Location: Northwest Michigan
Industry: Retail Clothing Store
Listing ID: CK240620PC
This is a growing, successful and profitable specialized clothing business that continues to gain popularity with Millennials. Since its opening, the business has seen consistent annual sales and positive net operating profits each year. Despite the recent economic hardship of COVID-19, causing the closing of the store for about two months, the store’s results were close to 2019, even estimating $100,000 loss in sales due to COVID-19. 2021 was a record year for revenue and profits.
In late 2021, the owners hired a professional Store Manager that has a Masters Degree in Fashion Merchandising and years of experience in the retail industry. Since bringing him on board, they have seen a 30% increase in sales for November and December 2021.
Business is being offered at a very reasonable price that is below its valuation because owners are seeking new opportunities.
Total Sales: $935,500
Cash Flow: $265,607
FFE: $27,127 (Included in Price)
Reason For Sale:
Pursue New Challenges
Training & Support:
Owner will provide necessary training and support during a transition period.
Year Established: 2012
Absentee Owner?: Yes
Lease Option: Expires 12/31/24, Option to Extend to 12/31/27
Monthly Rent: 4793
Type of Location: Retail Shopping Center
Square Footage: 4500
Limited – Competitors come and go, but most only last a year or two and then they close their doors.
Overall growth opportunities are good to excellent. Owner has several suggestions that can be implemented to provide growth opportunities.
Owner willing to provide some seller financing to allow acquirer to secure SBA financing