High Volume Food Markets w/Real Estate in South Jersey

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Business Description

Their Food Market was established in 1959 as a butcher shop. Shortly after in 1961, the store began to offer grocery, dairy and frozen foods. In 1972 they began to offer fresh deli utilizing Dietz & Watson, as the primary wholesaler. Today, the Food Market offers sandwiches, a large volume deli and meat section. They are open 7 days a week. Monday-Friday 8am-6pm, Saturday 8am-5pm and Sunday 8am-3pm. During those years the store maxed out at $550,000 a year in sales. It wasn't until 1999 when they bought the store and changed the business philosophy. By 2002, sales were over $1.5 million. Today they boast a high volume deli, award winning sandwiches and top quality meats to go along with a large grocery section. In 2006 they purchased the building and 2 empty properties. In 2000, they purchased another store in the same shopping center and converted it into a full line produce store with crafts, seasonal flowers, baked goods and dried nuts and candy. Both stores are approximately 2,700 sq.ft. with walk-in additions added to the back of both. The farmers market has a lottery machine that generates $25,000-$30,000 a year in commissions. In 2015 a nursery was attached to the farmers market to allow for increased flower sales. The nursery is 25 ft. x 60 ft. in size with a 4-zone automatic sprinkler systems. Today, sales in the farmers market is over $800,000. Currently they own 2 buildings and 2 pieces of additional properties in the shopping center. Sales for both stores are approaching $3 million dollars a year. This is being sold as a complete package - 2 markets and a nursery with real estate plus 2 pieces of land at the end of the shopping center that could be used for future growth.

Contact: Gary Hersh /www.hershassociates.com // gary@hershassociates.com
215-322-2800

About the Business

Location:
Cherry Hill, New Jersey
Year Established:
1960
Number of Employees:
11 F/T - 15 P/T
Real Estate:
Owned
Building Sq. Ft.:
6,400
Facilities:
The 2 stores plus a nursery are kept in excellent condition. All equipment is in top shape. If something breaks, they fix or replace it.
Market Outlook/
Competition:
There is very little competition in the area and nothing on this scale.
Growth & Expansion:
This is a turn key operation and it would be a plus if you know the food business.
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About the Sale

Reason For Selling:
Retirement
Training/Support:
The owners will stay on several weeks or longer for a smooth transition.
Seller Financing:
If your experienced in this Business.

Listing Info

ID:
1478635
Ad Detail Views:
1262
Asking Price:
 Not Disclosed

Gross Revenue:
$2,900,000
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
$68,000
not included in asking price

FF&E:
$75,000
included in asking price

Real Estate:
$899,000
included in asking price

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Business Listed by

Raymond J. Barbiere

The Oxford Capital Group, Inc.

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