Franchise Convenience (Norwalk)

Franchise Convenience (Norwalk) $200,000

Financials will be provided with acceptable offer.

convenience includes beer, wine, Lotto and MORE! Store is located on a building CORNER on HIGH TRAFFIC MAIN THROUGH FARE! Approximately 3,200 SF paying 11,248/month lease with over one year remaining with option 1-2-3.
GROSS INCOME $1,320,000 with NET INCOME $20,654. There is also $30k to $40k in merchandise.

FULL TIME EMPLOYEES: 4
initial franchise fee $25,000
training fee $2000
travel expenses while traveling $3500 to $15,000
How long the franchise agreement last?
They said it’s every 10 years but they might go 15 years. The new buyer will submit a new application and it’ll be renewed at that time.
The sellers aren't wanting to meet with anyone to discuss the business.
Sellers don’t want to finance the business and I’m finding out that Circle K May require upgrades which can get costly.
Seller has owned the business for about 9 years.
The lease and franchise agreement both end in about a year.
Remodeling doesn’t need to be done but I’ve been told some items need to be updated (coffee machine, sings). We aren’t sure of the amount until someone from Circle K comes in to take a look at the business. I’ve been told that owners typically spend around $30k to upgrade the business but this will only help with sales and they will work with the new owner so he doesn’t have to spend too much. They want the business to succeed and don’t want to hamstring owners.

Do not talk to the owner and employees.
No Co-op brokering.

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