...Note, for sales Revenue and Cash Flow we are using 2022's projected sales estimate....
The Deli has been here for +/- 16 years. The present Owner bought the Deli at the end of 2018 (4 years). It is run as a family business with 4 family members and 1 part-timer. The menu is huge. It has ?? a little bit of everything?? This Deli is known for the many choices its customers have for breakfast, lunch, and early dinner. They follow the 3 principles of a great food establishment, religiously: Good Food, Good Prices, and Good Service (the 3 G?s).
The Deli has indoor seating with 4 tables (8 seats), and outdoor seating with 5 tables (20 seats). Sales this year are expected to be over $700,000 ($13,450/week)!!!! They serve breakfast, lunch, and early dinner. You can eat inside or outside. They also deliver via the delivery services and they do catering.
$129,900 + Inventory (+/- $7,000)
Brookfield, CT (Fairfield County)
Being on Route 7, the neighbors are mostly commercial. As a matter of fact you can walk to over 70 retail stores including Costco, and over 100 offices including Brookfield Commons, and several medical offices. Next door there is even a condominium complex. Within 1 mile there are over 538 businesses with more than 5,250 employees and a residential population of 2,900 people and 873 housing units (more demographic info will be in our executive summary which we will send you after you fill out the Confidentiality Agreement & Questionnaire).
There are several head-on parking spaces in front of the Deli. The lot has +/- 47 spaces in total.
The parking lot is a little lower than the main road (Federal Rd/Rte 7) which travels north & south. Customers walk in the front door to the seating area, coffee bar, and order counter. There are 3 open doors to the cooking area, kitchen prep area, and the 6 door reach-in soda cooler. Next to the order counter is a Deli case.
The kitchen area has a walk-in-refer and a separate walk-in-freezer. The cooking area has an 8 ft hood, 6 burner stove, separate 2 burner stove, 2 ovens, 24-inch grill, convection oven, bain-marie, slicer, fryolator, and a panini press. Next to this area, there are 2 microwaves, a steam table, and a 3-bay sink.
The cold food work area has a butcher block table, 3-door bain-marie, microwave another 2-door bain-marie, another panini press, SS table, convection oven, and a 30 qt mixer. (See the complete list of equipment in the Executive Summary).
The current term has 4.3 years remaining plus a 5-year option. Total 9.3 years. The current base rent is $1,930/mo ($23,160/yr) or $19.30 psf. The nets are CAM, RE Taxes, and Miscel Expenses at $729/mo ($8,743/yr) or $7.29 psf. Total current rent is $2,659/mo ($31,908/yr) or $26.59 psf. Using the $700,000 proforma, rent is only 4.5% of sales. That?s pretty good!
There are 3 full-time family members and 1 part-time worker plus the FT Owner.
Furniture, Fixtures, & Equipment (FF&E):
Included in the asking price. When your signed Confidentiality Agreement & Questionnaire is received you will be sent a complete list of the equipment included in the sale. All equipment will be in working order.
There is limited competition in the area.
Growth & Expansion:
Since opening the store they have been adding new customers every year. The covid years were a little bumpy but still showed a year over year increase in sales. In 2021 sales increased 31.8% over the prior year and 2022 looks like a 38.2% increase will be obtained. ($700,000). This is $13,500 per week.
Hours Of Operation:
Monday to Saturday 8 ? 4. Closed on Sunday.
I?m not sure what the increase would be if they opened a few more hours every day and a half a day on Sunday!
Support & Training:
The current Owner and family will stay working for the Buyer up to 4 weeks while a new crew is hired and trained (assuming wages are agreeable). The Buyer might be able to work at the Deli before the closing.
Sales & Cash Flows:
Adjusted sales in 2019, 2020 & 2021 were: $334,328, 384,212, $506,409 and 2022?s pro-forma is estimated to be +/- $700,000
Cash Flows (Sellers Discretionary Earnings) for 2022 is estimated to be +/- $129,749.
What you can do to expand this business:
Open more days and hours. Advertise & promote the business. Start a direct mail campaign and get involved with social media.
Recurring Revenue Streams?
Yes. The people who stop in the morning will continue to do so if the price, service, and taste remain good. That is your recurring revenue stream.
Reason for Selling:
Moving out of the country.
No Owner financing will be available.
Interested buyers MUST sign our Confidentiality Agreement and fill out the Questionnaire before any additional information is received or a meeting is scheduled to view the business, attached) or the location disclosed. Detailed financial information showing the ability to purchase and proof of funds may be required before a meeting or conference call is scheduled.