13 Yr Old Market & Deli on Busy Denver Corner. Many Ways to Grow

Denver, CO (Denver County)

Seller Financing Available
13 Yr Old Market & Deli on Busy Denver Corner. Many Ways to Grow
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Asking Price: $350,000

Cash Flow: $139,000

Gross Revenue: $1,170,000

EBITDA: $139,000

FF&E: $21,500

Inventory: $20,000

Rent: $3,750 /Month

Established: 2006

13 Yr Old Market & Deli on Busy Denver Corner. Many Ways to Grow

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Business Description

Full Liquor License, Repeat Customers, Fun to Own, Great Location

2018 had earnings of 139,589 on revenues of 1.17M. This company made 152K in 2017 on 1.27M.

There are many easy ways to increase both the top and bottom line for this business. The market used to be open six days a week Mon-Sat but for quality of life reasons, owners closed on Saturday which was a profitable day for the business. Owners also decided to close at 6PM, again for quality of life. There is much potential to pick a niche (like pizzas or even fine dining) for evening business to drive sales and profits. There is a high-rise apartment directly above the market with over 350 apartments with many thousands more within blocks of their location. Plus, the new owner can also expand sales by adding new products.

The owners are a husband and wife team whom opened this store in 2006. They started it as a gourmet market with gourmet meats and cheeses and evolved it into more of a semi-gourmet Deli and breakfast/lunch/catering place that offers high quality basic foods and drinks. They also have a full liquor license. After 20 years, owners are ready to move on to next phase in their lives and believe the store needs new energy after 20-years with same ownership.

This business is location driven with a well below market lease with 8 years left on it. This business will not change after the sale based on their reputation and location. They have mostly repeat customers. This is a fun business to own and to work at. The owners have met many great people over the years that they get to see almost every day.

The sales price is 350K plus their cost of inventory which is currently around 20K and varies from month to month. The seller is willing to carry 10% of the purchase price for a qualified buyer. This should qualify for a bank loan with the buyer contributing 75K which is the estimated down payment of 15% for the banks plus working capital.

Brief Overview and Deal Points:

They have one of the best locations in the State of Colorado. This means a lot of traffic and people walking around day, night, and over the weekends. They have 4 registers to keep up with the demand for lunch in particular. They also have seating inside for approximately 40 and outside on the mall for around 20. The store has security cameras and plenty of storage. The store is also very good looking and offers a lot of choices for lunch and breakfast will both grab and go and a traditional deli set up.

The store opens at 7AM and closes at 6PM 5 days a week. The new owner needs no specific experience and can transfer the liquor license. The current owners have created many recipes for baking goods, soups, and other items that are popular and come with the business. They serve these both over the counter and as a grab and go out of their refrigerated cases.

Marketing and Growth Potential: This is a great opportunity for new owners to put their personality on this by adding to what they offer and by expanding the hours. The new owner should be open on Saturdays which was a profitable day for the business. They also decided to close at 6PM during the week. The new owner should stay open later because the owner believes the market will make a lot of money selling pizzas and/or other dinner items. The new owner can also expand by adding new products for sale. They do considerable business catering but not outside of downtown or on the weekends which could be expanded also. They don’t do any traditional outgoing advertising like newspaper, radio, or mailers, just walk-ins, some social media and the website. Plus, they have a soft serve ice cream machine they don’t use which could bring in a lot of new business also.

They now offer their customers the ability to order online and just pick their orders up without waiting. They have 15 employees who are all hourly with one employee who has been their almost twenty years since the opening. The owners believe there will be no issues in the transition.

Their location is a little over 5,000 square feet and is 2 years into a 10 year lease extension at $9/square foot + triple net which is an unbelievable rate for their location. They have a great set up including a small 2nd floor where they have an employee area, 2nd office, extra storage, etc. The main floor is almost 4,500 square feet with more than half of it for customers and inventory.

Thank you for your consideration.

Sincerely,

Jeff Chapman Eisnaugle

This is prepared by Business Broker Colorado, LLC with Company Broker Group, LLC being the managing broker with information provided by the Seller. It was not created by the seller and neither the Broker or the Seller are responsible for its accuracy. Buyers are responsible for their own due diligence. Neither the Broker or the Seller will indemnify or guarantee any forward looking statements or projections. The information contained in this e-mail message is confidential and may be protected from disclosure. Please be aware that any other use, printing, copying, disclosure or dissemination of this communication may be subject to legal restriction or sanction. If you have received this e-mail message in error, please reply to the sender and delete it from your computer.

Different Brokerage relationships are available which include Seller agency, buyer agency, or transaction – brokerage.

Brokerage disclosure to Buyer or Tenant of Property. Definition of working relationships.

Seller's Agent: a seller's agent works solely on behalf of the seller to promote the interests of the seller with the utmost good faith, loyalty, and fidelity. The agent negotiates on behalf of and ask as an advocate for the seller. The seller's agent must disclose to potential buyers all adverse material facts actually known by the seller's agent about the business/property. A separate written listing agreement is required which sets forth the duties and obligations of the broker and the seller.

Buyer’s Agent: a buyer’s agent works solely on behalf of the buyer to promote the interests of the buyer with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of an accident advocate for the buyer. The buyer’s agent must disclose to all potential sellers all adverse material facts actually known by the buyer’s agent, including the buyer’s financial ability to perform the terms of the transaction. A separate written by a Buyer agreement is required which sets forth the duties and obligations of the broker and the buyer.

Transaction broker: the transaction broker assist the buyer or seller or both throughout a real estate transaction by performing terms of any written or oral agreement, fully informing the parties, presenting all offers and assisting parties with any contracts, including the closing of the transaction, without being an agent or advocate for any of the parties. A transaction-broker must use reasonable skill and care and the performance of any oral or written agreement, and must make the same disclosures as agents about all adverse material facts actually known by the transaction – broker concerning the property or a buyer's financial ability to perform the terms of a transaction and whether the buyer intends to occupy the property. No written agreement is required.

Business Broker Colorado, LLC and Company Broker Group, LLC, and Jeff Chapman Eisnaugle will be operating solely as a “Seller Agent” in all transactions.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
5,000
Lease Expiration:
N/A
Employees:
15
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Their location is a little over 5,000 square feet and is 2 years into a 10 year lease extension at $9/square foot + triple net which is an unbelievable rate for their location. They have a great set up including a small 2nd floor where they have an employee area, 2nd office, extra storage, etc. The main floor is almost 4,500 square feet with more than half of it for customers and inventory.
Competition:
They have one of the best locations in the State of Colorado. This means a lot of traffic and people walking around day, night, and over the weekends. They have 4 registers to keep up with the demand for lunch in particular. They also have seating inside for approximately 40 and outside on the mall for around 20. The store has security cameras and plenty of storage. The store is also very good looking and offers a lot of choices for lunch and breakfast will both grab and go and a traditional deli set up.
Growth & Expansion:
There are many easy ways to increase both the top and bottom line for this business. The market used to be open six days a week Mon-Sat but for quality of life reasons, owners closed on Saturday which was a profitable day for the business. Owners also decided to close at 6PM, again for quality of life. There is much potential to pick a niche (like pizzas or even fine dining) for evening business to drive sales and profits. There is a high-rise apartment directly above the market with over 350 apartments with many thousands more within blocks of their location. Plus, the new owner can also expand sales by adding new products.
Financing:
10%
Support & Training:
They will stay as long as needed
Reason for Selling:
Wants to spend more time with family
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Jeff Chapman Eisnaugle

Business Listed By:
Jeff Chapman Eisnaugle

Business Broker Colorado

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