We are selling a small grocery store with a very strong location on the York university campus mall, York Lanes.
This is our most recent store we opened just 1 year before the Covid disruption on campus.
The store was not operating 2 full fiscal years when we were impacted by Covid. Over the last few years we have seen more students returning to campus. It was a slow return over many years.
If we have not been impacted, the store would have broken even by year two factoring in almost $50K in amortization and a management salary of almost $60K. Usually our stores take 4 years to reach maximum sales. The location is our highest walkby traffic and our other store of similar size of a smaller campus does very high sales.
This store will be an Asset Sales for the value of the store assets. The cost to build the store was over $500K in 2018. Our quote now to rebuild a similar store is $675k and 9-11 months equipment lead-times. If you would like to see what our other more established stores are currently doing, we will have you sign an NDA and submit the sales.
Sales in 2023 552,000
Gross Profit 165,546
Sales in 2024 417,053
Gross Profit 153,852
The store is operated by students currently and would benefit strongly with an owner operator being involved. Our other location of similar size at a smaller campus does well over 1.5M in sales.
The successful buyer will need food ownership experience and grocery store ownership experience may also be necessary. The buyer will also need strong financial backing that will need to be confirmed to York University.
We have already had two potential buyers rejected by the university for either lack of experience of not strong enough financial backing.
