Entrepreneurial Opportunity 2021-02: Project Starlight

This project is now closed and accepting no new inquiries. Please contact Corrina Haynes, haynes@tiffinseneca.org, to be placed on the email list for future opportunities.

Read full press release here (9/1/2021): “Tiffin business owner plans to retire, seeks to sell business.”

Basic Information

  • Type of Opportunity: Retail business and real estate purchase, management or investment.
  • Opportunity ID: TSEO 2021-02, Project Starlight.
  • Date posted: September 1, 2021.
  • Date closed: December 31, 2021.
  • To indicate interest or for more information: contact Audrey Flood at flood@tiffinseneca.org or 419.561.0244.

Description

A successful, profitable retail business within the City of Tiffin that has been in operation for generations is currently for sale. The owner is looking to sell all components of the businesses including inventory, equipment, information, with employees, as well as to sell the property itself which includes a 3,700 square foot building and parking lot. The owner is ready to retire but would love to see the business continue, and they are even willing to provide some transitional mentoring and training to assist an entrepreneur who may be looking to learn on the job.

Sale Terms

  • Business for Sale: The asking price for the business is $250,000. This is a turn-key opportunity and would include everything from the inventory, equipment, customers, employees, etc.
  • Real Estate for Sale: The asking price for the real estate is $300,000. It includes one-third acre of land and building currently housing the business, including an 8,000 sf parking lot. The owner is willing to consider leasing the property to the new businesses owner until they are willing to purchase it. The property is in one of the most heavily trafficked commercial areas of Tiffin.
  • Timing: Owner would like to identify someone to take over the business in 2021.

Income & Support

  • Annual Earnings: Estimated annual profit is $110,000.
  • Support: The current business owner could potentially provide mentoring.

How to Explore the Opportunity

  • Contact TSEP Staff if you are interested: Contact TSEP Development Manager Audrey Flood at flood@tiffinseneca.org or by phone at 419.561.0244 to discuss your interest as a potential entrepreneur and/or investor.
  • Incentives & Resources: There are a number of finance and other incentive programs which may be able to assist. Contact TSEP to discuss. Check out business financing resources and general small business resources here.