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Investors, Alternative financing needed in hopes of saving history
Posted by: Shelly Musgrove on 1/26/2010 8:31:03 PM
Funding Needed:
Under $100k 		Category:
Retail / Distribution 		Website :
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Location :
Pennsylvania, USA 		Viewed : 171 times
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Description:
I am looking for investors, or alternative financing to purchase a retail/convenience store in Greensburg, Pennsylvania. The store has been there since 1927 and has prospered for many years. The current owner offered this business to me shortly after purchasing it 3 years ago due to lack of passion. I have worked in this store for the last 3 years, learning it and upon agreement to attempt to purchase this business, I was granted priviledge to all books/deposits/invoices. The taxes filed with the IRS do not match what the business potential is, making conventional financing impossible. The net profit after ALL expenses based upon a 7 year ammortization at 12% as well as all salaries and cost of goods rests at approximately 80,000. Any ideas are greatly appreciated. All ideas welcome and repayment is negotiable. This business is located in the heart of the Historical District as well as in the center of 3 Colleges. State and County office buildings employing several hundred employees are the majority of well established clientele. Verizon offices and local residents supply additional clientele as well as marketable clientele. Clientele includes judges, District Attorney's office, Coroner's office, and many other upscale businesses in the area. Being a lottery retailer this business guarantees a 5% commision on the gross sales, and the lottery is the primary source of income for this business. Budget and projections forms available upon request as well as a full business plan with resumes.

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