Listing ID: 83446
•5,676± SF retail building for sale along with the business of Jerry’s Market. Three bedroom apartment on the 2nd floor.
•Jerry’s Market is a local meat market/grocery store close to downtown Sanford. This April will be its 75th year anniversary.
•Well known within the Southern Maine community, its known for its fresh food, artisan meats, knowledgeable staff, a great selection and a convenient location!
•See Broker for Financials. CA required.
- Asking Price: $1,950,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people decide to sell operating businesses. Nevertheless, the true factor vs the one they tell you may be 2 totally different things. As an example, they may state "I have too many other commitments" or "I am retiring". For numerous sellers, these reasons stand. But also, for some, these may simply be justifications to attempt to hide the reality of transforming demographics, increased competitors, current decrease in profits, or an array of various other factors. This is why it is really essential that you not depend completely on a seller's word, but rather, utilize the seller's answer along with your overall due diligence. This will paint a more practical image of the business's existing situation.
Existing Debts and Future Obligations
If the current entity is in debt, which numerous companies are, then you will certainly need to consider this when valuating/preparing your deal. Numerous operating businesses finance loans so as to cover things like supplies, payroll, accounts payable, etc. Remember that in some cases this can suggest that revenue margins are too thin. Many organisations fall into a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future commitments to take into consideration. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with suppliers that have to be met or may cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location bring in new clients? Many times, companies have repeat customers, which develop the core of their day-to-day earnings. Particular variables such as brand-new competition sprouting up around the location, road building and construction, and also employee turnover can impact repeat clients and negatively influence future earnings. One important thing to take into consideration is the location of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Certainly, the more individuals that see the business often, the greater the chance to develop a returning customer base. A final thought is the general area demographics. Is the business placed in a largely populated city, or is it situated on the outside border of town? Just how might the local typical family earnings influence future income prospects?