Shortstop Market and Laundry

Business Summary:
THE COMPANY The Shortstop Market and Laundry is celebrating their 10th anniversary this year, posting sales increases every year. In 2007, gross sales moved over the $500,000 mark. The location has now established itself as the neighborhood market more than a convenience store and the location is only enhanced by the State-of-the-Art professional ball park, Melaleuca Park in the summer of 2007. The addition of a freezer unit, expanding the walk-in cooler, setting up a deli area, and offering a wider product mix has all improved gross sales. The owners are installing additional security and a new Point of Sale system to improve overall store profits. Both of the owners work full time in demanding careers and do not manager or oversee the store on a day-to-day basis. An owner-operator would see an immediate improvement in operating profit with day-to-day supervision. THE LOCATION The +/-4,000 square foot building was completely remodeled in 1999-2000; new steel with 20 year warranty, new sheet rock walls and ceiling, new plumbing both gas and water for the laundry and store, and professional grade stucco exterior. In fact the store had an appraisal done in spring of 2008 that valued the land and building at $395,000; this was done prior to completing the just updated interior lights. The location is more than a seasonal supplier for the ball park and now with the closure of the Saving Center that has been the neighborhood grocery store for 40 years, the demand for product at the Shortstop has grown as never before. The owners are motivated to sell and have not changed the interior of store to accommodate the demand. There is a 364 square foot office that is not utilized and the 1,897 square foot laundry does not post as high of a price per square foot as the store and should be consolidated to meet the demand. THE CUSTOMER The customer base has expanded in diversity over the last 10 years. Summer sales are still significant but now the demand of being a neighborhood store has increased the annual gross sales. The neighborhood has several rental apartment units and rental homes, as well as long established homeowners. The core community is within walking distance to the Shortstop and the customer base is established and loyal. THE REASON FOR SELLING The owners bought and built out the property to support their laundry that was being relocated. They did not have experience in the food industry. They were under financed from the beginning and have taken the profits from the convenience store to build the business and let the laundry suffer. The store has positive cash flow and they are motivated to sell and return their attention to their careers and families. THE IDEAL BUYER The store now has gross sales for an owner-operator to be very successful. An owner that has grocery experience and customer skills will be able to expand and grow with the void in the area over the closure of the Savings Center. The local bank has approved the project based on a new owner having experience and $100,000 down. The future for the Short Stop Market has never been stronger.