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We are selling a busy Grocery store / kitchen at the heart of UBC campus. This store is so busy it pays for a manager to make over 50K per year working with only students and makes a large profit. We also operate as absentee owners of the store from another province.
Even during covid when classes moved online, the store still paid its manager and made a large profit.
Since students have been back to campus this year sales are 80% of what they were before Covid with no new advertising.
We are selling the store because we live in another province and with two children the traveling has become a strain.
The store includes:
Over 500K in leaseholds and equipment
A full kitchen upstairs in the mezzanine
Storage facility with walk in cooler
3 Pos systems and grocery store scanners under license
All accounting is done at arms length by an outside bookkeeper and accountant.
Our lease rate is one of the best in Vancouver and we currently have 3 years left in our term with a 10 year option to renew.
We also have the right of first refusal for the location beside us in the case you ever want to expand in the future.
For an owner operator the cashflow would be over $150K per year that can be verified by all financial records that are reviewed by 3 outside parties each year.
The corporation is also eligible for a $250K government guaranteed loan due to loss of sales during covid. This loan can be paid back for as long as 10 years and holds a fixed rate of 4%.
This will be a cash sale
We are not offering share ownership
We are not offering financing
Serious inquiries will be required to disclose access to a minimum of $250k before financial information is provided.
An NDA will also need to be signed to access more information after proof of funds are verified.
The lease is very favourable and will only be discussed with serious buyers.
This store is located in a new building on UBC campus. All maintenance and upkeep is completed by the University.
We have the right of first refusal for the location next to us.
We have a non competition clause for others on campus not to sell grocery items.
We live out of province and would like to travel less as we get older.
9-9 Monday through Friday
10-6 on weekends
We will work with the new buyers to familiarize them on all systems.
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