Description

Wonderful business opportunity one of fifteen highly successful independent self-service gasoline station with Convenience Store, car wash and real estate. The owners who are a corporate out of state company, has elected to market multiple fuel stations in North & South Carolina, due to their absenteeism. The various fuel stations have substantial gross sales and consistent high net yearly incomes to the owner operator. The fuel stations are independent, do not have fuel contracts which allows the owner to purchase fuel in bulk and sell retail at a much greater net profit. These businesses have fuel sales of well above one million gallons yearly including high volume retail store & Lotto sales. The sales have been preliminarly approved for bank financing with the appropriate down payment. Based on a 20-year payout at 5% interest, 20% down payment purchaser would obtain a consistent net yearly income return on investment after debt service. This industry does not require any particular government agency approval to purchase. The majority of the businesses are located near various interstate highways in North & South Carolina which attract a large customer based of clients. The facilities are fully upgrade and modernized with a canopy, convenient store and some have a car wash service, etc. The businesses also have additional incomes such as Lotto, ATM, etc. Each of the fuel stations have an average of three to four employees who are all unaware of the pending sale and fully expected to remain post-closing and monthly payroll is approximately $5,400. The business sites which have been upgraded consists of a large pad and an average 1,600 square foot interior facility. The sale includes the multiple businesses, equipment and property for each location, which represents a fully equipped retail store, including an operating gas stations with canopy, upgraded fuel tanks, gas pumps, multiple tanks, refrigeration & freezer units, POS system, displays, shelving, tables, computers, including all the necessary equipment to maintain the day to day business operation. Each of the facilities have substantial private parking on site for its various customers. The businesses are active seven days per week, with hours from 6:00 am to 12:00 am. The sale includes a certificate of occupancy from the particular municipality including the required food license and approval for Lotto, etc. The corporate owner will remain post-closing in order to supply an appropriate transitional period. This sale is due to out of state absentee corporate owners. Due to the corporate ownership, each location is presently maintained with a site manager, however with on-site ownership and a marketing plan for additional corporate fuel accounts further growth is highly possible. To the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply a long term non compete agreement to the purchaser. The average fuel stations 2015 gross yearly income was approximately $2,000,000 and a yearly net income of approximately $185,000 prior to debt service and based with onsite ownership. The 2016 income is similar to the previous year. Each of the fuel station businesses have been valued based on a multiple of the net yearly income, asset value and the value of the real estate. Bank and seller financing is available to a qualified buyer.

Posted Oct 25, 2016

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