Toronto, Ontario, Canada, ID 204317
Small grocery store available for sale in an outstanding location within the York University campus mall, York Lanes. This location was the most recent store opened, launching only one year before campus operations were disrupted by Covid. The business had not yet completed two full fiscal years before being affected. Student traffic has gradually returned over the past several years, with recovery progressing slowly. Without the disruption, the store was projected to reach break-even by the second year while accounting for approximately $50,000 in amortization and a management salary of nearly $60,000. Similar locations typically require four years to achieve peak sales performance. This site has the highest walk-by traffic volume among the portfolio, and another comparable store on a smaller campus generates very strong sales. This offering is structured as an asset sale based on the value of the store equipment and improvements. The original build-out cost exceeded $500,000 in 2018. Current estimates to develop a comparable location are approximately $675,000, with equipment lead times of 9 to 11 months. Buyers interested in reviewing performance from more established locations will be required to sign an NDA before financial details are provided. Sales in 2023: 552,000 Gross Profit: 165,546 Sales in 2024: 417,053 Gross Profit: 153,852 The store is currently staffed by students and would benefit significantly from an active owner-operator. Another comparable location on a smaller campus generates sales exceeding $1.5 million annually. The ideal purchaser should have food retail ownership experience, and grocery store ownership experience may also be required. Strong financial capacity will need to be verified and approved by York University. Two previous potential buyers were not approved by the university due to insufficient experience or inadequate financial backing.
