Brooklyn Food Market Liquor and Lotto FMKT181

Price: $199,900

Location: Kings County, New York

Industry: Food Market

Listing ID: FMKT181

Solid business opportunity for this successful, food market with a yearly gross income of $685,000 and a consistent net yearly income to the present owner operator. This market offers, food, lotto, retail liquor, cigarettes, and accepts food stamps. Since 1975, they have been fully engrained in the fabric of their Brooklyn New York Community. Their location enjoys a remarkably loyal following, which is no surprise; based on their products, pricing, service, and the pride in every aspect of their business. Their goal is to remain a favorite neighborhood food market and caterer of choice by offering the highest quality foods and hard-to-find products supported by friendly, personalized, efficient 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

Listing Details

Revenue: $685,000

Cash Flow: $85,000

FFE: $89,000 (Included in Price)

Form of Ownership:

Corporate

Terms and Conditions?:

seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral, and credit rating.

Reason For Sale:

The sale is due to the owner is relocating out of the state of New Jersey.

Training & Support:

Due to the style of business the owner will remain after-closing and is prepared to supply an appropriate transitional period to the new owner / operator.

Operation

Year Established: 1986

Year of Last Acquisition: 2010

Days & Hours of Operation: This successful food market business operation is active seven days per week, with hours from 9:00 am to 10:00 pm.

Owner Hours Per Week: Full time.

Non-Owner Payroll: $8,300

Employees: Six employees

Summary

Owner Qualifications:

As to any food industry this business requires various government licensing approval to operate which included city food handlers’ license.

Competition:

Although competitors presently exist in the industry, 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:

This business opportunity food market has a limited marketing system, no delivery, no web site and if improved can further develop the business yearly gross sales.

Financing/Terms:

Owner financing based on a five year term at 6% interest.

Ron Cervelli

contactus@regalconsultants.com

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