Ok so I found a person who is retiring and wants to sell his convenience store. I don’t have much info as of yet but want to get some direction here.
- Asking: 70k + inventory
- Gets 30k+/month
- Average profit 5-6k
- Hours are 9am - 8pm, closed sunday
- It’s in an industrial area
- They sell beer/wine, check cashing, atm
- There is hardly anything around as far as businesses go other than industrial.
How can I find out the market value of this place and determine an offer price, etc…?
I do work full time so I would need to find someone to work there. I do have a cousin with some convenience stores and he could assist as far as questions I have. What he does is offer a percentage of profit to a helper he trusts that then manages / works in the place.
Any advice, suggestions?