Business Description
Seller focuses on primarily on women's accessories presently and that runs the gamut of handbags, hand crafted jewelry, men's accessories including ties, travel bags, overnight kits, etc...t-shirt lines too. Presently 80% accessories sales, moving into more home goods and tourists goods these days to capture more sales from the visiting customer base. Seller forecasts it's theoretically possible to capture another 20% of walk through can increase sales another $50k a year top line. Busy 11-3 and post dinner traffic from 6-8pm+ depending on the day. Hours open are 11-8 M-Fri, Sat 10-9, Sun 11-7. Seller is an active owner operator and also has a manager that will stay with the Buyer as needed after closing. NDA is required for further details from Ace Business Brokers.
Additional Features
Inventory: Included in asking price
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: In a 600 square foot heavily trafficked street retail location. Huge foot traffic counts that start around 11am and lasts fairly steadily until the end of the night for the bars. Lease is 50% of his next door neighbor and has a 3 year initial term plus a 5 year option available.
Competition: Not very strong actually, sitting pretty.
Growth & Expansion: Buyer can add additional product lines or focus the business elsewhere as they see fit.
Financing: $70k Cash Down, $70k Financed Over 35 Months!
Support & Training: As needed. There is a store manager that is on site that will stay with the new Owner if wanted, or as a family enterprise the net income would be increased accordingly.
Reason for Selling: Relocation out of state.