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Upscale Consignment Resale Store
North CarolinaListing DetailsOffice ID: FASHION1
Status: Sold
Listing Broker: Joe Vagnone
Listing Price: $425,000
Gross Revenue: $1,013,799
Cash Flow: $165,681
FF&E Included: Yes
Sales Structure: Asset Sale
Seller Financing: Yes
TBD: Owner will consider some financing to the right, qualified buyer.
Absentee Owner: Yes
Reason for Sale:
Owner is retiring, pursuing other interests.
Seller will train a new owner for 1 Year.
OperationsYear Established: 2007
Form of Ownership: LLC
Employees (full-time): 3
Employees (part-time): 14
Managers: 1
Business Hours: Mon–Thu 10am–6pm, Fri 10am–7pm, Sat 10am–6pm, Sun12–5pm
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 business community, this is an award-winning business recognized as being the best in the market area.
Historical Summary:
This business, established in 2007, is a licensee of the company for which it is named. That company was established in 2005, and enjoys a wonderful name & reputation throughout the USA.
Owner Qualifications:
Basic Business Management: P&L review, marketing, business planning, purchasing, knowledge of fashion.
Although there are many competitors in the market area, this business distinguishes itself on the basis of service, being price competitive, and selling superior designer merchandise.
Potential Growth:
The growth potential of this business is substantial with a new owner that would invest more into e-commerce, and invest more into digital marketing.
LocationType of Location: Strip Center
Real Estate for Sale: Yes
Lease Expires: Oct 31, 2017
Option: See Lease Copy
Monthly Rent: $9,288
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: Dec 18, 2017 / 11:53 AM
Financial Information Current As Of: May 11, 2017 / 2:54 PM