Listing ID: 83411
This business was founded in 1947 and has been in continuous operation since that time.
Located directly on US Route 1, it has tremendous exposure for both locals and tourist alike.
Their liquor sales draw customers from quite far away as no other stores in the area will place custom orders. Some are driving 90 minutes to get their favorite libation. The store also has a special ATF License that allows them to resell alcohol to local restaurants.
There is a deli section that features freshly made sandwiches, baked good and a large variety of drinks. There is a small grocery section, a dedicated wine selection as well as camp supplies for those summer visitors.
The store recently closed down its can & bottle redemption center, leaving roughly 1,633 square feet of space vacant. The possibilities are endless. Consider a restaurant, additional retail space, living quarters or even renting it out to a tenant for storage.
The land area is about 7.25 acres with a very large frontage on US Route 1, which seems ripe for development. The real estate is not included in the purchase price. The final price of the real estate will be determined by appraisal. It is assessed (not appraised) at $232,790.
The seller will remain for a negotiable period of time in order to aid in the transition.
*Confidential Listing, Not located in zip code indicated*
- Asking Price: $275,000
- Cash Flow: $124,597
- Gross Revenue: $1,189,194
- EBITDA: $124,597
- FF&E: N/A
- Inventory: $130,000
- Inventory Included: N/A
- Established: 1947
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:5
- Furniture, Fixtures and Equipment:N/A
Seller will remain for a negotiable period of time to aid in transition.
Has approximately 1,633 square feet of vacant space, possibilities are endless.
The company was started in 1947, making the business 75 years old.
The sale won't include inventory valued at $130,000*, which ins't included in the suggested price.
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals resolve to sell operating businesses. Nevertheless, the true reason and the one they say to you may be 2 totally different things. For instance, they might say "I have a lot of other commitments" or "I am retiring". For lots of sellers, these factors are valid. But also, for some, these may just be excuses to attempt to conceal the reality of transforming demographics, increased competition, recent reduction in incomes, or a range of other reasons. This is why it is very crucial that you not depend absolutely on a vendor's word, however instead, use the vendor's answer together with your overall due diligence. This will paint an extra sensible picture of the business's existing scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous businesses are, then you will have reason to consider this when valuating/preparing your offer. Numerous operating businesses finance loans with the purpose of covering items like supplies, payroll, accounts payable, etc. Remember that sometimes this can indicate that profit margins are too tight. Numerous companies fall under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may likewise be future commitments to think about. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with suppliers that need to be met or may cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location attract brand-new customers? Often times, companies have repeat customers, which form the core of their daily revenues. Certain elements such as brand-new competitors sprouting up around the area, road building, and also staff turnover can influence repeat consumers as well as adversely influence future incomes. One crucial 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? Certainly, the more individuals that see the business often, the greater the opportunity to build a returning client base. A last idea is the general area demographics. Is the business situated in a densely inhabited city, or is it situated on the outskirts of town? Just how might the regional average house income effect future revenue prospects?