Business Overview

General stores provide nourishment, supplies, and a warm place to gather in villages across Maine. Nestled in the middle of a charming coastal village, this general store is truly the heart of the community. The store features a large, diverse inventory and a successful prepared foods and takeout business. The loyal local customer base, seasonal customers, and tourists all rave about the top-notch menu offerings, warm customer service, and community spirit.

The future owner(s) of this gem will benefit from the following:
• Great reputation for delicious food and unbeatable customer service.
• Strong emphasis on high-quality ingredients.
• Diverse offering and wide appeal.
• Established business with a very loyal local customer base.
• Seasoned and dedicated staff.
• Established online ordering and delivery system.
• Exciting list of growth opportunities.

Financial

  • Asking Price: $190,000
  • Cash Flow: $63,073
  • Gross Revenue: $1,537,800
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: Yes
  • Established: N/A

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:N/A
  • Building Square Footage:N/A
  • Lot Size:N/A
  • Total Number of Employees:13
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

The current owner wants the business to be a success for the new owner, its employees, and customers. As such is willing to assist in the training and transition of the business for a period not to exceed two weeks.

Purpose For Selling:

The owner is retiring.

Pros and Cons:

This business has no direct competitors and plays a vital role in its community.

Opportunities and Growth:

Suggested growth opportunities include building the delivery business, increasing catering contracts, possibilities for streamlining the inventory, and more. Complete list in brochure.

Additional Info

The business has 13 employees and is located in a building with approx. square footage of N/A sq ft.

Why is the Current Owner Selling The Business?

There are all types of reasons individuals choose to sell businesses. Nevertheless, the real reason vs the one they tell you may be 2 completely different things. As an example, they might claim "I have way too many various commitments" or "I am retiring". For numerous sellers, these reasons are valid. But also, for some, these might just be reasons to attempt to hide the reality of altering demographics, increased competitors, recent reduction in profits, or a range of other reasons. This is why it is very vital that you not rely totally on a vendor's word, yet rather, use the vendor's answer combined with your overall due diligence. This will paint a much more realistic picture of the business's present circumstance.

Existing Debts and Future Obligations

If the current business is in debt, which many companies are, then you will need to consider this when valuating/preparing your offer. Many companies finance loans in order to cover points such as supplies, payroll, accounts payable, so on and so forth. Remember that sometimes this can suggest that earnings margins are too thin. Lots of organisations fall under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may likewise be future commitments to take into consideration. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with vendors that must be fulfilled or may result in charges if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do companies in the location attract new clients? Most times, businesses have repeat clients, which develop the core of their everyday profits. Specific factors such as brand-new competitors growing up around the area, road construction, and employee turnover can affect repeat customers and also adversely affect future earnings. One essential point to think about is the location of the business. Is it in a highly trafficked shopping mall, or is it concealed from the main road? Undoubtedly, the more individuals that see the business often, the better the opportunity to build a returning customer base. A last idea is the general location demographics. Is the business located in a largely populated city, or is it situated on the outside border of town? Exactly how might the regional median family income impact future income potential?