Listing ID: 83930
Great Liquor Store and Property in Genesee County, City of Flint. Business established in 1982 and seller has been operating business since. Time to retire and pass the baton! Business has many opportunities to increase sales and profits. Although, keeping it simple has value too. Store has two lottery machines and year to year sales on the increase, lottery commissions of $50k annually and increasing. Business operating on short hours due to covid 19 and still projected to do over $1.1 million dollars in sales.
Property has a rental unit that brings in $1,100/ month with Long term tenant, a well-known tax service. Property has great value for future added expansion. Property has great parking and can accommodate plenty of customers during busy hours. If gas station is in your future, this property will be idea, “GAS STATION WITH LIQUOR BEER AND WINE”.
- Asking Price: $699,000
- Cash Flow: $175,000
- Gross Revenue: $1,100,000
- EBITDA: N/A
- FF&E: $80,000
- Inventory: $120,000
- Inventory Included: N/A
- Established: 1982
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:4,122
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
Price includes building and approximately one acre property.
Seller will stay on and help in training.
Property situated on main street with many nationals in the area. Over 23,000 VPD
Great potential to expand business and building, property has many options for expansions and even adding a gas station.
The business was started in 1982, making the business 40 years old.
The transaction won't include inventory valued at $120,000*, which ins't included in the asking price.
The company has 4 employees and is located in a building with disclosed square footage of 4,122 sq ft.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals decide to sell companies. Nonetheless, the true factor vs the one they tell you might be 2 entirely different things. For instance, they might say "I have a lot of other obligations" or "I am retiring". For many sellers, these factors stand. But also, for some, these might just be excuses to try to conceal the reality of altering demographics, increased competition, current decrease in profits, or a range of other factors. This is why it is extremely important that you not depend totally on a seller's word, yet instead, make use of the seller's answer in conjunction with your overall due diligence. This will paint a much more realistic image of the business's existing circumstance.
Existing Debts and Future Obligations
If the current entity is in debt, which lots of businesses are, then you will certainly need to consider this when valuating/preparing your offer. Lots of companies borrow money so as to cover items like supplies, payroll, accounts payable, and so on. Keep in mind that occasionally this can imply that earnings margins are too tight. Lots of businesses fall under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may additionally be future commitments to consider. There might be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with suppliers that must be met or may result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the area draw in new consumers? Often times, operating businesses have repeat consumers, which form the core of their day-to-day profits. Certain factors such as new competitors growing up around the area, roadway building, and staff turn over can affect repeat consumers and also negatively affect future incomes. One essential thing to think about is the area of the business. Is it in an extremely trafficked shopping center, or is it hidden from the main road? Undoubtedly, the more individuals that see the business on a regular basis, the greater the chance to build a returning customer base. A final thought is the basic location demographics. Is the business placed in a densely inhabited city, or is it located on the outskirts of town? Just how might the regional median household earnings impact future earnings potential?