Gateway Business Brokers has determined the owner/seller has met our qualification standards of being an established, profitable, bankable business. This is the starting point of our SCS system that has proven to deliver results 3x or more industry standards and helps those we work with experience our mission of receiving the highest customer satisfaction ratings in North America. To obtain a thorough overview of this business, hit the CONTACT SELLER button. Once completed, you will receive an automated email from our system that will provide you with a link to complete a Non-Disclosure Agreement (NDA).
Description
Looking for a turnkey opportunity to own a successful business, and have a slower pace lifestyle? Look no further than this thriving convenience store, bakery, and Canada Post location that is the heart of this community.
Located in a bustling fishing village on the Atlantic ocean, this business has been serving the community since the early 1950's, offering a wide range of products and services to meet all of their needs in one convenient location. With a strong reputation for quality and service, this business has built a loyal customer base and has become a staple in the community.
The bakery section of the business features freshly baked bread, pastries, cakes, and desserts, meals to go, and homemade dips all made with high-quality ingredients and expert craftsmanship. The convenience store section offers a variety of groceries, snacks, drinks, bulk items, and household essentials. And as a Canada Post location, the business provides a full range of mailing and shipping services.
With a well-trained and experienced team in place, the business runs smoothly and efficiently, making it a turnkey opportunity for a new owner. There is a long standing staff in place who are managing the store allowing the opportunity for a more hands off owner. Whether you're an experienced entrepreneur or just starting out, this business offers the perfect opportunity to take control of your career and build a successful future.
Don't miss out on this rare opportunity to own a successful business that offers a unique combination of services in a prime location. Contact us today to learn more!
The sale is structured as a sale of 100% of the authorized and issued share capital of the company. Working Capital shall be adjusted at $0. By completing the NDA and becoming a qualified buyer, we'll be happy to send you a full Offering Memorandum that will answer most of your questions.
Financial Information
The deal structure is purchase price + inventory, expected to be approximately $100,000.
Annual Revenues and Seller's Discretionary Earnings:
2023
Revenue: $965,000
SDE: $65,000 + +
2022
Revenue: $1,400,000
SDE: $125,000
2021
Revenue: $1,170,000
SDE: $100,000
2020
Revenue: $1,275,000
SDE: $110,000
SDE is calculated with the inclusion of a Fair Market Value rent expense of $26k which is sufficient to carry a mortgage of approximately $280,000. 2022 SDE of $125k is after $26k rent expense.
* Seller's Discretionary Earnings (“SDE”) is a calculation of the total financial benefit that a single full time owner-operator would derive from a business on an annual basis. SDE is the pretax and pre-interest profits, before non-cash expenses, owner's benefits, one time investments, and any non-related income or expenses. SDE may require that expenses be adjusted if a new owner (Purchaser) will necessarily need to take on a new expense. SDE is also referred to as Adjusted Cash Flow, Total Owner's Benefit, Seller's Discretionary Cash Flow, or Recast Earnings.
** Our expectations are for a minimum 40% down payment on the final negotiated purchase price. Feel free to run some of your own calculations here:
https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/financial-tools/business-loan-calculator
Real Estate
Real estate is waterfront 5,687 sq. ft. ± lot, and a 3000 sq. ft. ± building.
For more information on this listing, please complete our Non-Disclosure Agreement
Complete NDA for Full Overview
