Produce Wholesale Business $15,708 Net Profit Last Month Owner Finance

Miami, FL (Miami-Dade County)

Seller Financing Available
Florida Keys Produce Delivery
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Asking Price: $288,000

Cash Flow: $150,000

Gross Revenue: $800,000

EBITDA: $150,000

FF&E: $15,000

Inventory: N/A

Established: 2013

Produce Wholesale Business $15,708 Net Profit Last Month Owner Finance

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Business Description

Less than 2x multiple

This business deliveries wholesale produce to restaurants, grocery stores, zoos, hotels, etc (90% restaurants) along the path from Miami to the Florida Keys. Restaurants order cases of lettuce, onions, peppers, mushrooms, spring mixes, dairy, and a large list of other products daily.

The business has a driver in place and can be ran by the owner with only 4-5 hours/day of work in the early morning picking and loading the produce. With the current state of this business you will make $150,000+/year working part time for less than a 2x multiple and only 50% needed up front, you'll have a difficult time finding a better business deal on the market and it's likely this opportunity won't last long.

Initially the business was purchased from a previous owner February of 2018, prior to that the business had 6 years of operational history. After purchase new ownership hit the grown running with nothing but growth in mind, and rapidly expanded the business from 10 customers to 50+ customers in 6 months. The business's revenue and profit has doubled since acquisition and the sales process is easily trainable to continue the growth & expansion.

With the purchase of this business not only are you getting a solid business that does a service that hundreds of restaurant establishments need in the Florida Keys every day, you are also buying the equipment & labor in place to keep the business operational and everything we've learned about how to double the business again in the next 12 months if you desire.

Sales are at well over $800,000/year (we've done $750,000 over the last 12 trailing months, and the number will keep increasing for the next 3-4 months since all growth efforts were put in through October of 2018).

Profit margins are running at 23%.

Total expenses are roughly $4,000/month which are composed of a driver salary, gas & insurance for the delivery vehicle, and software (accounting, website, etc).

Net income is over $150,000/year (we've done $150,000 over the last 6 months averaged out and extrapolated to a 12 month average - again since the first 6 months were the 'expansion' phase (for example last year March 2018 net income was $9,431, this year March 2019 net income was $17,665) June, July, September, October should all also be higher than last year by a significant amount. Sales & growth efforts stopped October 2018 as we took over the driving position ourselves for a few months.

3x multiple on income would put this business at a fair market valuation of at least $456,000 to buy it. The reason for displaying a 3x is because this income is with the owner only needing to work part time in the business to keep it running, and because of the proven growth opportunity if new ownership desires it (this is not like buying a gas station at a 2-3x where the income is capped). You have the ability to go out and grow it as much as you want, just like we have proven and we'll give you the process that we used to do it.

The asking price is set to $288,000 to buy the business to put it at a less than 2x to make the business even more attractive, since we'd like to start traveling soon.

Owner financing is an option with 50% down.

All sales numbers can be proven, there is no cash in this business, everything is shown with checks hitting the bank account, and everything is recorded in our accounting software with images of all checks to prove income.

Detailed Information

Location:
Miami, FL
Employees:
2
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This business as it is run right now only needs a delivery vehicle to manage, there is no need for a warehouse or inventory we pay vendors to manage that. However there is the potential to slash a solid 10%+ of the cost of goods if you wanted to set up your own warehouse and inventory management. (Home Based)
Competition:
The market this business operates in right now is the Florida Keys, from Key Largo to Marathon. There is incredible growth potential to expand down to Key West. We've doubled the business since we bought the route over a year ago, and this business can definitely be doubled again by going to Key West.
Growth & Expansion:
Pros: Huge growth potential by expanding the route down to Key West. This would more than double the business revenue and profit. We've proven the sales process of expansion as we've grown the route from 10 to close to 50 customers in just 6 months after purchasing the initial route. This growth continued organically for the last 6 months and the revenue and profit are being proven to have doubled. Cons: You'd need a second vehicle and driver to do any expansion. Our current vehicle costs $350/month on finance (included debt free to you).
Financing:
Owner financing is available with 50% down.
Support & Training:
30 days included.
Reason for Selling:
My significant other and I want to start traveling internationally.
Home-Based:
This business is Home-Based
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Business Listed By:
Travis Beaulieu

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