Business For Sale Listing 143707
Country Market & Restaurant
Status as of Sep-5-2008 at 06:00 PM: Active
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Business Summary
DESCRIPTION: This successful high-volume country store and restaurant is located in a growing area of the state. It has a key location at a busy intersection of routes that connect southern Maine to recreational areas in the northwestern part of the state. It is located in one of Maine's scenic lake and recreation areas. The store does over $2 million in annual sales with no gas sales. About 22% of sales are in higher margin restaurant and take-out foods with plenty of room for growth in that area. There is an inside seating area for 24 people. It has developed an excellent reputation for its products and services in terms of quality, pricing and selection. The market is the only agency liquor store in town and has the only mega-bucks machines. The sale includes the real estate and is suitable for a 1031 Exchange.
MARKET: The store's location at a busy intersection gives it exposure to high vehicle traffic. It is dominant in its market with a 50-60% market share. It is larger than its competition and has better selection and prices. Year-round residents, summer vacationers and winter sports enthusiasts make up the store's diverse and growing customer base. This area of Maine will continue to grow in both population and vacationers. Located on .54 acres of land, there is room to expand the store, add new products and develop new ideas. There is ample oven and food prep capacity to expand the catering operation, and the "home meal replacement" market.
FACILITIES: The store is located on a historic location with plenty of retail and storage space, ample parking and room for expansion. The market has about 2,400 SF of space plus a full basement. The lot is .54 acres and has 80 feet of frontage.
PRICE OF BUSINESS: $350,000
PRICE OF REAL ESTATE: $399,000
ANTICIPATED SELLER/BANK FINANCING ON BUSINESS: $200,000
ANTICIPATED BANK FINANCING ON REAL ESTATE: $320,000
TOTAL DOWN PAYMENT: $229,000
WORKING CAPITAL REQUIRED: $25,000
APPROXIMATE INVENTORY: $70,000
Categories
Industry
Location
Financials
| Sales: |
Between $2.5 Million And $5 Million ($2,600,000) |
| Profits: |
Between $100 Thousand and $500 Thousand ($115,000) |
| Profit Type: |
Seller's Discretionary Cash Flow (SDCF) |
| Fiscal Year: |
Proforma |
| Asking Price: |
Between $500 Thousand and $1 Million ($749,000) |
