Listing ID: 74185
This business has been serving the local community for over 40 years! The asking price
of $299,999 also includes the 4,400 square foot building that the store occupies. The sales for this location can be drastically increased by adding a Liquor License, and hot food. Lottery commission for 2020 was $30,597. The seller is getting older and is ready for retirement. This market needs someone to bring some energy and really take this business to the next level. Call Nadir Jiddou for more information at 248-220-3274.
- Asking Price: $299,999
- Cash Flow: N/A
- Gross Revenue: $533,036
- EBITDA: N/A
- FF&E: $100,000
- Inventory: $80,000
- Inventory Included: N/A
- Established: 1978
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:2
- Furniture, Fixtures and Equipment:N/A
Large building of 4,400 square feet located on corner lot and within a local community. Seller does own a lot across the street that is available for an ADDITIONAL $100,000.00.
Seller will be available for 14 days of training and support for a minimum of 4 hours per day at no additional cost to the Buyer
This is a neighborhood market that has been around for over 40 years and does not have direct competition.
New Owner can add a Liquor license to increase sales dramatically. The store can also be updated to attract more customers.
The company was started in 1978, making the business 44 years old.
The sale shall not include inventory valued at $80,000*, which ins't included in the suggested price.
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals resolve to sell businesses. However, the true reason vs the one they tell you may be 2 entirely different things. As an example, they might say "I have a lot of various responsibilities" or "I am retiring". For many sellers, these reasons are valid. But, for some, these might simply be reasons to attempt to hide the reality of altering demographics, increased competition, recent reduction in earnings, or an array of other reasons. This is why it is extremely essential that you not depend entirely on a vendor's word, yet instead, make use of the seller's response along 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 current business is in debt, which numerous companies are, then you will certainly need to consider this when valuating/preparing your offer. Numerous companies finance loans with the purpose of covering points like inventory, payroll, accounts payable, etc. Keep in mind that sometimes this can mean that revenue margins are too thin. Numerous businesses fall into a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future obligations to consider. 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 may result in charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the area attract new customers? Most times, operating businesses have repeat customers, which form the core of their day-to-day profits. Particular variables such as brand-new competitors sprouting up around the location, roadway building and construction, and also personnel turnover can affect repeat customers as well as adversely impact future incomes. One important thing to take into consideration is the placement of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Obviously, the more individuals that see the business often, the greater the possibility to develop a returning client base. A final thought is the basic area demographics. Is the business placed in a densely inhabited city, or is it located on the outside border of town? How might the local median home earnings impact future income prospects?