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Business for Sale Overview:

Now 50% Seller Financing up to $185,000. This traditional convenience store has been established for about 60 years in the same location. The current owner purchased it in May 2002. The store sells grocery items (about 36% of sales); cigarettes (37% of sales) beer (23% of sales) miscellaneous items make up the balance. The store’s gross margins average 25%. Store sales reported on the tax returns in 2005 were $1,054,401; in 2006 they were $1,118,122; and in 2007 they were $1,117,067. Sales volumes EXCLUDE lottery. Included in the selling price of $350,000 are the rights to the name, the lease, the telephone number, all the physical assets of the store, 2 weeks of training, and a seller non-compete agreement. The inventory is not included and will be calculated at the time of closing and added to the selling price. Inventory expected to be about $70,000 at cost. This is a rare opportunity to purchase an established, high volume, and highly profitable convenience store, with a very low lease rate.

Property Features and Assets:

Facilities: The owner of the business owns the property and will provide a long term lease to the buyer with an initial 5 year lease with (2) additional 5-year renewal options. The initial term rent will be $2,500 per month including property taxes and water and sewer and will be fixed for the first 2 years. After the initial 2 years there will be annual increases of 3% per year. The space is approximately 1,600 square feet plus a basement used for storage. Rent is already factored into the earnings.

Additional Details:

• The property is leased.
• The owner is willing to train/assist the new owner.
• The owner is not willing to work for the new owner.
• This is not a homebased business opportunity.
• This is not a franchise resale opportunity.
• This is not a distressed business or bankruptcy situation.