Listing Id: 25825
Total Views: 2040
(Sold) Profitable Dried Goods Provision Shop For Sale In Good Location With High Human Traffic
Hougang
Date Closed: 05/10/2022
Asking Price: S$50K - 100K
- Overview
- Reason For Sale
- Description
- Property Information
Overview
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Premise Type
Neighbourhood
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Premise Size
731 sqft / 68 sqm
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Monthly Rental
S$7,100
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Rental Desposit
S$14,200
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Revenue
S$200,000
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Liability
N/A
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Gross Profit
S$20K - 50K
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Net Profit
S$5K - 10K
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Stock
N/A
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FFE
N/A
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Payable
N/A
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Receivable
N/A
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Owner Role
Full Time
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Staff
N/A
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Established
N/A
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Source
Direct Seller
Reason For Sale
Business owner seeking to retire and wants to handover the business
Description
- Existing business is a dried goods provision shop located at Block 108 Hougang Avenue 1
- Business owner and shopkeeper seeking to retire after Chinese New Year 2023
- Balance 1 year lease with landlord from today till March 2024 @ $7,100 for ground floor shophouse and $2,200 for 2nd storey living quarters (HDB 3-room flat size)
- Landlord agreed to extend tenancy from March 2024 to March 2025 @ $10,000 for ground floor shophouse and $2,500 - $2,800 for 2nd storey living quarters (HDB 3-room flat size)
- Business has been profitable since its inception in March 2020
- Average net-profit of $7,000 per month
- Seeking buyer whom is willing to takeover the business in wholesale manner (i.e. incoming buyer to takeover existing shelving, refrigerators, Point-of-Sales system, etc.)
- Existing services such as utilities and outdoor area rental from Town Council will be transferred over to incoming buyer
- Incoming buyer can opt to hire new staff or retain existing staff currently hired by business owner but subject to staff's agreement
- Shopkeeper willing to provide training for new staff hired by incoming buyer, if required
Korea