Under Contract
Red Hot Franchise Business in Charleston
| Listing No: 52472 | |
Public Pictures:  |
| Category | : | Animals/Pets | SIC | : | 5999 | |
| Detail | : | Pet Shop | Price | : | 9,100,000 | |
| County | : | Dorchester | Down | : | 3,635,000 | |
| State/Prov | : | South Carolina | Disc Earn | : | 2,797,556 | |
| Country | : | USA | Sales | : | 8,873,541 |
|
This Franchise retail business is growing very quickly under the current ownership. the Seller's discretionary Earnings has gone from around $800,000 in 2021 to aomost $2.8MM for 2022. The revenues and net prifit are expected to be up about 10% this year. Please do not contact Broker to ask what kind of business is this. First, sign the NDA and read the Confidential Business Review. |
| : | Standard Agreement: Y Signature on File: Y | |
| Showing Remarks | : | PLEASE PROVIDE A DETAILED PERSONAL FINANCIAL STATEMENT WHEN YOU SIGN AN NDA TO GET MORE INFORMATION |
| Reason for Sale | : | Moving out of state |
| General Location | : | Charleston, SC |
| Organization Type | : | 'LLC' Hours Owner Works: 40 |
| : | Years Established: 5 Years Owned: 2 Emp FT: 25 Emp PT: 2 Mgrs: 4 | |
| Non Compete | : | Miles: 5 Years: 300 Weeks Training: 4 Cost: $0 |
| Operating dys/hrs | : | M-F 11am - 9pm & Sunday 12pm-8pm |
| Skills/Licenses | : | None |
| Business | : | Is Relocatable: Y Is Home Based: N Is a Franchise: Y Is Lender P/Q: Y Should Qualify For Visa: Y |
| Data Source | P/L Statement | P/L Statement | P/L Statement | |
| Year (Cash Flow) | 2022 (N) | 2021 (N) | 2020 (N) | |
| Gross Revenue | 8,873,541 | 4,919,472 | 4,452,582 | |
| Cost of Goods | 2,944,454 | 1,917,206 | 1,580,049 | |
| Gross Profit | 5,929,087 | 3,002,266 | 2,872,533 | |
| Expenses | 3,552,317 | 2,678,762 | 2,218,307 | |
| Net | 2,376,770 | 323,504 | 654,226 | |
| Owner Salary | 335,654 | 167,827 | 0 | |
| Benefits | 0 | 0 | 1,675 | |
| Interest Expense | 48,260 | 83,084 | 28,213 | |
| Depreciation | 33,544 | 34,155 | 43,362 | |
| Other | 3,328 | 156,426 | 234,668 | |
| Discretionary Earnings | 2,797,556 | 764,996 | 962,144 |
| Accounts Rec | 0 | N* | Real Estate | 0 | N* |
| Inventory | 150,000 | Y* | ___________ | 0 | N* |
| F F & E | 130,000 | Y* | Total Assets | 280,000 | Y* |
| Leasehold | 0 | N* | |||
| *Included? |
| Lease/Month: 8442 | Square Footage: 8700 | Building Type: Strip Center |
| Terms & Options: New long-term lease avail | Expiration Date: 2/28/2038 |
| Lender Pre-Qualified Project Summary |
| Acquisition Costs | Down Payment and Financing |
| Purchase Price | 9,100,000 | Down Payment | 3,635,000 | |
| Working Capital | 200,000 | Loan/Assumable | 0 | |
| Loan Fees | 325,000 | Loan/Seller | 1,000,000 | |
| Closing Costs | 10,000 | Loan/Other | 5,000,000 | |
| Total | 9,635,000 | Total | 9,635,000 |
| Loan/Assumable | - Amt: | 0 Mos: | 0 Rate: | 0.00 Mo Pmt: | 0.00 | |
| Loan/Seller | - Amt: | 1,000,000 Mos: | 60 Rate: | 7.50 Mo Pmt: | 20,037.95 | |
| Loan/Other | - Amt: | 5,000,000 Mos: | 120 Rate: | 9.00 Mo Pmt: | 63,337.89 |
| 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 | : | [email protected] | ||
| USA | Home Page | : | sunbeltofflorida.com |
Listed By: Joe Alter
Background information
Reference:
52472
Finance
Sales:
$8,873,541
Profits:
$2,797,556
Profit type:
Discretionary Earnings
Price and terms
Price:
$9,100,000