High Volume/Profit C-Store - semi-absentee owner 17785 For Sale

Business description

Established 20+ years, this wet convenience store has a loyal customer base. Sales & profits are increasing monthly and annually. The business is easy to operate and can be expanded. During the past 5-6 months, the semi-absentee owner averaged 20 hours/week (1-2 hours/day for paperwork/ordering + covering employees when they want a day off). The owner maintains detailed sales/expense records. Owner to prove all sales and expenses. The seller represents that, during 2007, he netted approximately $140,000+. 2008 is ahead of 2007 by ~10-15%. Sample Gross sales growth: $49,419 June 2006, $50,236 June 2007, $56,225 June 2008. June 2008 NET INCOME was approximately $14,600. Lotto sales were approximately $54k/yr in 2007.

Property information

Real Estate:

Lease

Location:

Business is located in a leased strip center on a busy street serving ~800+ local apartments, trailer parks, commuters and businesses. 2000+ SF space is leased for $2179/month incl NNN with NO increases through May 2021 (13 years!). The seller represents that, during 2007, he netted approximately $140,000+. 2008 is ahead of 2007 by ~10-15%.

Other information

Expansion potential:

This is a strong location with excellent potential for a single owner or family operation. Reason for Sale - relocation overseas. A new owner can continue to grow the business in several ways: 1) Add check-cashing service 2) Add ATM machine 3) Add money orders 4) Provide hands-on friendly service 5) Add fast food grill eg hamburgers, fries 6) Add drive-thru service 7) Add Gas pumps

Competition / Market:

There are local c-stores, fast-food restaurants and grocery stores. However, customers continue to shop HERE!

Support & training:

Negotiable. 2-4 weeks is normal. Seller will provide on-site training after purchase, assist in securing retention of employees and transfer of supplier relationships, provide on-call telephone assistance after completion of training and sign a no competition agreement.

Reasons for selling:

Relocation

Furniture / Fixtures value:

$50,000

Inventory / Stock value:

$35,000 (included in the asking price)