Listing ID: 83888
Here’s a well-established, live-in convenience store in the heart of the north woods. The store consists of approximately 3000 sq ft of retail space offering some grocery, snacks, bait/tackle, gas, and a wide variety of tools, parts, nuts & bolts, plumbing parts, electrical parts, and more! This little store serves a wide area of rural lake home/cabin owners on Bowstring, Sand, Jessie, and many other small lakes as well as the surrounding area. The property also includes an approximately 1700 sq ft living space with 4 bedrooms, 2 baths and attached 4+ stalls of garage space. Business has been good and with the influx of people moving to the area, it’s a great time to buy!
- Asking Price: $499,900
- 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:4,848
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
This Business Is Home Based
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals resolve to sell companies. However, the true reason and the one they tell you may be 2 entirely 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, for some, these may simply be justifications to attempt to hide the reality of transforming demographics, increased competition, current reduction in profits, or an array of various other factors. This is why it is extremely crucial that you not count completely on a vendor's word, yet instead, utilize the seller's answer combined with your total due diligence. This will repaint a much more practical picture of the business's current scenario.
Existing Debts and Future Obligations
If the existing entity is in debt, which lots of businesses are, then you will have reason to consider this when valuating/preparing your offer. Numerous operating businesses borrow money so as to cover points such as inventory, payroll, accounts payable, and so on. Bear in mind that sometimes this can suggest that earnings margins are too thin. Numerous companies 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 obligations to consider. There may 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 fulfilled or may cause fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area draw in brand-new consumers? Many times, operating businesses have repeat clients, which develop the core of their day-to-day revenues. Particular variables such as brand-new competitors growing up around the location, road building and construction, as well as personnel turn over can affect repeat clients as well as negatively influence future incomes. One important point to think about is the placement of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Undoubtedly, the more people that see the business regularly, the higher the opportunity to develop 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 edge of town? How might the regional average household earnings impact future earnings prospects?