Franchise C-Store in Food Court
For Sale in NJ
Financial & Assets Details
About the Business
Great business opportunity to purchase this national franchise retail convenience store located in a popular commercial in-door mall located in Northern New Jersey, Morris County. Owning this franchise C-Store is an exciting opportunity to join a successful national company in a proven, highly desirable industry. Since 1927, this franchise has been a popular and welcomed addition to the neighborhood. Any neighborhood, everywhere, for 25 years, they have enjoyed and shared in the growth of the industry and today, they are one of the leaders. From their first franchise, in 1995, they have fine-tuned their systems and operations to provide the best service, highest quality products and greatest convenience to their customers. For their franchisees, they offer the best opportunity to live their dream. Today, this franchise convenience store is the #1 mall and specialty-based convenience store in the U. S. This convenience store routinely has various part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $3,000. The business transaction has an assignable commercial lease which expires 2023, plus additional options available, with a monthly rent of $3,926 plus a percentage of gross sales, cost per square foot is estimated at $116 and rent security of approximately two months. The business has been valued / priced at $150,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Purchaser is responsible for franchise transfer fee of $10,000. Also, possible seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable safe business opportunity. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.
Growth & Expansion
The business can be further expanded by the new onsite owner operator, an improved marketing plan and local advertising, which can further develop the business yearly gross sales.
May be available to a qualified buyer.
To the best of our knowledge, due to various circumstances, franchise and landlord, we expect no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
This is a retail facility which consist of approximately 406 square feet, has an attractive and modern appearance which has been recently upgraded. The business is in a large in-door commercial mall with many other active and successful businesses and thousands of visitors and customers. This opportunity is in Northern New Jersey, Morris County, which consists of various highly populated communities with continued demand for this industry.
Support & Training
As per the seller/owner, he will remain after-closing and is prepared to supply an appropriate transitional period to the new owner / operator.
Reason for Selling:
Owner has alternative business out of the area.