Listing ID: 78679
Opportunity to own a successful BUSINESS located on 49 acres with 390 feet of frontage directly across highway from new CARVANA distribution center. New England Outdoor Furnaces distributes outdoor wood furnaces that can produce 400,000 BTU’s of energy! As the price of fuel climbs, a wood furnace becomes even more valuable. The site formerly housed a used car business with a 3,040 square foot building and 3 bays to service cars. There is ample space to provide administrative/sales support. The LAND consists of 49 acres with 390 feet of frontage on a heavily traveled highway. Permitted uses include Retail, Single-family dwellings, Planned Unit Developments, among others. In short, this is a unique property with multiple ways to generate income.
- Asking Price: $499,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1982
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
3,040 square foot building with 3 bays
The venture was established in 1982, making the business 40 years old.
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals choose to sell operating businesses. Nonetheless, the true reason vs the one they tell you might be 2 entirely different things. For instance, they might claim "I have a lot of various commitments" or "I am retiring". For numerous sellers, these factors are valid. However, for some, these may just be justifications to try to conceal the reality of changing demographics, increased competitors, current reduction in revenues, or an array of various other factors. This is why it is very essential that you not count entirely on a vendor's word, however instead, utilize the seller's response along with your overall due diligence. This will paint a much more reasonable image of the business's existing 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 points like supplies, payroll, accounts payable, etc. Keep in mind that in some cases this can indicate that earnings margins are too small. Many businesses fall into a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may also be future obligations to take into consideration. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing agreements with suppliers that must be met or may result in penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location attract brand-new customers? Often times, companies have repeat consumers, which form the core of their everyday profits. Specific elements such as new competition sprouting up around the area, roadway construction, and also personnel turn over can influence repeat clients and negatively impact future revenues. One vital point to take into consideration is the location of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the main road? Undoubtedly, the more people that see the business on a regular basis, the higher the possibility to build a returning consumer base. A final thought is the general location demographics. Is the business placed in a densely populated city, or is it situated on the outskirts of town? Just how might the neighborhood median family income influence future revenue potential?