Underwritten
Edition No. 7 · No. 03 of 5 · Free edition

Party & variety goods store

Burlington County, NJ · name withheld in the free edition Why no names?

PROCEED WITH CONDITIONSProceed, with three conditions.Cheaper than 91% of 11 similar businesses.
Asking price$300kas listed
Revenue$530kas listed
SDE$153kas listed, a 29% margin
If a manager runs it-$25kto$171kour rebuild, about 5 hrs a week
Hours with a manager~5 hrsa week, our estimate
Price over SDE2.0xsimilar listings: 2.3x
Contents

1What you're buying

  1. 25 years selling party goods inside New Jersey's biggest flea market.

    Party supplies, bingo gear for the senior groups and tour buses, baking staples - the niche nobody else in the market may sell, per a lease clause worth reading.

  2. The landlord brings every customer.

    The 1929-vintage Columbus Farmers Market generates all foot traffic across a four-day week - the company converts it at 5.0 stars.

  3. A husband-and-wife team is the whole operation.

    The floor, the buying, the stocking. Our numbers price one replacement seat at $64,900 and say so about the second pair of hands.

2Two ways to own it

If you run it
$40kto$236k
~59 hrs / week · your own week, our estimate
Someone else runs it
-$25kto$171k
~5 hrs / week · after paying a $65k manager
Straddles the question: at the conservative end the business does not pay a manager.

The manager case prices ONE $64,900 seat against a two-person family operation - a buyer couple absorbs the second seat; a solo buyer budgets part-time counter help on top.

Both ranges are our estimate, not the seller's figure. Each starts at its careful end.

3What the listing doesn't tell you

  1. The rent.

    Inside-store rents at this market are published nowhere. The lease - yearly, landlord-approved, allegedly exclusive - is the entire deal, and it is not in the listing.

  2. The other earnings number.

    A second published version says about $131K. The listing quotes the higher one.

Two of 6 findings. The rest are in the full file.

4The price and the verdict

2.0x the seller's SDE; the middle of similar listings is 2.3x.

Based on asking prices, not completed sales.

PROCEED WITH CONDITIONS3 conditions before an offer

+In the full file

Premium opens these for every deal in this edition and the four before it.

The 3 conditions before an offerPremium

Each one written out, with what would close it before an offer.

The desk's notePremium

What we like and what worries us, then the business, the earnings, the price, the risks and what to do this week.

The name and the listingPremium

Resolved by the desk to a name and an address; the original listing and the broker are in the member file. Why no names?

Questions for the brokerPremium

Written from the conditions and the open checks, in the order we would ask them.

What we could not establishPremium

What no document we found decides, and the document that would.

The model and the research trailPro

Five-year projections per basis with the downside, the scenario workbook, and every check with its evidence.

The full file

The name, the three conditions, and the questions for the broker.

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1,000 listings screened, 5 published · Edition No. 7, 12 August 2026. We have no stake in whether any deal closes.

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