Convenience Store (R/E Available)

Hartford County, CT

Convenience Store (R/E Available)

Asking Price:$159,000

Cash Flow:$100,788

Gross Revenue:$427,860

EBITDA:$100,788

FF&E:$50,000

Inventory:$25,000*

Established:1960

*not included in asking price.

Convenience Store (R/E Available)

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Business Description

Business is a long established convenience store of about 1,500 sq.ft. with annual sales of about $430,000 including strong lottery commission income of about $60,000. Owner runs the business with his wife and one part-time employee. Business serves a safe, upscale neighborhood. The real estate of land and building encompasses about 15,000 total square feet including the building of about 3,000 sq. ft. which includes the store and two separate rental apartments and a large parking lot for about 10 cars. The real estate is available as a three-year lease option transaction for $350,000 subsequent to sale of the business. Some renovation work on the building would be productive, coincidental with the decision to expand the food service area including, possibly, a kitchen. The product line includes the customary convenience items of coffee, milk, bread, snacks, soda, beer, chips, canned foods, frozen foods, nearly everything consumers look for in a quick stop location.. The deli area is not presently in operation. It needs to be re-established and enlarged to take advantage of the sales opportunity. Customer demand is readily apparent. There is no immediate competition in convenience items or deli items as this location is surrounded by single family homes. It is quite unique in this regard. Inventory of about $25,000 is not included in the purchase price. Some seller financing may be available subject to certain conditions.

Detailed Information

Inventory:
Not included in asking price
Employees:
2
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
As a former Dairy Mart this facility was professionally established many years ago to serve a single family neighborhood with convenience items and a small sandwich deli. The deli is not in operation today. The facility was originally a residential home converted to a retail store and has two rental apartments along with the store. The current owner owns both the business and the real estate. Total square footage of the building is about 3,000 square feet on land totaling about 15,000 square fee with a large parking lot. There is room for expansion of the building on the property, possibly to install a kitchen to expand the prepared takeout food area.
Competition:
There is no immediate convenience store competition in the area. The business is surrounded by single family homes and this is the main reason for its success. The store was originally a Dairy Mart. Store enjoys lucrative lottery commission revenue.
Growth & Expansion:
For a convenience store to reach full potential, a store of this type should provide a good deli section. At one time the owner had an operating deli but over the years discontinued it. This should be re-established because the customers are there on a daily basis.
Support & Training:
Owner will provide the necessary training to purchaser and usually two weeks for this type of business should be sufficient.
Reason for Selling:
Seller has owned and operated the business for 20 years.

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Bob Capozzi

Business Listed By:
Bob Capozzi

VR Business Brokers/Venture Group Partners

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