Listing ID: 71312
A very well esyablished and successful deli. A community treasure. Very loyal customers and neighbors. In community for over 60 years. Covid has hurt sales a bit but nothing serious. The business was down mainly in the walk-in traffic and the catering business. Delivery and call-in has picked up considerably during these times. Since no large gathering catering was a bit smaller than usual. It will recover as the pandemic subsides. Quick drive up with ample parking. A unique menu has kept this deli moving forward over the years. A second location can be had also but those numbers are not included in the numbers posted. If you are looking for a deli business this deli has proven itsely year after year. A supporter of the community and schools. Upscale town where quality is expected.
- Asking Price: $475,000
- Cash Flow: $180,000
- Gross Revenue: $876,000
- EBITDA: N/A
- FF&E: $150,000
- Inventory: $7,500
- Inventory Included: N/A
- Established: 1960
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,200
- Lot Size:N/A
- Total Number of Employees:7
- Furniture, Fixtures and Equipment:N/A
Well designed and ample layout. Front and rear parking with front and rear entrance.
for 4 weeks
Relocating south with family
Over 60 years old...what else can be said?
Catering presents a big opportunity.
The business was founded in 1960, making the business 62 years old.
The deal won't include inventory valued at $7,500*, which ins't included in the requested price.
The business has 7 employees and is situated in a building with disclosed square footage of 1,200 sq ft.
The property is leased by the company for $6,180 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals decide to sell businesses. Nonetheless, the real factor vs the one they say to you might be 2 totally different things. As an example, they may say "I have way too many other responsibilities" or "I am retiring". For many sellers, these factors stand. However, for some, these may just be excuses to attempt to conceal the reality of altering demographics, increased competition, current reduction in revenues, or an array of other reasons. This is why it is very important that you not rely totally on a seller's word, but instead, use the seller's answer combined with your overall due diligence. This will repaint a much more reasonable image of the business's current scenario.
Existing Debts and Future Obligations
If the current entity is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your offer. Numerous companies borrow money so as to cover items like inventory, payroll, accounts payable, so on and so forth. Keep in mind that sometimes this can indicate that revenue margins are too thin. Numerous businesses come under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may also be future obligations to think about. There may be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with suppliers that must be satisfied or might lead to penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location draw in brand-new consumers? Many times, companies have repeat customers, which develop the core of their daily earnings. Specific aspects such as brand-new competition sprouting up around the location, roadway construction, and staff turn over can influence repeat consumers and also adversely impact future revenues. One essential point to consider is the placement of the business. Is it in a highly trafficked shopping center, or is it hidden from the highway? Obviously, the more individuals that see the business on a regular basis, the greater the opportunity to build a returning consumer base. A final thought is the general area demographics. Is the business situated in a largely inhabited city, or is it located on the outside border of town? How might the neighborhood average house income impact future earnings potential?