Listing ID: 66852
Business Overview
Fish & Seafood business in Washington; unparalleled presence in the local community and, based on prominent reputation and product quality, a loyal customer base across the US. Strong margins, resilient cash generator; has thrived over 25+ years, including through economic cycles, pandemics, you name it.
Track record of growth – sales of $2.4M in 2018, $2.6M in 2019 (10% increase), $3.5M in 2020 (31% increase), and $3.8M in 2021 (9% increase). Cash flow to owner growth mirrors the substantial sales increases, from $250k in 2019 to $453k in 2021. Business is a reliable cash machine – generating attractive profitability for the owners.
25+ years in operation. Owners have a tenured, cohesive crew and are ready to retire and see the business continue to grow under new ownership. Owners are able to take multi-week vacations throughout the year and the business continues humming.
600+ 4.8 star reviews across Google, Yelp, Facebook, etc. Business has been featured in local / national media, blog / print articles, viral music videos, radio, etc. High SEO ranking and reputation keep the phones ringing with orders!
Evergreen customer demand – people have to eat! The business has a history of growth through 3 recessions AND Covid. Fish & seafood is well positioned to capitalize on several, converging trends. These include a preference for alternate protein sources, fresh food, supporting local business, continuing population increases and affluence in WA, and an increase in consumers eating at home.
Number of clear, obvious paths for new owners to continue growth, more detail provided in confidential marketing documents after you complete a Non-disclosure Agreement.
1 vehicle + equipment in excellent condition – vehicle and equipment are paid off and well maintained, same for the refrigerators, tanks, cooling equipment, ice machine, shipping / packing station, and POS system. New owner will not need to purchase any equipment immediately after buying the business
Internal structure – business has an tenured, cohesive team of 11 staff. Employees are well trained and loyal. Key staff have been with the business since 2007 and 2016. Business is a gem in the community and customers (in-person or over the phone) enjoy interacting in the shop
This is a one-of-a-kind opportunity for someone with experience with food and/or social media savvy who is looking to control their destiny, own a positive cash-flow business from day one, and have a predictable schedule that allows for a personal life.
Financials have been reviewed and pre-qualified by SBA lenders at $1.6M. Cash flows finance this business. You bring 10 – 20% down and, if needed, obtain an SBA loan. Seller financing up to 10% of the transaction price will be considered at the seller’s sole discretion.
This business is evergreen, profitable, and will continue to grow – the opportunity will not last long. For more info, complete an NDA here:
https://wabusinessbrokers.com/nda-registration/
After your NDA has been reviewed more information will be released!
Financial
- Asking Price: $1,600,000
- Cash Flow: $453,000
- Gross Revenue: $3,786,000
- EBITDA: N/A
- FF&E: $100,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 1996
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,176
- Lot Size:N/A
- Total Number of Employees:10
- Furniture, Fixtures and Equipment:N/A
2,176 sq. ft. of retail and office / storage space
Owner is amenable to providing the required training to a new owner to the extent that it is necessary based on their background. This can likely be achieved in 30 - 60 days.
Owners are ready to retire
Number of clear, obvious paths for new owners to continue growth, more detail provided in confidential marketing documents after you complete a Non-disclosure Agreement.
Additional Info
The company was established in 1996, making the business 26 years old.
The business has 10+ employees and is located in a building with disclosed square footage of 2,176 sq ft.
The property is leased by the business for $4,357 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons people decide to sell companies. Nonetheless, the genuine reason vs the one they say to you may be 2 entirely different things. As an example, they might state "I have a lot of various obligations" or "I am retiring". For lots of sellers, these reasons stand. But also, for some, these might just be reasons to try to conceal the reality of altering demographics, increased competitors, recent decrease in earnings, or a range of various other reasons. This is why it is really crucial that you not count entirely on a vendor's word, but rather, utilize the seller's answer in conjunction with your total due diligence. This will repaint a much more realistic image of the business's current scenario.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous businesses are, then you will have reason to consider this when valuating/preparing your deal. Lots of businesses take out loans with the purpose of covering points like supplies, payroll, accounts payable, and so on. Bear in mind that occasionally this can indicate that profit margins are too thin. Lots of businesses fall into a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may also be future obligations to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with vendors that need to be satisfied or might cause penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location draw in new customers? Most times, operating businesses have repeat clients, which create the core of their day-to-day profits. Specific variables such as new competitors growing up around the location, road building and construction, and staff turnover can affect repeat customers as well as adversely influence future earnings. One vital thing to think about is the area of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Clearly, the more people that see the business on a regular basis, the greater the possibility to develop a returning consumer base. A final idea is the general location demographics. Is the business placed in a largely inhabited city, or is it situated on the outskirts of town? Just how might the regional typical home income influence future revenue prospects?
