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Supermarket 10ksf Central Florida
| Asking Price: | $1,200,000 | Inventory: | $75,000 ** |
| Gross Revenue: | $2,000,000 (comments below) | Real Estate: | $650,000 ++ |
| Cash Flow: | $53,000 (comments below) | FF&E: | $350,000 ++ |
| ++ included in the asking price ** not included in the asking price | |||
| Gross Revenue Comments: Store sales have exceeded $4m with proper inventory | |||
| Cash Flow Comments: includes startup cost in Sept '08 | |||
This well-established, award winning 10Ksf, well-kept supermarket has served the rural community in Central Florida for more than 19 years. This store has a full line of groceries, meat, produce, health and beauty care and general merchandise as well as a fully equipped delicatessen, and barbeque pit. This store was purchased in 2008 and was completely painted, remolded and upgrading its entire refrigerated cases including the meat, frozen foods, dairy, produce and beverage case. They installed a complete POS scanning system and checkouts as well as a store monitoring system with 20 security cameras that can be reviewed through the internet. They added a large customer service center for secure merchandise as well as to provide additional services for their customers. The property is for sale along with the business and sits on approximately 2.5 acres with ample room to expand the building or to build out parcels for additional income. The town is in much need of a liquor store and the village has approved permitting for this market location. This community, surrounded by lakes, is a very quite area of the state. There are varieties of seasonal residents (snowbirds) that spend their winter months in this market area because of the close proximity of the large metropolitan cities that are all within 25 miles. This includes the world famous Walt Disney World attractions and resorts. Both the Atlantic Ocean and the Gulf of Mexico are within 70 miles from this rural community. This market could be very profitable for a new experienced owner/operator.
About the Business
Year Established:1990
Employees:4 full time - 4 part time
Facilities:This Market is a 10K sqft store with an adjacent 18,000 square foot un-developed parcel sitting on 2.53 acres of land with an extremely large parking area. The sales area of the Market is approximately 7,860 sqft and 3,200 sqft of backroom and storage space. A well-kept, fully fixtured and equipped Supermarket has had its refrigerated cases and operating system upgraded in 2008. This market has 36ft of multi-deck fresh meat cases, 8ft of lunch meats, 8ft of smoked meats, 48ft of produce, 48ft of dairy, 19 doors of frozen food, 16ft European style deli cases and 24ft of beer cases The building is A/C throughout including the storage areas and office spaces. It has 4 Fugitsu scanners in the front end of the store and a back office monitor and server. There is a complete security camera system with 20 cameras throughout the store. It is monitored and recorder through a PC located in the manager’s office and can be view anywhere through a secured internet.
Market Outlook and Competition:The major competitors for this Market are all located in adjacent towns that are at least 10 miles away. This community has supported this local market due to its convenient location, service, selection and quality meats and is reflected in the sales and gross profit report. Although the Market must stay generally price competitive with the competition, it has not been a constraint to maintain its consistent level of either sales or profit when the inventory level and mix is properly maintained. This store has a long history of strong meat sales with sales distribution of more than 40% of the stores total gross sales. This should allow the market to produce a much higher gross profit than the conventional supermarket chains. The meat, produce and deli sales since the reopening have exceeded 54% of the total stores sales.
About the Sale
Management Training and Support:Management team in in place and would stay on with a new owner.
Reason For Selling:This store is operated by absentee owners with other business holding in California, but due to the economic downturn, they were forced to concentrate their efforts using their financial resources on their other business holdings in California leaving this supermarket void of any operating capital. The management team initially put in place lacked the ability to operate this store. Due to the fact the absentee owners were unable to supervise purchasing and neglected to oversee the daily operations which lead to inadequate accounting procedures, they allowed the store to deplete its inventory and the owners elected not to replace much of the inventory necessary to maintain volume…using the funds toward their crisis in California.
Seller Financing:Partial financing to a qualified buyer
KEYWORDS: supermarket, meat market, grocery store, Florida Supermarket, market, retail grocery
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