Listing ID: 76047
Famous Staten Island North Shore Delicatessen is now on the market, pre-pandemic the store used to gross $40,000 per week.
Great for a cook or family to take this beauty back to its original 40k per week cash cow.
-2000 square foot amazing bset-up must see
-Cheap rent at 3500.00 makes this a money maker
-Great for Cook or Deli operator who lives in Richmond County
-9.5 year lease at 3% esc
- Asking Price: $295,000
- Cash Flow: $133,000
- Gross Revenue: $500,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
Seller willing to train new buyer
Other business interests
The real estate is leased by the business for $3,500 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons people decide to sell companies. Nonetheless, the real reason vs the one they say to you might be 2 entirely different things. For instance, they might state "I have way too many various commitments" or "I am retiring". For lots of sellers, these reasons stand. However, for some, these may simply be justifications to attempt to hide the reality of transforming demographics, increased competitors, recent decrease in profits, or an array of various other factors. This is why it is very important that you not rely entirely on a seller's word, yet rather, utilize the vendor's answer combined with your total due diligence. This will repaint a much more sensible picture of the business's current situation.
Existing Debts and Future Obligations
If the existing company is in debt, which lots of companies are, then you will need to consider this when valuating/preparing your offer. Many companies finance loans in order to cover points like stock, payroll, accounts payable, so on and so forth. Bear in mind that occasionally this can mean that profit margins are too small. Many businesses fall into a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future commitments to consider. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with vendors that should be satisfied or might lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location draw in new customers? Often times, operating businesses have repeat consumers, which form the core of their everyday profits. Specific factors such as new competition growing up around the location, roadway building and construction, and also personnel turnover can influence repeat consumers and also adversely impact future incomes. One essential point to consider is the area of the business. Is it in a very trafficked shopping mall, or is it hidden from the main road? Clearly, the more individuals that see the business on a regular basis, the higher the chance to develop a returning client base. A last idea is the general area demographics. Is the business placed in a largely populated city, or is it situated on the edge of town? Just how might the regional typical household income effect future income prospects?