Listing ID: 83219
This is an exceptional county seat weekly newspaper. The staff is top notch – metro newspaper quality. The state and national awards attest that page for page it’s one of Florida’s premier papers. It’s smack in an area that provides the rural setting where hometown newspapers thrive, but within 35 miles of a major city’s amenities. No print competition. The building is modern, well-maintained and attractive, and capable of paying for itself via two rental spaces. 20+% earnings. If you wish to be the owner/publisher of a high-quality and profitable community newspaper, you won’t find a better property in a better market in price range.
- Asking Price: $365,000
- Cash Flow: $120,000
- Gross Revenue: $600,000
- EBITDA: N/A
- FF&E: $42,000
- Inventory: $1,000
- Inventory Included: Yes
- Established: 1929
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:5,600
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
Beautiful newspaper office and two adjoining buildings are for sale or lease. The two adjoining buildings are currently being remodeled. Building size – newspaper building, 2,000 square feet. Adjoining two buildings are 1,800 square feet each. Recent appraisal of $515k before remodeling.
Smooth transition expected thanks to outstanding current staff that handles all news and business functions, and will enthusiastically support new owner.
Owner since 1974 is retiring
no print and minimal media competition
county is growing at a smooth and moderate pace. Opportunity to increase advertising in adjoining metro market and expand digital revenue opportunities. Use web site to broadcast live local events such as sports, graduations, things other media does not cover in any depth (sponsor ads).
The business was founded in 1929, making the business 93 years old.
The deal will include inventory valued at $1,000, which is included in the asking price.
The company has 3ft, 3pt, 4fl employees and is located in a building with estimated square footage of 5,600 sq ft.
Why is the Current Owner Selling The Business?
There are all sorts of reasons people choose to sell businesses. However, the real factor and the one they say to you might be 2 entirely different things. As an example, they might say "I have way too many various obligations" or "I am retiring". For lots of sellers, these factors stand. But, for some, these might just be reasons to try to hide the reality of transforming demographics, increased competitors, current decrease in revenues, or an array of various other reasons. This is why it is extremely essential that you not rely entirely on a seller's word, but rather, make use of the seller's response in conjunction with your total due diligence. This will repaint a more sensible picture of the business's current scenario.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous businesses are, then you will have reason to consider this when valuating/preparing your deal. Lots of businesses take out loans in order to cover things such as stock, payroll, accounts payable, so on and so forth. Remember that sometimes this can suggest that revenue margins are too small. Lots of businesses fall into a revolving door of taking loans as a way to pay back other loans. Along with 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 might have existing agreements with suppliers that have to be fulfilled or might lead to penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area attract brand-new customers? Often times, businesses have repeat customers, which form the core of their everyday earnings. Certain elements such as new competitors growing up around the area, roadway construction, and also staff turn over can affect repeat customers and also negatively impact future incomes. One crucial thing to consider is the area of the business. Is it in a highly trafficked shopping mall, or is it concealed from the highway? Clearly, the more individuals that see the business often, the better the possibility to construct a returning consumer base. A final thought is the general location demographics. Is the business located in a densely populated city, or is it located on the outskirts of town? How might the local median house income influence future income potential?