GNC Vitamin Retail Shop
(Retail )
Bergen County, New Jersey
Listed Price: $ 139,900
Listing ID: RETL326

Listing DetailsGross Revenue: $ 400,000
Cash Flow: $ 45,000
FFE: $ 75,000 (Included in Price)
Inventory: $ 35,000
Franchise Info: This business is an established franchise
Reason for Sale:

 

Seller’s ownership of an alternative business out of this specific area.

 


Training & Support:

The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, the franchise will supply additional training prior to closing.


OperationsYear Established: 2012
Employees: 3
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 8000
Monthly Rent: $ 4,550
Square Footage: 1850
Type of Location: Strip Mall
Facilities:

The retail facility is located in a Shoprite mall in an urban city with thousands of residents who require this food supplement product. The facility which consist of approximately 1,850 square feet has an attractive and modern appearance. The business is in a commercial mall with various other active and successful businesses. This opportunity is in Northern New Jersey, Morris County, which consists of various highly populated communities with continued demand for this product and industry.


SummaryBusiness Description:

Highly successful National retail franchise company which offers all types of supplements for better health including, vitamins, proteins, herbs, super foods, health foods and more. This business opportunity is in northern New Jersey, Morris County, in a ShopRite mall with many other successful companies. The business has a gross income of $400,000 and a net yearly income of $45,000 based on an onsite owner operator and prior to debt service. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. For Qualifications purposes, this industry does not require government licensing approval to purchase or operate other than the standard municipal licenses, however franchise approval is required. The retail facility is located in a Shoprite mall in an urban city with thousands of residents who require this food supplement product. The facility which consist of approximately 1,850 square feet has an attractive and modern appearance. The business is in a commercial mall with various other active and successful businesses. This opportunity is in Northern New Jersey, Morris County, which consists of various highly populated communities with continued demand for this product and industry.
This company routinely has three-part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $3,300. The business has an assignable commercial lease 3 + 3 year, which expires 2024-01-01, plus additional options, with a monthly rent of $4,565, cost per square foot is estimated at $29.18, and rent security of approximately $8,000. This seven-year-old retail business is in a commercial mall, on an active county road, consists of approximately 1,850 square feet and has an estimated capacity for fifty-five customers. The business fixed assets has an estimated value of approximately $75,000 which is based on equipment and licensing building / replacement cost. This transaction consists of a fully equipped commercial retail store, which includes, required licenses, web site, social media venues, displays, shelving, POS system, tables, computers, software including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate private mall parking on site as part of the commercial lease. This successful vitamin retail business operation is active seven days per week, with hours from 10:00 am to 8:00 pm. The sale includes all required documentation including a certificate of occupancy from the local municipality and the required state or city licenses to conduct its day to day business. The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, the franchise will supply additional training prior to closing.The sale is due to the seller’s ownership of an alternative business out of this specific area. The business is presently maintained as an absentee ownership, has a limited marketing plan, no local advertising, and basic web site. If corrected the operation can be further develop with improved yearly gross sales. The business requires an on-site owner operator to further improve. Regarding competition, due to the non-compete requirements with the franchise, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser. The 2017 yearly gross income is $400,000 plus discretionary income and the business has a yearly net income of approximately $45,000 based on an onsite owner operator and prior to any debt service. The business has been valued / priced at $139,900 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Also, seller / bank financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Additionally, franchise approval is required with a $11,000 transfer fee, 6% royalty and 3% advertising fee, inventory approximately $35,000. Broker recommends purchaser conducts a due diligence prior to closing. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity. 


Competition:

 

Regarding competition, due to the non-compete requirements with the franchise, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.

 


Potential Growth:

 

The business is presently maintained as an absentee ownership, has a limited marketing plan, no local advertising, and basic web site. If corrected the operation can be further develop with improved yearly gross sales. The business requires an on-site owner operator to further improve.

 


Financing/Terms:

Seller financing is avaiable to a qualifed buyer