Location: Northwest Michigan
Industry: Specialty Retail
Listing ID: AH230519BJ
This specialty gourmet food and gift retail store has a more than 50-year history of success. The prior owners of this company are highly recognized for building successful brands which have prospered across Michigan.
These well-known Michigan products are the mainstay of the business. These same regionally recognized brands are sold in the company’s retail store, located in a prime area where the focus is on serving tourists. In addition to their storefront, the products are sold online and at partner locations making for a much-admired marketing system.
While the food products account the majority of revenue, gift boxes and gift items are offered as well.
Total Sales: $559,090
Cash Flow: $65,775
FFE: $15,019 (Included in Price)
Training & Support:
Owner will provide transition assistance to the new owner.
Year Established: 1966
Year of Last Acquisition: 2008
Owner Hours Per Week: Monday – Friday: 9:30am – 5:30pm & Saturday – Sunday: 9:30am – 5:00pm. Summer and December: Monday-Friday 9:30am – 7:00pm & Saturday – Sunday: 9:30am – 5:00pm
Lease Option: Renewal 9/30/19
Monthly Rent: $4,500
Type of Location: Retail Strip
Square Footage: 3,600
Located in one of the prime locations in this city, on the main road. The location has a full storefront with plenty of space for production, a large shipping area, and significant storage. The entire space is 40’ x 80’, with additional storage on the second floor (approximately 10’ x 40’). About half of the main floor is retail space, the remainder is used for production and storage. There are two double doors in the back of the location for easy delivery and shipping. One set of double doors opens up to allow for pallet deliveries of various products. This is essential when large orders are delivered. The office is located in the back of the occupied space.
There are 2 competitors in this market.
The current owner has refined the business and delivered substantial growth while adding scores of success stories to the company’s history. The result of these successes has quickened the pace at which the business operates while continuing to push forward with new opportunities. The owner has additional plans and ideas for the future certain to grow the business even further. The possible addition of another retail location is part of their growth strategy; at the same time the company also contemplates pushing and capitalizing on aspects of today’s normal operations such as online sales and developing further corporate gift boxes sales.
Corporate gift boxes grew 33% from 2017 to 2018, while there was a 40% increase in online sales during 2018 with some SEO enhancements.
SBA financing provides excellent rates and terms.