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Business for Sale Summary

Uptown Burger Joint for Sale in Manhattan - 35037

Business Type: absentee business,seller financing available,restaurant/ cafes/ diners
Owner Financing
Uptown Burger Joint for Sale in Manhattan
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This business has received 28 indications of interest - Act Quickly!

Financial Information (non-confidential)

General Information
Asking Price $120,000 Down Payment $120,000
Gross Revenues $600,000 Lease Remaining Register Free to View
Owner’s Cash Flow $60,000 Number of FT Employees Register Free to View

Financing

$120,000 Down and

Business Description

The asking price was recently reduced from $180K to $120K to move quickly! Established for 15 years, this one of a kind Burger Shop grossed $1.2M annually, before the pandemic. It is back up to half of that now and continuing to grow. In the meantime, the absentee-owner was able to secure a 25% rent reduction to $5K/month for 600 sq. ft. at street level and 500 sq. ft. in the basement. Following a recent renovation, he values the furniture, fixtures, and equipment at $100K alone. The shop is run by 2 full-time employees -- a cook and a cashier. Customers order at the counter and are called up when their food is ready. There is ample seating for those who want to dine in. There is a lot of delivery app business to be had here, too, especially given that the shop is located a couple of blocks either way from two major hospital systems. The seller recommends that the new owner(s) be hands-on, therefore, replacing one or more of the current employees and pocketing at least one their salaries. It would be a good idea to continue to serve beer & wine here. A license for such is much easier to get than a full liquor license. Lastly, once you've refined the operations and marketing of this business, you may want to open more company stores or even franchise the restaurant concept. Please do not speak with any of the employees or customers when visiting the location, as they do not know it's for sale. Instead, kindly email the listing broker, Jay Goldman, at jaygoldman@vestedbb.com to make an appointment to speak or meet with the seller, who is an absentee-owner. If you are new to Vested, please become a free registered buyer under listing 35037 at www.vestedbb.com.

Attention Business Owners: We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at listingmanager@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers.

Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.