Business Overview

In spite of COVID-19 challenges, this business is thriving!
Enjoy small town living with a strong income as owner/operator of Carroll’s Bakery located in Spencer, Iowa. This bakery has been a destination location since 1928.

This turn-key business has everything you will need to be successful including equipment, recipes, strong customer following, and great real estate with 2 apartments upstairs.

If you love baking, enjoy small town friendly people and want to be financially secure this could be the opportunity you have been seeking.

Financial

  • Asking Price: $325,000
  • Cash Flow: $146,000
  • Gross Revenue: $268,000
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 1928

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:Yes
  • Building Square Footage:2,700
  • Lot Size:N/A
  • Total Number of Employees:2
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

Bakery on first floor with rented apartments on 2nd floor.

Is Support & Training Included:

Owner will train and assist in transition.

Purpose For Selling:

Retirment

Additional Info

The venture was started in 1928, making the business 94 years old.

The business has 2 employees and resides in a building with approx. square footage of 2,700 sq ft.

Why is the Current Owner Selling The Business?

There are all types of reasons why people choose to sell operating businesses. However, the genuine factor and the one they say to you may be 2 totally different things. For instance, they might claim "I have too many various obligations" or "I am retiring". For many sellers, these reasons are valid. However, for some, these may just be excuses to attempt to conceal the reality of transforming demographics, increased competitors, current decrease in incomes, or a range of other reasons. This is why it is extremely important that you not count absolutely on a vendor's word, but rather, utilize the vendor's solution combined with your general due diligence. This will paint a much more sensible picture of the business's current circumstance.

Existing Debts and Future Obligations

If the existing business is in debt, which lots of companies are, then you will certainly need to consider this when valuating/preparing your deal. Numerous businesses finance loans in order to cover items like stock, payroll, accounts payable, and so on. Bear in mind that sometimes this can suggest that earnings margins are too small. Lots of companies fall into a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may likewise be future obligations to consider. There might be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with vendors that have to be met or might lead to charges if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Just how do operating businesses in the area attract brand-new clients? Many times, operating businesses have repeat consumers, which create the core of their daily revenues. Certain variables such as brand-new competitors sprouting up around the location, roadway building, as well as personnel turnover can affect repeat clients and also negatively impact future revenues. One important point to consider 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 regularly, the higher the opportunity to build a returning customer base. A final thought is the general location demographics. Is the business placed in a largely inhabited city, or is it located on the outskirts of town? Exactly how might the regional average household income impact future income potential?