This business is a fantastic neighborhood market. Serving the area for over 15 years, it sells fresh produce, meats, and grocery products tailored to the local community.
The store has all the pieces in place. Stores with meat departments get more traffic; meat represents approx 30% of gross sales. It is located in a safe Hispanic neighborhood with a loyal customer base that have been shopping here for years. The surrounding area is densely populated, with many apartments and single family homes nearby, and this market is their preferred stop for groceries. The area is well established, so you’re not likely to have new competition spring up nearby. Lease terms are outstanding: not only is the current rate under market, but they sublease a portion of their warehouse for $2,000 month, which covers a nice chunk of the rent.
The partners are going their separate ways. The partner with some industry experience is stretched too thin with other locations, leaving the less experienced partners to run the market. Prior to current owner, this location was doing 20% more revenue. Current owners do zero advertising or marketing of any kind; advertise after sprucing it up and grab some easy gains. There is also a perfect spot in the building to add additional services that the local community uses to increase revenue: check cashing, money wires, money orders, and bill pay.
If you’re in the market for a market, this business is for you! It makes an excellent profit now, but can make a fantastic profit with the right new owner. Contact the Agent today.