REDUCED! The Freshest Catch in TN is from these two seafood markets!

TN

Freshest catch in TN

Asking Price:$249,900

Cash Flow:$88,874

Gross Revenue:$541,751

EBITDA:N/A

FF&E:$81,625

Inventory:N/A

Established:8

REDUCED! The Freshest Catch in TN is from these two seafood markets!

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Business Description

Shuttling fresh domestic gulf seafood to two seafood markets, one in Middle Tennessee and the other in West Tennessee, has exploded the family legend started in Florida in the 1950s.

Walking into either market feels like being transported right onto 30A in Florida, where the options are endless and exactly to your taste. Counters welcome customers with row after row of fresh crab legs, shrimp, scallops, fish, and even pints of oysters that rival any "fresh" shucked that a nearby might grocer might be promoting.

Each store was relocated to higher traffic locations within the last months: annualizing returns from first quarter 2016, we can project the Middle TN store's cash flow to almost double the 2015 figure. West TN store's cash flow looks to improve in the neighborhood of 175%. Thus, 2016 cash flow for both stores should be well over $150k.

Stores are available individually or together:

1) Middle Tennessee asking price: $152,000, includes FF&E of $47,800 (coolers / display cases / scales / equipment / freezers etc.)

2) West Tennessee store: $122,000 includes FF&E (ditto above) of $33,825.

3) OR both stores (and all FF&E) for $249,900.

Detailed Information

Employees:
4
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
West Tennessee: 1100 sf foot store in a high-traffic location, on one of the main arteries of this mid-sized West Tennessee city. Lease is month-to-month with option to renew. Middle Tennessee: 1400 sf foot store, in a idyllic Middle Tennessee community, on a busy main street that runs right past the country club, through the heart of downtown. Lease runs through December 2016- option to renew.
Competition:
Renowned as the freshest catch from the gulf in two Tennessee locations for many years, no other grocery positioning itself as exclusively a seafood market offers a more extensive selection of the freshest available. Local groceries' imports come in once/week.
Growth & Expansion:
Events / specials posted on Facebook often result in sell-out. Stores feature some cooked food and events on-site, but the owners also cater- another opportunity for expansion. There are few in-store processed product offerings: rubs, seasonings etc., currently, so the development of branded products under the strong name (available with purchase) might be another opportunity. Multi-generational fan base, growing every day. Current marketing is all digital- Facebook sites have been very successful- West Tn store FBook site has almost 5,000 'Likes', Middle TN store FBook site almost 10,000 'Likes'.
Support & Training:
Owners will remain for a negotiable period of training and transition. Furthermore, the owners currently make twice-weekly runs to the coast for the inventory- they will continue to be involved– proposing to deliver the seafood the stores as they currently do, at the same cost shown in their financials today.
Reason for Selling:
more time with family

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William Oates

Business Listed By:
William Oates

Alliant Capital Advisors LLC

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Sponsoring Broker:
Bill Marrero

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