Listing ID: 78808
This is a wonderful opportunity for an individual, a family, or a similar business looking to expand, to own and operate a landmark convenience store with full kitchen and deli store in the city of Manchester, New Hampshire. Situated in a great location that is highly traveled, this convenience store has been a fixture since 1978. It draws in the everyday working crowd, locals and tourists as they have built a solid reputation with the local community. They have brand name products and are known for their high-quality food. The convenience store provides groceries, beer, wine, lottery, cigarettes and much more. They have a full breakfast and lunch menu and offer to go whole meal replacement options. The current owner is looking to retire but will stay on and fully train a new owner. In addition, there are multiple ways a new owner can improve sales such as expanding hours, expanding delivery, as well as improving the online presence through a website and social media. This business is turn-key; the new owner will step into an established and profitable business immediately. This opportunity, including the furniture, fixtures and equipment, goodwill and training is offered at $294.500.
- Asking Price: $294,500
- Cash Flow: $90,932
- Gross Revenue: $965,851
- EBITDA: N/A
- FF&E: $50,000
- Inventory: $50,000
- Inventory Included: N/A
- Established: 1978
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
BUSINESS ONLY. 3,000 sf building with a full commercial kitchen for lease
Training will be provided during the transition to new owner
Excellent location near a well known Landmark
Business Hours can easily be increased. Internet and Social Media should be implemented as current ownership does not use.
The business was founded in 1978, making the business 44 years old.
The sale shall not include inventory valued at $50,000*, which ins't included in the listing price.
Why is the Current Owner Selling The Business?
There are all types of reasons why people resolve to sell businesses. Nevertheless, the true reason vs the one they say to you might be 2 absolutely different things. As an example, they may claim "I have too many other responsibilities" or "I am retiring". For many sellers, these factors stand. But also, for some, these might just be reasons to attempt to hide the reality of changing demographics, increased competition, recent reduction in profits, or an array of other reasons. This is why it is very crucial that you not count totally on a vendor's word, but rather, use the seller's answer combined with your general due diligence. This will repaint a 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 certainly need to consider this when valuating/preparing your offer. Numerous companies take out loans so as to cover points such as stock, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can indicate that revenue margins are too tight. Lots of organisations fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future obligations to consider. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with vendors that have to be met or may cause penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the area bring in new customers? Many times, companies have repeat consumers, which create the core of their daily profits. Particular elements such as brand-new competition sprouting up around the location, road construction, as well as employee turnover can affect repeat clients and negatively affect future earnings. One crucial point to take into consideration is the location of the business. Is it in a highly 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 opportunity to construct a returning client base. A final thought is the basic area demographics. Is the business placed in a largely inhabited city, or is it situated on the outside border of town? Just how might the regional typical household income influence future earnings prospects?