Listing ID: 76178
*Excellent location in Colorado Springs
* Spacious Store that has a great layout
* Located in a Strip-Shopping Center
* Great potential to add additional displays and inventory
* High Daily traffic count on one of the busiest streets in Colorado Springs
* Great opportunity to be your own boss
* Loyal customer following
* With some targeted marketing, working a referral program, sales will increase
- Asking Price: $280,000
- Cash Flow: $20,418
- Gross Revenue: $420,953
- EBITDA: N/A
- FF&E: $12,000
- Inventory: $155,000
- Inventory Included: Yes
- Established: 2015
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,250
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
The store is in a great location in North Central Colorado Springs. The property consists of multitenant in-line space, three buildings on pad sites. The center features a stucco design with attractive tenant signage and easy access points. High traffic counts with great visibility and easy access.
The seller will provide training to the new owner and the terms of the training will be determined between buyer and seller prior to the transfer of ownership.
Owner is ready to retire.
Estimated 2018 Demographics - 1 Mile - 15,503 - 3 mile - 106,404 - 5 mile - 264, 190 Avg. Household Income 1 mile - $65,965 3 mile - $66,251 5 mile - $70,875
Store footprint will afford increasing inventory capacity, in particular, expanding the wine section. There is a customer loyalty rewards program in place and this database could be utilized for direct marketing, referrals, and promotions to drive sales.
The business was started in 2015, making the business 7 years old.
The sale shall include inventory valued at $155,000, which is included in the requested price.
The company has 4 employees and is situated in a building with disclosed square footage of 3,250 sq ft.
The property is leased by the business for $3,385.42 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals decide to sell companies. Nonetheless, the genuine reason and the one they tell you may be 2 totally different things. As an example, they might state "I have too many other commitments" or "I am retiring". For many sellers, these factors are valid. However, for some, these may simply be reasons to try to conceal the reality of changing demographics, increased competition, current decrease in earnings, or an array of other factors. This is why it is very vital that you not depend totally on a vendor's word, however rather, make use of the seller's solution combined with your general due diligence. This will paint a more practical picture of the business's existing scenario.
Existing Debts and Future Obligations
If the current business is in debt, which lots of businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Many operating businesses finance loans with the purpose of covering points like inventory, payroll, accounts payable, etc. Remember that sometimes this can indicate that earnings margins are too thin. Numerous companies fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may also be future commitments to consider. There might be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with suppliers that need to be met or may result in charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the location bring in brand-new customers? Most times, operating businesses have repeat clients, which form the core of their day-to-day earnings. Certain factors such as new competitors growing up around the location, road construction, and also employee turnover can influence repeat consumers and also adversely affect future incomes. One important point to think about is the placement of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Certainly, the more people that see the business regularly, the better the chance to construct a returning consumer base. A final idea is the basic area demographics. Is the business located in a largely inhabited city, or is it situated on the outskirts of town? How might the neighborhood typical house income impact future earnings prospects?