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Highly Profitable Online Grocery Business For Sale

Bukit Timah, Singapore
Asking Price:
$700,000 (USD) Inventory / Stock included
Sales Revenue:
$2,000,000 (USD)
Cash Flow:
Available on request

Before there was Honest Bee or Red Mart, there was Kenny Grocery! A thriving business that opened decades ago is now available for a new owner to take over.

Previously, Kenny Grocery was fully inundated with orders via the phones, but in the last year, Kenny has added the option for customers to order via their own proprietary e-commerce website (www.kennygroceryonline.com)

The business is being sold "lock, stock, barrell". But, here are a list of some of the things you will get with the business:
~ $350,000 worth of inventory at cost.
~ all the fixtures and fittings (about $20,000-30,000)
~ all the social media, websites, etc
~ all the vans used for the delivery of the groceries islandwide (worth more than $200,000 not included in sale price)
~13/14 staff (mostly Singaporeans) who have been with the company for a long time
~ database of customers (4,000-5,000 phone contacts, 1000s online contacts)
~ etc etc etc

Why you should purchase this business?:
~ A nice, tidy profit margin: unlike other ecommerce businesses, Kenny does not believe in "loss leading" to gain market share. His business is old school, and so there is a nice profit margin.
~ The online grocery market is still in its infancy in Singapore. Start early and reap the benefits thereof.
~ A proven track record of an established business. Why reinvent the wheel and possibly go wrong when you can simply purchase something that works beautifully and just make it bigger and better?
~ With little money spent, online sales has grown 50% compared to its start a year ago.
~ Making Kenny bigger and better is easy: the shop does 80% of its business through telephone calls, and 20% off of online orders, spend some money to target the digital generation, and the business can only go up, up, and up.

Are you looking for a profitable business to purchase? Are you looking to enter the Online Grocery scene in Singapore but need a proven vehicle to minimise your downside? Are you looking for a business with alot more upside?

Property information

Location:

Currently, located in a corner terrace house off of Bukit Timah

Business Operation

Expansion Potential:

You can move premises to a lower rental but central place while upscaling the digital marketing of the business to customers who are more tech savvy. Upscale revenue and downscale rent.

Competition / Market:

Grocery shopping is becoming digitalised (think Honest Bee, Red Mart). Online grocery shopping in Singapore is still its infancy. With a business like Kenny Grocery, you can begin to build your online grocery shopping juggernaut.

Reasons for selling:

Owner is retiring

Employees:
about 13
Years established:
20 years

Other Information

Support & training:

Owner is willing to stay on to train the new buyer

Furniture / Fixtures value:
$150,000 (USD)
Inventory / Stock value:
$250,000 (USD) - included in the asking price
Website:
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Relocatable:
This business can be relocated.

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