SBA Pre-Qualified
Through a fifty-year operating history this business has supplied award winning gourmet high quality Indian food products (chutney, sauces, pastes and spices) to institutional food service, hotels and restaurant chains across the country. Sales are handled by top tier distributors with a significant presence in the food industry. The end user customers include several recognizable, high-profile brands.
All products are comprised of ingredients supplied by Indian multinational producers, packaged by a domestic packer. The Company offered the first Kosher certified products in this category in the United States. All recipes and formulations are proprietary, owned by The Company, and were developed in the Seller’s Kitchen.
All finished products (either packaged domestically or imported in bulk formulation) are warehoused by a third-party provider who also performs shipping services to end user customers as specified on purchase orders The Company receives from the two national food distributors who handle sales of the products.
The business currently requires a maximum of 5 hours management attention per day which makes this business potentially attractive as a part time endeavor. Primary management tasks include management of customer orders, inventory and supply chain management and accounting oversight.
The ideal buyer will have solid business acumen and an understanding of inventory and supply chain management and a familiarity of working with distributors. Website management and online marketing skills would be a plus.
The seller intends to retire.
Training offered after the close of escrow will consist of thirty hours per week for three weeks.
Prior to receiving the CIM, interested buyers must sign an NDA and present summary level financial capacity to successfully execute the transaction.
Facilities:
The business is suitable for operation from a home office, although the seller leases an office space out of personal preference.
Real Estate Available: No
Real Estate Included: No
Detailed Information:
Lender Prequalified: Yes
SBA Prequalified: Yes
Owner worked hours per week: 25
Market Competition: Competition in this industry is strong as many brands compete for attention in this category. The Company’s competitive advantage is the offering of products comprised of traditional recipes that utilize fresh, authentic geographically sourced ingredients, and business relationships with suppliers and distributors that span decades.
