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Red Express Convenience Stores Gas Venango County Pa For Sale

Franklin, PA, Pennsylvania
Asking Price:
$4,300,000 Furniture / Fixtures included
Sales Revenue:
$10,000,000
Cash Flow:
$500K - $2.5M

Red Express is a chain of 3 convenience stores with gas located in Venango County, PA. The owners opened their first convenience store in Cranberry, PA in 1985 and remodeled that store in 2011. They built their second location in Seneca, PA in 1998. They opened their third location in Franklin, PA in 2006. The Franklin location includes an automated car wash.

In 2016, the 3 Red Express locations sold over 1.6M gallons of high margin gasoline. In addition to the standard offerings of a convenience store with gas, all three Red Express locations offer their own brand of fresh sandwiches, pastas, and pizza under the Bartolis Oven brand. They also offer fried chicken and other specialty foods freshly prepared onsite.

All 3 stores are licensed PA Lottery retail locations.

In addition, they own a Pennsylvania Wholesale Tobacco license, which they utilize for tobacco sales to their Red Express convenience stores. The Tobacco license is included in the sale.

All real estate is also included in the sale.

Complete financial information, including Tax Returns and Profit & Loss Statements, are available for qualified buyers upon signing a Confidentiality Agreement.

Price Reduced: The 3 Red Express stores were originally offered for sale at their appraised value of $5,340,000. The asking price has been reduced to $4,300,000. They also own and operate a transferable Dairy Queen franchise in Titusville, PA and a stand-alone automated car wash in Marienville, PA. The asking price for the Dairy Queen is $300,000 and for the Marienville Auto Spa is $200,000.

Property information

Real Estate:

Real Property Included

Location:

The 3 Red Express Convenience Stores with gas are located in: Cranberry, Seneca, and Franklin, PA.

The transferable Dairy Queen franchise is located in Titusville, PA and the stand-alone automated car wash is located in Marienville, PA.

Premises Details:

Appraisals were commissioned by the owners bank to assist with the sale. The firm who performed the 3 Red Express convenience store appraisals, Petroval, is based in Snellville, Georgia and specializes in appraising and valuing convenience stores across the country. The appraisals for the Dairy Queen and Auto Spa were performed by Reed Appraisal Services of Clarion, PA, which was founded in 1996. Copies of the complete October 2016 appraisals are available.

Business Operation

Expansion Potential:

The owners have demonstrated consistent and impressive growth.

Competition / Market:

The owners have successfully operated a very profitable chain of convenience stores with gas in the Venango County, PA market for over 30 years.

Reasons for selling:

Retirement

Trading hours:

Open 7 days a week and hours vary by location.

Employees:
47
Years established:
1985

Other Information

Support & training:

The Seller will be available for 30 days to assist in the transition of ownership as part of the purchase price.

The seller is also available for a mutually agreeable period of paid consulting.

Financing available:

None.

Inventory / Stock value:
$500,000

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