Listing ID: 76719
Business Overview
Description:
This Market is a local gem. Originally established in the 1950s and under current ownership since 2009. A Long-time local stop for staples including produce, a butcher counter, ethnic items, snacks & booze.
This location is within 2 miles of UC Berkeley. Extremely high vehicular & foot traffic area with tons of upside potential. Surrounded by dense residential neighborhood making this business location highly lucrative. An experienced operator could boost revenue by adding diverse inventory, healthy and organic choices to attract younger demographics.
Equipment: Cash Register, Walk-in cooler, Walk-in freezer, produce cooler, Meat/Butcher glass case, Gondola shelving, Meat cutting equipment. A full list of equipment is available with the Listing Broker.
General Information:
Organization: Partnership | Square Footage: ~6000 Sq. Ft. (subject to confirmation) | Licenses Required: City Bus Lic, Health Permit, Sellers Permit, Tobacco Lic., ABC Type-20 Beer & Wine Lic. (Included & Transferable) | Hours: 8 am to 12 am | Reason for Sale: Other Business Interests |
Lease Information:
Rent: $6,000/month
Lease: 7 years remaining on seller’s lease plus 10-year option.
Revenue:
Gross Sales: ~$80,000/Month (As per Seller, not verified by the Broker. Stated earnings inconsistent with financial records. Buyer to exercise revenue due diligence prior to making a business purchase offer).
Financing:
All cash
All information contained in this document resulted from representations by Seller. Mission Peak Brokers, Inc. and its agents can not and will not verify the accuracy or completeness of any information. Purchasers must verify any such information themselves and should engage legal and financial advisors to assist with the process.
Financial
- Asking Price: $199,000
- Cash Flow: N/A
- Gross Revenue: $960,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: $80,000
- Inventory Included: N/A
- Established: 1950
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:6,000
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Seller training available.
Other Business Interests
Additional Info
The business was started in 1950, making the business 72 years old.
The deal doesn't include inventory valued at $80,000*, which ins't included in the requested price.
The real estate is leased by the company for $6,000 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons people decide to sell businesses. Nevertheless, the real factor vs the one they say to you may be 2 entirely different things. For instance, they might state "I have way too many other responsibilities" or "I am retiring". For lots of sellers, these reasons stand. But also, for some, these may simply be reasons to attempt to hide the reality of altering demographics, increased competition, current reduction in profits, or a range of various other factors. This is why it is extremely crucial that you not count totally on a vendor's word, but instead, make use of the seller's answer combined with your total due diligence. This will repaint a more reasonable picture of the business's existing situation.
Existing Debts and Future Obligations
If the current business is in debt, which numerous companies are, then you will have reason to consider this when valuating/preparing your offer. Numerous companies borrow money in order to cover items like supplies, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can suggest that revenue margins are too thin. Many companies fall under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may also be future commitments to take into consideration. There may be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with suppliers that should be fulfilled or might result in charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location bring in brand-new customers? Most times, operating businesses have repeat clients, which form the core of their everyday earnings. Certain factors such as brand-new competitors growing up around the area, roadway construction, and employee turn over can influence repeat clients and also adversely influence future revenues. One important point to think about is the location of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Undoubtedly, the more people that see the business often, the greater the chance to build a returning customer base. A last thought is the basic area demographics. Is the business situated in a densely populated city, or is it located on the outside border of town? Just how might the regional mean house income impact future income potential?
