Upscale Profitable Consignment Store
North CarolinaListing DetailsOffice ID: FASHION3
Listing Broker: Joe Vagnone
Listing Price: $460,000
Gross Revenue: $921,271
Cash Flow: $228,850
FF&E Included: Yes
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:Owner will consider some financing to the right, qualified buyer.
Reason for Sale:Seller is retiring.
Training:Seller will train a new owner. Length of time and salary required are negotiable.
OperationsYear Established: 2007
Last Acquired: 2017
Form of Ownership: S Corp
Employees (full-time): 3
Employees (part-time): 16
Business Hours: Mon–Thu & Sat 10 am – 6 pm, Fri 10 am – 7 pm, Sun 12 – 5 pm
Business Description:An upscale consignment store in the heart of Lake Norman, this business is a profitable, well-run business that has enjoyed significant growth every year since opening it doors in 2007. Distinguishing itself from area competition, this store is one of the largest in the area, selling both men’s and women’s shoes, clothing and accessories – all name brands, consisting of mall department brands and above. The business carries items for teens up to seniors, with a core market to 30-60-year-olds. A leader in the community, in a prime location, this business has seen significant growth of the online business despite the on-going pandemic. Your inquiry today is the first step to owning this business!
Historical Summary:This business was purchased from the previous founder in 2017. The previous owner founded the business in 2007.
Owner Qualifications:Basic business management: P&L review, marketing, business planning, purchasing, knowledge of fashion and retail.
Competition:Although there are many competitors in the market area, this business distinguishes itself on the basis of service, being price competitive, selling superior designer merchandise, and the store environment - this store has a welcoming "boutique" feel.
Potential Growth:The growth potential of this business is substantial with a new owner willing to invest more into e-commerce and digital marketing.
LocationType of Location: Strip Center
Lease Expires: Oct 31, 2022
Monthly Rent: $11,619
Square Footage: 7200
This business is located in an extremely vibrant, busy strip mall. 100%%%% of the facility\'s 7,200 sf is utilized.
Last Updated: Aug 29, 2021 / 12:45 PM
Financial Information Current As Of: Aug 25, 2021 / 2:18 PM