Seafood Wholesale, Retail and Restaurant w/RE

Not Disclosed, NC
Currituck County


Asking Price: Annual Revenue:
$5,500,000 $5,888,152

Wholesale/Distribution: Non-Durable Goods


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RE: Seafood Wholesale, Retail and Restaurant w/RE Broker: Tony Khoury
Owner Financing is Available!
$550,000.00

Quick Facts

Asking Price: $5,500,000
Annual Revenue: $5,888,152
Net Profit: Not Disclosed
Cash Flow: $1,508,355
Total Debt: Not Disclosed
FF&E: $591,027
Real Estate: Not Disclosed
Year Established: 1988
Employees: 32
BBN Listing #: 85458201
Broker Reference #: 13485-738471

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Business Overview:

SBA 7a Pre-Qualified with Lender - Located in the Southeast US, this very profitable and growing seafood processing, wholesaler, retailer and restaurant is ready to sell to the right buyer. The owner is ready to retire, is debt-free and has a thriving business, even during this Covid-19 environment. Multiple pieces of real estate accompany this sale, which is estimated to have a value of $1.5MM.

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Property Features and Assets:

This business has an excellent 30+ year brand name, distributes fresh wholesale seafood up and down the east coast of the US, has a growing retail operation and has an accompanying restaurant that has seen an increase in sales during this unusual Covid envrionment. Started in 1988, the owner of this business at one point had annual sales close to the $12MM mark, but has since admittedly, has been distracted by other personal side projects. Fresh seafood, as an alternative to beef, bbq and chicken is a welcome change for the average consumer. 7 different pieces of property convey with this sale, including: over 6.5 acres of land, with 2 commercial pieces of property and 2 residential homes.

Market Competition and Expansion:

While there is competition, it is hard to find a current business that has the combination of wholesale, retail and restaurant sales. This 30+ year operation has an excellent brand name and with some additional marketing and exposure, could continue to grow both in revenue and in profitability. Potential Growth: This business is located right on the coast and receives a daily supply of fresh seafood from all of its long standing independent contractor crab and fishermen. Opportunities for growth are tremendous with the right buyer who has the ability and distribution channels to scale this operation. Archaic systems need to be upgraded for more inventory tracking, logistically movement of product and POS software at both the retail and restaurant operation. The current owner is convinced and has been asked repeatedly to open an oyster bar and currently has design plans created and permitted to do so. The owner is willing to stay on for a period of time after the sale to help facilitate a smooth operation.

Reason for Selling:

Retiring.

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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