Status: Sold
Profitable Franchise Retail Store for 20 Years - Listing #: 52898
| BBF Listing No: BBF-966-52898 | Sunbelt Listing Number: 52898 |
| Category | : | Retail Miscellaneous | SIC | : | 5331 | |
| Detail | : | Retail Specialties | Price | : | 2,532,000 | |
| County | : | Manatee | Down | : | 500,000 | |
| State/Prov | : | Florida | Disc Earn | : | 715,076 | |
| Country | : | USA | Sales | : | 4,128,620 |
|
This profitable retail franchise has been in business for 20 years in Sarasota. The gross margins are over 70% and there is very limited competition. This business has done well regardless of the economy. Please sign the NDA in order to learn more. Confidentiality is very important to the Seller. |
| Reason for Sale | : | Moving out of state |
| General Location | : | Sarasota |
| Organization Type | : | Corp 'Sub S' Hours Owner Works: 30 |
| : | Years Established: 20 Years Owned: 3 Emp FT: 23 Emp PT: 0 Mgrs: 2 | |
| Non Compete | : | Miles: 100 Years: 5 Weeks Training: 4 Cost: $0 |
| Operating dys/hrs | : | Mon.-Sat: 12-8 Sunday:12-7 |
| Skills/Licenses | : | None |
| Data Source | P/L Statement | P/L Statement | ||
| Year (Cash Flow) | 2022 (N) | 2021 (N) | (N) | |
| Gross Revenue | 4,128,620 | 3,522,708 | 0 | |
| Cost of Goods | 1,370,975 | 1,079,889 | 0 | |
| Gross Profit | 2,757,645 | 2,442,819 | 0 | |
| Expenses | 2,462,223 | 1,854,885 | 0 | |
| Net | 295,422 | 587,934 | 0 | |
| Owner Salary | 108,000 | 60,000 | 0 | |
| Benefits | 172,108 | 7,200 | 0 | |
| Interest Expense | 128,403 | 71,263 | 0 | |
| Depreciation | 11,143 | 5,571 | 0 | |
| Other | 0 | 0 | 0 | |
| Discretionary Earnings | 715,076 | 731,968 | 0 |
| Accounts Rec | 0 | N* | Real Estate | 0 | N* |
| Inventory | 50,000 | Y* | ___________ | 0 | N* |
| F F & E | 130,000 | Y* | Total Assets | 180,000 | Y* |
| Leasehold | 0 | N* | |||
| *Included? |
| Lease/Month: 8202 | Square Footage: 5486 | Building Type: Shopping Center |
| Terms & Options: New long-term lease avail | Expiration Date: 3/30/2028 |
| Lender Pre-Qualified Project Summary |
| Acquisition Costs | Down Payment and Financing |
| Purchase Price | 2,532,000 | Down Payment | 500,000 | |
| Working Capital | 50,000 | Loan/Assumable | 0 | |
| Loan Fees | 79,758 | Loan/Seller | 0 | |
| Closing Costs | 5,000 | Loan/Other | 2,166,758 | |
| Total | 2,666,758 | Total | 2,666,758 |
| SBA Loan | - Amt: | 2,166,758 Mos: | 120 Rate: | 9.50 Mo Pmt: | 28,037.32 |
| JOSEPH ALTER | Office | : | (239) 849-9334 | |
| BROKER | Fax | : | ||
| Home | : | (239) 849-9334 | ||
| SUNBELT BUSINESS BROKERS NAPLES & FT MYERS | Cell | : | (239) 849-9334 |
| 2640 GOLDEN GATE PARKWAY, SUITE 204 | ||||
| NAPLES, FLORIDA 34105 | : | jalter@sunbeltnetwork.com | ||
| USA | Home Page | : | sunbeltofflorida.com |