Listing ID: 76784
Business Overview
Description:
A popular corner store that features a variety of staple foods, beverages, beer, wine, liquor, and everyday items. This market is located in Lower Pacific Heights. Lower Pacific Heights is an eclectic, pedestrian-friendly part of the Western Addition near ritzy Pacific Heights. Fillmore Street buzzes with designer boutiques, trendy restaurants, and cafes. Residents enjoy proximity to long-standing music venues and Japantown’s sushi bars. Under same ownership from 1997.
Tons of upside potential for owner-operator buyer.
Equipment Included: Cash Register with Square POS, Reach-In Cooler, Frozen Food cooler, Security Camera System W/DVR & Monitor, Gondola Shelving, and Much More. A full list of equipment is available with the Listing Broker.
General Information:
Organization: Sole Proprietor | Square Footage: ~1500 Sq. Ft. | Licenses Required: City Bus Lic, Health Permit, Sellers Permit, Tobacco Lic., ABC Type-21 (Included & Transferable) |
Operating Hours: 8am – 12am (midnight) | Reason for Sale: Retirement.
Lease Information:
Rent: $4200/Month gross
Lease: 5 year new lease for eligible buyer.
Revenue:
Gross Sales: ~$46,000/Month
(As Per Seller, Not Verified by the Broker)
Financing:
All cash/SBA Financing.
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: $169,000
- Cash Flow: $116,000
- Gross Revenue: $559,346
- EBITDA: N/A
- FF&E: N/A
- Inventory: $75,000
- Inventory Included: N/A
- Established: 1997
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,500
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Seller training available.
Retirement
Additional Info
The venture was started in 1997, making the business 25 years old.
The sale doesn't include inventory valued at $75,000*, which ins't included in the asking price.
The property is leased by the business for $4,200 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons people resolve to sell companies. Nevertheless, the real factor and the one they tell you might be 2 totally different things. As an example, they may claim "I have a lot of other commitments" or "I am retiring". For numerous sellers, these reasons are valid. But also, for some, these might just be justifications to try to conceal the reality of transforming demographics, increased competition, recent decrease in profits, or a variety of various other factors. This is why it is really essential that you not count totally on a seller's word, but instead, make use of the seller's solution combined with your general due diligence. This will repaint a much more reasonable image of the business's current situation.
Existing Debts and Future Obligations
If the existing company is in debt, which lots of businesses are, then you will need to consider this when valuating/preparing your offer. Many businesses borrow money with the purpose of covering items such as stock, payroll, accounts payable, so on and so forth. Keep in mind that sometimes this can mean that earnings margins are too tight. Numerous businesses fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may additionally be future commitments to consider. There may be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with suppliers that need to be fulfilled or may cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the area bring in brand-new clients? Often times, companies have repeat clients, which create the core of their day-to-day revenues. Particular variables such as brand-new competition sprouting up around the location, roadway building, as well as staff turnover can impact repeat consumers and also adversely affect future revenues. One important thing to consider is the location 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 often, the higher the possibility to develop a returning customer base. A final thought is the general area demographics. Is the business placed in a densely populated city, or is it situated on the edge of town? How might the regional typical family income impact future revenue prospects?
