additional details & showing.


Business Details

Primary Business Category: Retail Trade - Food & Beverage Stores
Location: New Jersey
County: Union

Company Information

Year Established: 75
Home Based: No
Franchise: No
Relocatable: No
Number of Employees:

Financial Information

Asking Price: $149,000
Gross Revenue: $194,679
Cash Flow: $59,121
FF&E: $50,000
Inventory: $2,500
Seller Financing Available: No

Property Information

Facilities:

1,207 square feet space with a basement around half its size. All Furniture, Fixtures, & Equipment in a very good condition. There’s plenty of free municipal lot parking directly behind the store. Owners have been paying very reasonable rent so they’re presently leasing on a month to month basis. A new qualified tenant can get a better lease situation.

Growth & expansion opportunities:

A new owner could very well be opened 6 or 7 days each week. It could remain as is during some of the more frigid winter months. It’d be a plus to deliver to local residents within a certain radius. Especially to their loyal elderly customers who have frequented the store for many years.

Competition:

There are two other Italian deli’s in the same town. One of them has a less variety of products. Each of the 3 have had their own very loyal customers over many years. So it’s all “friendly” competition.

Reason for selling:

The two working owners are planning to retire.

Support & Training:

The owners are offering (2) weeks training at no cost to the new buyer(s).

Contact Business Seller

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Business Listed By:

Seth Kain

Executive Business Brokers