Listing ID: 83399
You can’t beat this location!
Perfect opportunity for a dessert maker to purchase a reputable business in a highly visible location on a busy route in Midcoast Maine. The back of the shop has a commercial kitchen for baking pies, cake, cookies and the front has delicious ice cream, coffee and gifts.
The baking part of the business shut down during covid and hasn’t reestablished yet, but the ice cream shop was very busy in 2021. The surrounding area benefits from lots of foot traffic and is located next to an iconic tourist destination who sends their customers here for dessert.
They also offer consignment to Maine artists and crafters, offering a selection of handcrafted Maine-made gifts including kitchen items, balsam pillows, hand thrown pottery, jewelry, art, local honey. Consignments are renewed annually and artists are individually selected. Typical consignment terms are 30/70.
- Asking Price: $45,000
- Cash Flow: N/A
- Gross Revenue: $95,000
- EBITDA: N/A
- FF&E: $12,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2018
- 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
Highly visible location next to a major tourist destination. Ice cream and consignment shop in the front with commercial baking facility and storage in the back.
Seller will train.
Focus on other interests
Others in the area, but this gets recommended by all the locals.
Re-establish the baking part of the business. Stay open year-round.
The venture was started in 2018, making the business 4 years old.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people decide to sell businesses. Nevertheless, the true reason vs the one they say to you may be 2 completely different things. For instance, they may claim "I have too many other commitments" or "I am retiring". For many sellers, these reasons stand. But also, for some, these may just be excuses to attempt to conceal the reality of altering demographics, increased competitors, recent reduction in revenues, or a variety of other factors. This is why it is very vital that you not depend completely on a vendor's word, however rather, make use of the vendor's answer in conjunction with your overall due diligence. This will paint a much more realistic picture of the business's present scenario.
Existing Debts and Future Obligations
If the current business is in debt, which many businesses are, then you will have reason to consider this when valuating/preparing your offer. Lots of companies take out loans in order to cover points like supplies, payroll, accounts payable, so on and so forth. Bear in mind that occasionally this can mean that revenue margins are too small. Lots of organisations fall into 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 think about. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with vendors that need to be fulfilled or might result in fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the location attract brand-new consumers? Most times, businesses have repeat consumers, which form the core of their daily revenues. Specific factors such as new competitors growing up around the area, roadway building and construction, and also personnel turn over can impact repeat consumers as well as negatively influence future earnings. One important point to consider is the placement of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the main road? Clearly, the more people that see the business regularly, the better the chance to construct a returning consumer base. A last thought is the basic area demographics. Is the business located in a largely inhabited city, or is it situated on the outskirts of town? Just how might the local median family income impact future earnings potential?