Business Summary:
Bakery Busines Selling Cookies, Breads, Cakes And Ice CreamWhat is being sold:Bakery Business established Over 59 Years (Owner over 27 years) in a quaint New England town (around Danbury, CT).Location:This is a high traffic 2,050 s.f. bakery with a 500 s.f. basement located in a quaint New England town’s Shopping center centrally located near the Post Office, Town Offices, several banks, gas stations, and another shopping center across the street.What do they sell:This bakery sells +/- 40–50 cakes for all occasions a week. They also make +/- 350 loaves of bread a week. Wanna know what else they sell?The store has 28 seats and sells coffee, teas, espressos, lattes, donuts, Danish, cookies, pastries, muffins, scones, bagels, rolls croissants, crumb cakes, turnovers, and cakes for all occasions. They also sell 28 flavors of hard ice cream, gelato, milkshakes, and bakes 11 varieties of breads. One or 2 days a week they also make a few pizzas and sells them by the slice.Competition:This business is the only bakery in town except for the 2 food stores. The bakery has been in the same location for 58 years and the same Owner for the last 27 years.What the Owner will do for the Buyer:The Owner wants to get ready for retirement. He will help a qualified Buyer with Owner financing, and training with his recipes. Store hours:The store has different winter and summer hours:Summer Hours are Mondays 7-11am, Tuesday – Saturday 7-9pm, and Sundays 8-1pm. Totals 79 hrs/week. Winter Hours are Monday – Friday 7-7pm, Saturdays 7-6:30pm, and Sundays 7-12pm. Totals 68.5 hrs/week.Labor:The Owner works full-time with 1 other full-timer and 3 part-timers. Payroll averages +/- $1,710/week. Using $430,000 for annual sales this would be +/- 20.7% to sales (not counting the Owner’s drawer, equity withdrawals, or paychecks).The Owner is the baker. He has an assistant that helps in the kitchen. All the other employees work the sales counters. Sales:Sales is being projected to be $430,000 this year (2023) and the new Owner’s projection should be +/- $463,000. Note that advertising and promotion can be increased - something that a new owner will quickly address. Sellers Discretionary Earnings (Cash Flow)-SDE:As far as the SDE is concerned, the new Owner projection shows +/- $50,000. However, this is highly dependent on how the new Owner plans to run the business. But this projection is a good starting point for a “business plan” budget.Lease:There is 3 years left in the current term of the lease plus there are 2 – 5-year options. Base rent is $2,391.67/mo ($11.25 psf) The nets are $7.75 psf +/- $1,541.67/mo. Total rent is $3,933.34/mo or $18.50 psf. Miscellaneous:This is an interesting opportunity to get an established bakery business with an Owner who wants to make sure you get off to a good start. The town has good schools, it's near a lake and the area has all kinds of shopping, dining, hospitals, and amenities. Can’t ask for a nicer place to live, raise a family and have fun when not working.Interested buyers MUST sign our Confidentiality Agreement and fill out the Questionnaire before any additional information is received or a meeting is scheduled to view the business, or the location disclosed. Forms are available at this Listing, on our website, or can be e-Mailed to you upon request. Detailed financial information showing the ability to purchase and proof of funds may be required before a meeting or conference call is scheduled.Assets:The interior assets include the 28 seats in the front, a coffee, tea, espresso & soda area on the right, and 2 ice cream cases holding 16 tubs (flavors) in one and 12 (flavors) in the other. Between are 3 4-shelf pastry cases and 3 lighted bread cases. In a room on the left side is an office and cake decorating areas. In the rear are 2 kitchens with all kinds of fancy pieces of equipment needed for cookies, breads, cakes, and pastry making.Support & Training:Several weeks to learn the recipes and how to bake the items plus training as needed to learn how to use the equipment that may be new to the Buyer. The Owner will even consider some consulting time if the New Owner wants. Owner is very flexible and accommodating.The Owner has been doing this a long time. He plans to retire or do something else that isn't as demanding on his time.Owner Financing:At the present, if qualified, the owner would consider financing 50% at 7% interest over +/- 3-5 years.One More Thing:I forgot to mention…also included in the sale is a 15K, 35KW, 3 Phase Diesel Generator. Just because the electricity goes out, doesn’t mean the breads, cakes and pastries aren’t going to be made!Quick Look…Location:Fairfield County, CTReal Estate:LeasedBuilding SF:2,550 gross s.f. (including the basement of 500 s.f.)Lease Expiration:To Be NegotiatedEmployees:FT Owner plus 1- full-timer and 4-part timersFurniture, Fixtures, & Equipment (FF&E):Included in the asking priceFacilities: This is a high traffic 2,050 s.f. bakery with a 500 s.f. basement located in a quaint New England town’s Shopping center is centrally located near the Post Office, Town Offices, several banks, gas stations, and another shopping center acrossthe street.Competition:There is limited competition in the area. The bakery has an established following with many regulars.Growth & Expansion:The bakery does little advertising. A new Owner could increase business by increasing advertising and promotion activities, especially on the internet. Support & Training:The current owner will remain to train the New Owner with his recipes and how to use any of the equipment he might not be familiar with. He will also consider some consulting if requested by the Buyer.Reason for Selling: The Owner has been doing this a long time. He plans to retire or do something else that isn't as demanding on his time.
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