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Cafe/Coffee Shop in busy North Shore downtown location

Beverly, MA

Seller Financing Available

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Sale Pending
Asking Price:$175,000
Rent:$1,725/Month
Gross Revenue:$410,000
Established Year:2012
Listing ID: 2197272Listing provided by BizBuySell
BUSINESS DESCRIPTION

Well established coffee shop cafe with loyal and growing customer base. Business started in 2012 but with new owners, new name, new equipment and new food/drink items 2 years ago. New owners have two other locations in nearby towns and want to focus on those, so the name is not included in the sale. Sales increased about $100,000 to $410,000 with the new ownership. This is a great opportunity for anyone wanting to get a fast start with a coffee shop located on a busy downtown street in an area known for having many food options. There's a college within close walking distance and residential areas nearby. Rent is very reasonable for the area and just 5% of sales. The space is well appointed and consists of 800 sq. ft. on the ground floor, with a full basement.

DETAILED INFORMATION
Location
Beverly, MA
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
1,600
Lease Expiration
29/02/2032
Facilities
Trendy coffee shop in one story building with basement on the town’s main street. Retail stores on the block also attract customers to the area. Ground floor and basement 800 sq. ft. each and well equipped. Seating capacity 25. On street parking generally available close to the shop or in parking lots very close by. All assets necessary to operate efficiently are included in the sale. Major assets purchased new three years ago and are in good condition. Basement has ovens, freezer, refrigerator, baking and prep area and a 3-bay sink.
Competition
The coffee shop is well located for serving students from the nearby college as well as residents from the surrounding area. Several other well-known restaurants are nearby. Customers come to enjoy coffee and snacks in the relaxed seating area or take them out. Customers include students, retail shoppers, local business people and tourists and are predominantly in their 20s and 30s.
Growth & Expansion
Growth & Expansion opportunities The company has multiple avenues for growth. • Expanded hours. • Increased food offerings at lunch and afternoon pastries. • Increased marketing. A new owner with marketing skills and an understanding of online marketing can significantly expand the business. • Delivery. Delivery options can be increased and actively promoted. • Catering.
Financing
Limited seller financing may be available to approved credit worthy buyer.
Support & Training
Seller will provide 1 full week of training and will be available for consultation as necessary afterwards.
Reason for Selling
The owners have two other locations in a nearby town and want to focus on those.
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Jeffrey
Starfield
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Jeffrey Starfield
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