TSEO 2024-01: Project Valiant

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Basic Information

  • Type of Opportunity: Service Business and Real Estate

  • Opportunity ID: Project Valiant (TSEO 2024-01)

  • Posting Date: April 10, 2024

  • Closing Date: June 10, 2024 or when the seller comes to an agreement with the prospective buyer, whichever comes first.

Description of the Opportunity

  • The owner of an established and well-regarded Tiffin-area business is seeking to retire and would like to pass on their business to a new entrepreneur.

  • Over the course of 25 years this business has built a reputation for quality and friendly service.

  • The business currently earns approximately $50,000/year on rent.

  • The company has a large existing and loyal customer base.

  • 8 rented spaces out of a possible 9.

Terms

  • Asking Price: $140,000 for the business. Included with purchase: supplies, and furnishings.

  • $249,000 for real estate. Building description: 1,352 square feet last remodeled in 2021. Currently houses one additional commercial tenant, serving a complimentary clientele, in a rented room. Two other rooms are available for rent.

  • Timing: as soon as possible.

  • Financing: The buyer should be able to bring their own financing to the table; however, the seller is willing to consider establishing a payment plan for possible buyers on a case-by-case basis.

  • Ongoing Support: The seller is willing to stay on to help the new owner learn about the business’s operations. Additionally, they would like to stay on renter in the space.

How to Explore the Opportunity

  • Step 1: Pre-Qualification. Contact Adam Gillmor, TSEP Development Manager, at gillmor@tiffinseneca.org or by phone at 419.447.3831 to discuss your interest in the opportunity.

  • Step 2: Further Discussion: After pre-qualification by TSEP, your name and contact information will be passed along to the business owner, who will initiate further discussion if interested.

  • Step 3: Due Diligence. After connecting with the pre-qualified entrepreneurs and businesses of their choosing, the manufacturer will either select one and begin discussions, and the due diligence process will begin for both the seller and purchaser.

  • Step 4: Deal. If due diligence goes well, then the parties will move forward with the deal according to agreed-upon terms. 

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