TYPE OF BUSINESS: This is a c-store located in an extremely busy mall in the Twin Cities. It has an outstanding location in the mall. Business has been established since 1992, with the current owner since 2000. The store sells convenience goods, daily essentials and refueling coffee, snacks and beverages. The store hours are 8:30-9:30, Monday-Saturday and 9:30-7:30, Sunday. The owner works the business from 7:30 to 3:30 5 days a week, taking Saturdays and Tuesdays off. There is tremendous potential to grow this business.
FACILITIES: The business occupies 500 square feet. Annual rent is about $115,000.00. A qualified Buyer can obtain a long-term lease.
EMPLOYEES: The business operates with 3 regular, part time employees (they have been with business for 15, 8 and 1 years). Owner states that they are good and very reliable. They are basically paid minimum wage. They each work 25-30 each week. They have another employee available if needed.
GROSS SALES/CASH FLOW: Gross sales for 2014 were $601,005; 2013 were $553,818 and 2012 were $567,799. Cash flow to an owner operate is about $95,000.00 annually.
ASKING PRICE: The asking Price is $250,000, includes $22,000.00 of inventory at cost, plus furniture, fixtures and equipment valued at $100-$150,000.00. Note: It is anticipated that the landlord will require the new owner to do some remodeling of the space within 1 year of ownership. Estimated costs are $60-$80,000.00.
REASON FOR SALE: Retirement.