Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Franchise Convenience Store
(Food and Bevergae , Retail )
Ocean County, NJ
Listed Price: $ 379,000
Listing ID: CSTR202

Listing DetailsGross Revenue: $ 2,036,560
FFE: $ 180,000 (Included in Price)
Franchise Info: This business is an established franchise
Reason for Sale:

The owner is relocating.


Training & Support:

The present owner is absentee and will supply appropriate training, additionally the franchise will require two weeks of training at the franchise headquarters out of the state of New Jersey.


OperationsYear Established: 2016
Days & Hours of Operation: Mon.-Sun. 5am-11pm
Non-owner Payroll: $ 8,900
Employees: 6
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 25000
Monthly Rent: $ 11,040
Square Footage: 2000
Facilities:


This high-volume retail facility which consist of approximately 2,000 square feet with an attractive and modern appearance. The business is a corner property and consists of a free-standing building in a commercial area with many other active and successful businesses. This opportunity is in Central New Jersey, Ocean County, which consists of various densely populated communities with continued demand for this industry.


SummaryBusiness Description:

A wonderful business opportunity for this long standing and highly successful franchise retail convenience store in a wonderful area of central New Jersey, Ocean County. The business has a 2018 gross yearly income of $2,036,560 and a consistent net yearly income to the present absentee owner which can be substantially be improved with an onsite owner operator. The business is fully computerized consisting of a state-of-the-art POS system. The company also has a very profitable Lotto net income of approximately $11,000. This company has six full / part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $8,900. The business has an assignable commercial lease which expires 2025-01-01, plus additional options, with a monthly rent of $11,040 all in, cost per square foot is estimated at $66. and rent security of approximately $25,000, 3% yearly rent increases. This convenience deli business operation is active seven days per week, with hours from 5:00 am to 11:00 pm. The business has been valued / priced at $379,000 based on a multiple of the net yearly income which includes the value of the specific business assets. Transfer franchise fee is approximately $25,000, also, seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. 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:

To the best of our knowledge, due to various circumstances, 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 presently has a limited marketing plan with an absentee owner, if the new operator will be an onsite owner operator the business can be further develop the business yearly gross sales. This site is also approved for a Chicken franchise business with high projected sales.


Financing/Terms:

May be considered to a qualified buyer.