* Included in Asking Price
Supermarket/convenience store/bakery/take away in Amanzimtoti opposite taxi rank. Ample parking. Fantastic exposure. Established 30 years.
This business is located in Amanzimtoti CBD very near the beach. This store is a favorite with locals and tourists looking for all convenience store items eg bread, milk, drinks, ice cream, dry groceries, hot take away food. In addition, the owner has introduced a bakery and grilled chicken outlet that has plenty of growth potential. This business has established employees who have the ability to run the business day in and day out.
Facilities: 3000+/- sq ft building and ample parking.
Competition: Leader in the convenience market within this community.
Growth Potential: Bakery and catering has huge potential for growth.
Training/Support: 2 weeks included, seller open to longer arrangement on a consulting basis.
Seller Financing: Seller will consider partial financing for the right buyer.
Sale Reason: Owner is a property developer - this business is non-core to the owner's main business.
Financial snapshot (USD):
Month Net profit Turnover net profit %
Jan-09 4 909,36 61 662,03 8%
Feb-09 6 016,15 55 375,41 11%
Mar-09 12 074,14 56 713,12 21%
Apr-09 3 374,77 54 344,42 6%
May-09 6 789,39 56 993,55 12%
Jun-09 5 998,53 55 793,45 11%
Jul-09 5 118,21 59 305,04 9%
Aug-09 3 657,05 58 945,87 6%
Sep-09 12 163,17 63 916,29 19%
Oct-09 8 261,29 72 752,97 11%
Nov-09 7 427,83 67 548,76 11%
Dec-09 9 546,17 78 807,62 12%
12 mths 85 336,07 742 158,52 11%
average 7 111,34 61 846,54 11%
|Facilities:||There is an option to buy the property as well as the business. The property receives a rental of USD3500 per month from the business and there are 2 other tenants paying USD900 per month in total ie total rental income is USD4400 per month on just the property investment which is a 10% annual rental yield for the landlord. The business has fridges, bakery equipment, shelving, tills, aircons, office, display fridges, catering equipment and signage.|
|Competition:||A large shopping mall opened up about 5 miles away but had no impact on the turnover because of ample parking on grade outside the front door of the shop and the fact that the business is well established in the area.|
|Growth Potential:||The owner does not go to the business. It is completely manager run. If an owner were to be hands on the turnover and profit would increase. There is an opportunity to put in a lotto machine which will increase turnover.|
|Training/Support:||The seller will facilitate full training for the buyer for up to 1 month.|
|Seller Financing:||Seller would defer up to 15% of the purchase price to be paid over terms|
|Sale Reason:||Seller is a property developer - this business is non-core to the seller's main business|
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