Listing ID: 71407
Catering Business with Government and Corporate Client base – Turn key.
Seller extremely motivated to retire and willing to sell WAY under fair market value for this level of cash flow!
Own this popular, 25-year-old neighborhood catering business located in Mount Holly, NJ, with a loyal clientele including 40 corporate catering clients providing STEADY RECURRING REVENUE. Some customers that will come with this business include MAJOR well-known and highly lucrative corporate and government institutions!!
This is a very rare-to-market and HIGH CASH FLOW opportunity to become the new owner of a PROVEN AND ESTABLISHED food industry business which is perfectly positioned to thive in the new era of growing catering demand. An excellent stand alone business OR (if you’re already in the industry) add this as a perfect catering bolt-on to your existing business.
Comes with EVERYTHING and EVERYONE you need to grow as well as a depply established existing corporate client base. Using the finest ingredients, all food is prepared in their own kitchen from scratch. The extensive menu includes breakfast items, hot entrees, family style dinners, hoagies, strombolis, salads, soups, and sides. No competing business in the market offers a similar menu.
The deli/restaurant accounts for approximately 60% of sales; the catering portion for approximately 40%. Food cost due to waste is kept to a minimum in the catering portion as whatever is over-prepared can be sold in the deli/restaurant.
Honored to have been nominated “Burlington County’s Best Caterer” and “Best Deli” by the readers of Burlington County Times almost every year since 1998.
All Accounts Receivable and FF&E INCLUDED in asking price.
Owner looking to retire. THIS BUSINESS SALE WILL NOT BE AVAILABLE FOR LONG. CONTACT US IMMEDIATELY USING THE “CONTACT” BUTTON ON THIS LISTING TO REQUEST AN NDA AND ALL DETAILS, OFFERING MEMORANDUM AND FINANCIALS.
- Asking Price: $699,000
- Cash Flow: $716,750
- Gross Revenue: $1,525,000
- EBITDA: N/A
- FF&E: $50,000
- Inventory: $18,000
- Inventory Included: Yes
- Established: 1997
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,150
- Lot Size:N/A
- Total Number of Employees:8
- Furniture, Fixtures and Equipment:N/A
2150 sq. ft. retail/kitchen space and 28ft box truck for storage. Included in the sale of the business is the well-known name of the business and the recipes which have made it a success.
Will provide generous support and training to ensure a smooth transition and to provide introductions to guest base and corporate accounts. Seller wants to do everything possible to give new owner the greatest chance for growth and expansion. Duration and compensation negotiable.
There are no competing business in the market with the same type of menu offerings (catering, deli, and restaurant).
Add OFFICE catering, subscription services for corporate delivery lunches with new specialty offerings that nobody else is offering (ie., vegan/vegetarian, etc), start marketing for large corporate and social events. The growth potential Operating hours could be expanded to include early morning, evening, and Sunday hours. Kitchen operation could be relocated to a central kitchen with lower rent that serves smaller satellite retail locations.
The company was founded in 1997, making the business 25 years old.
The deal does include inventory valued at $18,000, which is included in the listing price.
The company has 8 employees and resides in a building with estimated square footage of 2,150 sq ft.
The real estate is leased by the company for $5,838 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons people decide to sell businesses. However, the real factor and the one they say to you may be 2 absolutely different things. As an example, they may say "I have a lot of other commitments" or "I am retiring". For many sellers, these reasons stand. However, for some, these might simply be excuses to try to conceal the reality of altering demographics, increased competitors, recent reduction in incomes, or a variety of other factors. This is why it is really crucial that you not rely totally on a seller's word, but instead, make use of the vendor's answer along with your general due diligence. This will paint an extra reasonable picture of the business's present scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Many operating businesses finance loans with the purpose of covering things such as supplies, payroll, accounts payable, etc. Remember that sometimes this can mean that earnings margins are too tight. Numerous organisations fall under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may likewise be future commitments to take into consideration. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with suppliers that must be satisfied or might cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the location draw in brand-new clients? Most times, companies have repeat clients, which form the core of their everyday profits. Certain factors such as new competitors growing up around the area, road building and construction, as well as staff turnover can affect repeat clients and negatively influence future revenues. One essential point to consider is the area of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Undoubtedly, the more people that see the business regularly, the better the opportunity to develop a returning customer base. A last idea is the basic location demographics. Is the business located in a densely inhabited city, or is it situated on the outskirts of town? Exactly how might the regional average household earnings impact future income potential?