Listing ID: 83768
Excellent opportunity to purchase a beautiful home and successful deli/bakery business all in one! Located on one of Lake City’s most popular streets, this property allows you to easily market your business. Keep it in food service or open a boutique–the opportunities are endless! The property conveniently includes a beautiful 3 bedroom, 2 bath living space that is meticulously maintained. The residential kitchen features custom cabinetry and tiled backsplash. Open dining/living room area with corner fireplace and updated vinyl flooring. Sip your morning coffee or relax with a book on the 3 season porch. The second level features spacious bedrooms and tons of built-in storage. The basement area is perfect for additional storage and the detached 2 car garage is heated. Your dream of opening your own business can now be a reality!
- Asking Price: $425,000
- 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
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:4,194
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
3 bed/ 2 bath home PLUS commercial space currently set up as a deli/bakery. Included in sale: all appliances, catering equipment, most kitchen (business) utensils and pots/pans--full list to come. (Home Based)
Sellers are willing to assist new owners for the first few months running the successful multi-generation business.
This is one of very few "quick" lunch stops in Lake City. Located on a main road makes it easy to advertise.
This Business Is Home Based
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people choose to sell businesses. Nevertheless, the real reason and the one they say to you may be 2 absolutely different things. As an example, they may claim "I have a lot of various commitments" or "I am retiring". For numerous sellers, these factors are valid. However, for some, these might just be reasons to attempt to hide the reality of changing demographics, increased competition, current decrease in profits, or an array of other factors. This is why it is extremely important that you not depend completely on a seller's word, however rather, use the seller's answer combined with your overall due diligence. This will repaint an extra practical image of the business's existing situation.
Existing Debts and Future Obligations
If the existing entity is in debt, which many companies are, then you will have reason to consider this when valuating/preparing your offer. Lots of operating businesses finance loans in order to cover items such as stock, payroll, accounts payable, etc. Remember that in some cases this can indicate that revenue margins are too small. Many companies come under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may likewise be future commitments to think about. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with suppliers that need to be satisfied or might result in fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the location bring in brand-new clients? Many times, businesses have repeat consumers, which create the core of their everyday profits. Specific variables such as new competition sprouting up around the location, road construction, as well as staff turn over can affect repeat consumers and also negatively impact future incomes. One essential thing to think about is the area of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Clearly, the more individuals that see the business on a regular basis, the better the opportunity to develop a returning consumer base. A final idea is the general area demographics. Is the business placed in a densely populated city, or is it situated on the edge of town? How might the regional median family income influence future revenue potential?