Reduced!!! Party / Wedding Retail Product Store
NCListing DetailsOffice ID: RETAIL1
Listing Broker: Charles (Chuck) Russitano, CPA
Listing Price: $175,000
Cash Flow: $78,098
Inventory Included: No
FF&E Included: No
Sales Structure: Asset Sale
Financing/Terms:Seller will provide financing as required by SBA. Seller will not finance more than 20%.
Reason for Sale:Owner has worked in the operation for the last 15 years and is ready for retirement.
OperationsYear Established: 1982
Employees (full-time): 8
Business Hours: 9:00 to 7:00 M - Th, 9:00 to 6:00 Friday, 9:00 to 5:00 Saturday and closed on Sunday
Business Description:Retail store that has been a locally owned family business for over 20 years, with current owner taking ownership in 1998. They offer custom wedding invitations, banners and bows, as well as a large selection of bakery, catering, party and wedding supplies of all kinds.
Historical Summary:Business moved to its current location in 1995 and evolved into more of a retail business with a greater variety of products. Major product categories are bakery, catering, party supplies and wedding invitations/supplies. Current local market position is estimated to be 20% of potential sales.
Owner Qualifications:The new owner should be able to function in a retail environment dealing daily with the general public.
Competition:Walmart, Dollar Stores, Party City, Sams Club and Costco are seen as the competition in this space. They have some purchasing power advantage and cater more towards kids party supplies. They are also restricted on items they can carry because of thier ownership structure. This business has no restrictions on product lines and is a member of a purchasing cooperative making prices much more competitive. Buying group membership is transferable to new owners.
Potential Growth:The company currently does not sell over the internet. Internet traffic and sales over the internet have skyrocketed over the last decade.
LocationReal Estate for Sale: Yes
Option: 5 year option
Monthly Rent: $7,600
Square Footage: 8000
The store is located in a strip mall with 2 other tenants. The facilty is 8,000 sqft with ample parking available. The majority of product for sale resides on the store shelves. Some storage is available. There are no CAM charges, tenant pays rent only and lease is assignable.
Last Updated: Dec 18, 2017 / 11:53 AM
Financial Information Current As Of: Nov 30, -0001 / 12:00 AM