Business Summary:
This well-established rural market and restaurant is located on a busy state highway that connects southern Maine to recreational areas in the northwestern part of the state. It is located in one of Maine’s scenic lake and recreation areas. The store does about $1 million in annual sales with about 32% in higher margin restaurant and take-out foods. It has an inside seating area for nearly 60 people. It has developed an excellent reputation for its products and services in terms of quality, pricing and selection. The market is the only agency liquor store in town and has the only mega-bucks and ATM machines. The sale includes the real estate and is suitable for a 1031 Exchange. In addition to the business cash flow of $125,000, there is additional apartment rental income of $20,000 as well as the real estate rent add-back of $30,000.
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| Year
Business was Established: 1860 |
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| Number of Employees:
18 |
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| Facilities / Terms of Lease:
The store is located in a historic building with plenty of retail and storage space, ample parking and room for expansion. The market has about 4,000 SF of space on the first floor. Above it are apartments including a large owner s quarters. Approximately three acres of land are included in the sale with over 400 feet of road frontage. A new commercial kitchen was added in the 1990s, and other upgrades to the building have been made each year. |
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| Potential
Growth/Expansion:
This area of Maine will continue to grow in both population and vacationers. Located on three acres of land, there is plenty of room to expand the store, add new products and develop new ideas. There is ample oven and food prep capacity to expand into catering, and the home meal replacement market. |
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| Competition:
The store is dominant in its market and has a prime location that serves year-round and seasonal customers. There are no nearby grocery stores and its nearest competition is about half its size. Year-round residents, summer vacationers and winter sports enthusiasts make up the store s diverse and growing customer base. |
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| Owner
willing to finance:
Seller/Bank financing $125K on Biz. Bank $340K on R.E. Down Payment $155K. Working Capital Needed $20K. Suitable for 1031 Exchange. |
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| Owner
willing to train:
The seller will provide transition training for a new owner. |
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| Reason for selling:
The seller would like to travel for a few years and then begin a new career. |
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Seller Reference Number: 54221
BusinessMart.com Listing Number: 43930 |
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