Listing ID: 83347
The first redemption center in Portland, Brighton Ave Redemption opened in the early 1980s and ceased operations in early 2020 due to family circumstances. With a streamlined process already in place, customers could drive up, have their returnables unloaded by an employee and then be paid as soon as everything is counted – all without having to get out of their car.
Located directly on highly trafficked Brighton Avenue/Route 25, this property offers excellent visibility with signage and room to expand if needed. Opportunity exists to take over redemption center operations or bring your own business idea.
- Asking Price: $465,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1980
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:1,334
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
1,334+/- SF main building plus two additional trailers brought in for overflow storage. Large lot on high traffic main route with signage.
There are other redemption centers in the area, but none produced the amount of volume that this business did. Customers frequented this establishment due to long-time trust and the convenience of a streamlined process. Customers preferred getting their money right away instead of waiting for credit/money at a later date.
Adding bottle routes back into the business model could be a great opportunity as there are many restaurants, hotels and other businesses in the area that may be interested. Renovating/expanding the existing building footprint would create more space for storage and offer more curbside appeal for potential new customers. Changing the layout could potentially allow for a better traffic flow and need for additional employees, both offering the opportunity for faster customer turnover.
The business was started in 1980, making the business 42 years old.
Why is the Current Owner Selling The Business?
There are all kinds of reasons people decide to sell operating businesses. Nonetheless, the real reason vs the one they say to you may be 2 absolutely different things. For instance, they may state "I have a lot of various responsibilities" or "I am retiring". For lots of sellers, these factors stand. However, for some, these might simply be justifications to try to conceal the reality of altering demographics, increased competition, recent reduction in profits, or a range of various other reasons. This is why it is very important that you not count entirely on a seller's word, yet instead, make use of the vendor's solution in conjunction with your general due diligence. This will repaint a more reasonable image of the business's current scenario.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of businesses are, then you will have reason to consider this when valuating/preparing your deal. Numerous businesses borrow money in order to cover items like inventory, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can imply that revenue margins are too small. Lots of companies come under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to consider. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with suppliers that must be met or may cause fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location attract brand-new consumers? Most times, companies have repeat customers, which develop the core of their day-to-day earnings. Particular factors such as new competition sprouting up around the area, roadway construction, and also employee turn over can affect repeat clients as well as negatively influence future earnings. One essential point to consider is the area of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Clearly, the more people that see the business often, the higher the opportunity to construct a returning consumer base. A last thought is the general area demographics. Is the business placed in a densely inhabited city, or is it located on the outskirts of town? How might the neighborhood typical family earnings influence future income prospects?