Business Overview

This country store is an icon in the area, benefitting from both year-round residents and tourists alike. The business is open year-round and offers friendly and quick service that customers have come to expect. This store is a popular place to grab breakfast or lunch on the go and also offers a wide variety of baked goods, coffee, beer, wine, cigarettes, tobacco, lottery tickets, and other convenience store items. The main focus is on the deli and baked goods which account for roughly 60% of annual sales.

Great customer service continues to bring locals, summer residents, and tourists back time and time again. The business consistently gets strong online reviews and has continued to thrive despite COVID-19.

Financial

  • Asking Price: $679,000
  • Cash Flow: $50,642
  • Gross Revenue: $728,756
  • EBITDA: N/A
  • FF&E: $26,200
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: N/A

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:Yes
  • Building Square Footage:1,668
  • Lot Size:N/A
  • Total Number of Employees:5
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

1,668+/- SF building - kitchen, deli, and retail area. Outdoor seating in warmer months and plenty of parking for customers and staff.

Is Support & Training Included:

2 weeks

Purpose For Selling:

Other pursuits

Pros and Cons:

There are four competitors in the area, but none offer the full variety of food and convenience store items at the prices this business offers its customers. The current owner is constantly visiting different stores to see where there prices are at and make sure prices are comparable or lower.

Opportunities and Growth:

There are many ways to grow this business. Expanding hours and offering delivery service may allow for the potential to increase sales and perhaps entice new customers. Giving the building and property a facelift would be costly up front, but may offer more curbside appeal and draw in new customers as well.

Additional Info

The business has 5FT/4PT employees and resides in a building with approx. square footage of 1,668 sq ft.

Why is the Current Owner Selling The Business?

There are all types of reasons why individuals resolve to sell companies. Nonetheless, the true factor vs the one they say to you might be 2 completely different things. For instance, they may claim "I have way too many other responsibilities" or "I am retiring". For numerous sellers, these factors are valid. But also, for some, these may just be reasons to attempt to conceal the reality of altering demographics, increased competition, current reduction in profits, or an array of other reasons. This is why it is very essential that you not depend totally on a seller's word, but rather, utilize the seller's response together with your total due diligence. This will paint a much more practical picture of the business's existing circumstance.

Existing Debts and Future Obligations

If the current company is in debt, which lots of businesses are, then you will certainly need to consider this when valuating/preparing your offer. Many companies finance loans so as to cover things like supplies, payroll, accounts payable, and so on. Keep in mind that occasionally this can suggest that earnings margins are too small. Numerous businesses fall into a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may also be future commitments to consider. There might be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with vendors that should be satisfied or may result in fines if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Just how do operating businesses in the location draw in new consumers? Many times, operating businesses have repeat consumers, which develop the core of their daily earnings. Specific elements such as brand-new competition sprouting up around the location, roadway building, and staff turnover can impact repeat consumers and negatively impact future revenues. One important thing to take into consideration is the location of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Undoubtedly, the more people that see the business often, the better the possibility to construct a returning client base. A last idea is the general location demographics. Is the business situated in a largely inhabited city, or is it situated on the edge of town? Exactly how might the neighborhood mean house income effect future income prospects?