Description of the business for sale
The 20,000sqft, beautifully maintained, supermarket was completely remolded less than 6 years ago. It is located in a large Florida city in a shopping plaza that has a large parking lot with front door parking. This store has a consistent history of good sales with marginal profitability due to its absentee corporate management. In addition, the store is located 250 miles from corporate headquarters. This distance prevents direct oversite by the owners. It has been operated as a limited assortment style market with limited services and store hours. It is located on a very busy highway in a large Hispanic and African/American section of the city. This clientele has not been marketed by the present owners and a new owner/operator could increase sales and profits substantially by setting this store to their needs. Due to this stores high distribution of meat sales it should also be cutting a much higher gross profit. See pictures at www.floridacapital.com
COMPETITION: The only major competitors for the market is a Wal-Mart Superstore which opened over a year ago taking less than 15% of the markets sales. With a new owner/operator targeting the ethnic clientele and with a large emphasis on the parishables and product-mix, could easily surpass previous sales and reach a much higher sales and gross profit margins.
Support / Training provided by seller
Management is in place and most or all of the employees would stay with the market. The present Manager would train a new owner for up to 10 days.
GROWTH: This Market is operated as a limited service/limited assortment retail grocery store with a large self service meat department that averages over 42% of the total store sales. A new owner/operator should target the large Hispanic & African/American clientele and put an emphasis on product-mix. The Market has a courtesy counter that is only used for the sale of cigarettes and express checkout and could easily be used for check cashing, Western Union and Lottery which would substantially enhance the overall sales and profit .
Description of the facilities
This market operates from a 20,000sqft building in a shopping plaza strategically located on a major 6 lane highway. The shopping plaza has 12 other tenants and one vacancy. The sales floor is approxilately 12,000sqft. The backrooms consist of large storage coolrers and freezers with pallet size doors for easy loading and unloading. It includes a large self service meat department, a fresh refrigerated & dry produce department, along with a full line of dairy and frozen foods. The equipment and fixtures are less than 6 years old and in very good condition.
ADDITIONAL FINANCIAL INFORMATION:
• Financing: The Seller may provide financing for the inventory to a qualified Buyer.
• Inventory: $170,000 .
• FF&E: $300,000 .
REASONS FOR SELLING: Corporate parent wants to divest of its retail