Gas Station w C-Store in Burlington County - 32134

Financing

$199,000 Down and

Business Description

The price is flexible! This Absentee Owned, blue collar, neighborhood Gas Station and Convenience Store represents an ideal opportunity for a hands-on owner-operator. Located in Burlington County, New Jersey, the station and convenience store have gone through majors change in the last two years starting when the owner switched from branded to unbranded gasoline. Volume at the pump dropped as a result of the switch and falling gas prices further contributed to the decline in sales; however, despite these changes, gross profit is ahead of its former branded self as the profit margins have increased to more than cover the reductions. Running an average of 19 to 20 cents per gallon, at a steady average of 75,000 gallons per month, gross profit is ahead of prior years. The same cannot be said for the 1,600 square foot convenience store. In 2018, the owner left to own and operate a table-cloth Indian restaurant. The hours at the convenience store were reduced and snack and food products were eliminated so that the now absentee owned store and gas station could be managed by one person; convenience store shelves were left half-empty, and the space allocated for snacks and staples cut in half as the owner was pulling cash out of the business to fund his other venture. Food, lottery and cigarettes declined somewhat as a result. Nevertheless, the business has remained profitable through the changes and is now more so as the owner has negotiated a long-term 15-year lease at an $18,000 yearly rent reduction. Convenience store sales are up and as the shelves are stocked, cigarette, lottery and ATM sales pick up as well. Future changes of significance include the following: now open from 9 am to 9 pm daily, expanding the hours to at least 16 hours per day; also, the corner station has a significant footprint and it has been approved as a U-Haul truck facility that will add $1,500 per month in income; further, the convenience store lacks popular staple items such as cigars, electronic cigarettes, tobacco products and now cannabis oils. Adding fried chicken to this blue-collar community is a certain winner. Offering money transfer, money order and other financial services will drive traffic and add to its profits. No doubt about it, this business is being prepared for sale. No longer an expensive purchase, the business is now priced to sell. The owner is selling to finance other business interests.

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Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.