Retail - Convenience Stores

Asking Price	$299,000	Inventory	$70,000**
Gross Income	$1,117,067	Real Estate
Cash Flow	$189,251	Year Established	1958
FF&E	$20,000*	Employees	2

* included in the asking price

** not included in the asking price

This traditional convenience store has been established for about 60 years in the same location. The current owner purchased it in May 2002. The store sells grocery items (about 36% of sales); cigarettes (37% of sales) beer (23% of sales) miscellaneous items make up the balance. The store s gross margins average 25%. Store sales reported on the tax returns in 2005 were $1,054,401; in 2006 they were $1,118,122; and in 2007 they were $1,117,067. Sales volumes EXCLUDE lottery. Included in the sale are the rights to the name, the lease, the telephone number, all the physical assets of the store, 2 weeks of training, and a seller non-compete agreement. The inventory is not included and will be calculated at the time of closing and added to the selling price. Inventory expected to be about $70,000 at cost. This is a rare opportunity to purchase an established, high volume, and highly profitable convenience store, with a very low lease rate. Contact Broker to arrange to meet to sign the Confidentiality Agreement and recieve an information package. Leave message.

Facilities: The owner of the business owns the property and will provide a long term lease to the buyer with an initial 5 year lease with (2) additional 5-year renewal options. The initial term rent will be $2200 per month including property taxes and water and sewer and will be fixed for the first 2 years. After the initial 2 years there will be annual increases of 3% per year. The space is approximately 1600 sq. feet plus a basement used for storage. Rent is already factored into the earnings.

Financing: Seller will finance inventory for 12 months

Support/Training: Seller will provide 2 weeks of training included in the sale immediately after closing.

Reason Selling: Relocating to Florida for family reasons