Beautiful Market and Deli on Busy Street Downtown Denver
2018 had earnings of 139,589 on revenues of 1.17M. This company made 152K in 2017 on 1.27M.
There are many easy ways to increase both the top and bottom line for this business. The market used to be open six days a week Mon-Sat but for quality of life reasons, owners closed on Saturday which was a profitable day for the business. Owners also decided to close at 6PM, again for quality of life. There is much potential to pick a niche (like pizzas or even fine dining) for evening business to drive sales and profits. There is a high-rise apartment directly above the market with over 350 apartments with many thousands more within blocks of their location. Plus, the new owner can also expand sales by adding new products.
The owners are a husband and wife team whom opened this store in 2006. They started it as a gourmet market with gourmet meats and cheeses and evolved it into more of a semi-gourmet Deli and breakfast/lunch/catering place that offers high quality basic foods and drinks. They also have a full liquor license. After 20 years, owners are ready to move on to next phase in their lives and believe the store needs new energy after 20-years with same ownership.
This business is location driven with a well below market lease with 8 years left on it. This business will not change after the sale based on their reputation and location. They have mostly repeat customers. This is a fun business to own and to work at. The owners have met many great people over the years that they get to see almost every day.
The sales price is 350K plus their cost of inventory which is currently around 20K and varies from month to month. The seller is willing to carry 10% of the purchase price for a qualified buyer. This should qualify for a bank loan with the buyer contributing 75K which is the estimated down payment of 15% for the banks plus working capital.