Listing ID: 73438
Well established gas station and C store with Tobacco, Lottery, and several sub-tenants located on a primary corner in the Northeast quadrant of Columbus. Current owners have run the operations for the past 15 plus years. Location has a strong Flag Brand with heavy following from the surrounding residential and retail market. Redeveloped building offers multiple sources of income (two small independent operations and a restaurant) generate additional revenues of over $3,000 per month. Acquisition of the business and property are included in the package along with a very favorable gas contract.
Owners require a signed Confidentiality Agreement and a Personal Financial Statement for any information on this location to be releases.
- Asking Price: $3,600,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2005
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:3,679
- Lot Size:N/A
- Total Number of Employees:12
- Furniture, Fixtures and Equipment:N/A
Building has 3,679 SF of use space with two sub-tenant retail spaces and a restaurant space. Property sits on a .23 ACRE parcel and has 12 stations with fiberglass tanks. Large coolers and tons of space for product / snack sales
Owners will provide on-site training for a period of time during transition of the business with the same gas staton brand.
Owners are transitioning into a different market segment
Strong corner with heavy traffic flow the filters into lots of local retail and residential areas.
Market area continues to grow in daily traffic. Great visibility and a well kept operation.
The company was started in 2005, making the business 17 years old.
The company has 12 employees and is situated in a building with approx. square footage of 3,679 sq ft.
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals resolve to sell businesses. Nonetheless, the true reason and the one they say to you may be 2 completely different things. For instance, they might state "I have a lot of other commitments" or "I am retiring". For numerous sellers, these factors are valid. But also, for some, these may simply be justifications to attempt to conceal the reality of transforming demographics, increased competition, recent decrease in profits, or a range of other reasons. This is why it is really vital that you not depend completely on a vendor's word, yet rather, use the vendor's answer combined with your general due diligence. This will repaint an extra sensible picture of the business's present circumstance.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of businesses are, then you will need to consider this when valuating/preparing your deal. Lots of companies take out loans with the purpose of covering points such as supplies, payroll, accounts payable, etc. Keep in mind that in some cases this can imply that earnings margins are too thin. Lots of businesses come under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future commitments to take into consideration. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with suppliers that need to be met or might lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location attract new consumers? Most times, operating businesses have repeat customers, which form the core of their everyday revenues. Particular factors such as brand-new competitors sprouting up around the location, roadway building, and also employee turn over can affect repeat customers and negatively influence future profits. One important thing to consider is the placement of the business. Is it in a highly trafficked shopping mall, or is it hidden from the main road? Clearly, the more individuals that see the business often, the better the chance to develop a returning client base. A last thought is the general location demographics. Is the business located in a largely populated city, or is it situated on the outskirts of town? Exactly how might the neighborhood typical house earnings impact future revenue prospects?