Grocery Store w strong team and profits-reduced $54K seller motivated
Elmira, NY
| Asking Price: | $414,000 |
| Gross Revenue: | $5,400,000 |
| Rent: | $5,750/Month |
| FF&E: | $289,000 |
| Cash Flow: | $130,000 |
| Inventory: | $246,000 |
| EBITDA: | $102,000 |
| Established Year: | 2013 |
Listing ID: 2232274Listing provided by BizBuySell
BUSINESS DESCRIPTION
Seller motivated and open to offers!
This established limited assortment grocery store sells dry goods, dairy, frozen foods, fresh meat and produce and non-edible grocery products. They have a dedicated team who provide excellent customer service. With a national reputation for affordable grocery products with quality service, this successful licensee is also recognized by their community involvement and dedicated customers. Large growth opportunities include more online ordering and delivery via Instacart, Door Dash and Uber Eats.
DETAILED INFORMATION
Location
Elmira, NY
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
17,000
Lease Expiration
30/06/2028
Employees
22
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
The building is leased and in the third five-year extension of that lease. The landlord is responsible for building maintenance. Interior and exterior lighting and signage were updated to LED in 2022.
The seller has kept all equipment well maintained with constant preventative maintenance contracts and emergency maintenance as needed. They upgraded the majority of retail sales refrigeration equipment during a remodel in 2022.
No additional capital expenditures would be needed by a buyer.
Competition
The current customer profile is low-income families dependent on government benefits and lower middle-class people because of the store location and corporate’s targeted customer base. They are growing their middle class, professional customer segment because they have remodeled their store and using social media to target that sector of potential customers.
The geographic market is the zip codes in the city of Elmira and the surrounding area.
Growth & Expansion
Market to “fringe” customers and the advantages of their store and brand.
More products for upscale customers to attract them into the store.
More WIC and SNAP delivery business.
Expand on-line ordering and delivery services.
Financing
Seller is willing to finance a portion of the purchase price for a qualified buyer.
Support & Training
The owner will be happy to spend as much time as needed to make the new owner proficient and comfortable with their new business. The seller will also introduce the new owner to their valued suppliers and explain how his over 45-year successful tenure was achieved and how he thinks it can be grown.
Reason for Selling
Retiring
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