Many of you have excellent residential agents; they do a great job listing and selling residential properties; and know their business very well. This week, however, a residential agent came to me to ask about his client buying one of the many c-stores (Convenience Stores) we have for sale in the North State. I told him what was on the market, and in 2 days the client was back with the agent.....we looked at the property, and an offer is forthcoming. We split the commission 50-50%. Not bad for a residential agent that had never done a commercial deal. Had he just wanted to turn the client over to me, he would have gotten a 25% referral...not bad either. And, the bottom line, the customer is happy for he found the business he has been looking for.
Currently there are 32 C-Stores, most with gas, on the market from Willows, CA north to Oregon. These range in price from the smaller ones, often without the real estate, from $550,000 up to the big volume stores at $2.9. As a buyer you can have a number of choices in location, size, etc. Do you need to know something about the Convenience Store, for they look "so easy to run, and just make money". Yes, you can learn how to operate a good store, but just like every other business you work off of margins. And, the volume a store does may or may not tell the story, for again, expenses, the cost of product, etc...all add into the mix.
Where do you begin if you are interested? Often a local SBA office can give you some good advice on loans, etc.....or check with you agent and ask them to check it out. Even with the high gas prices, folks still need gas and food....so take a look at a Convenience Store for your business interest.
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