Business Overview

Unique opportunity to own an established and successful gift shop in the heart of Washington, DC. The business has been established for over 40 years with thousands of loyal customers. This is THE go-to spot for downtown workers and visitors with an incredible customer base throughout the region and beyond. The store features a variety of offbeat gifts, toys, jewelry, greeting cards, chocolate, and more!

The business was closed for a long period (March 2020 through July 2021) due to the pandemic, but has re-opened as things start to improve in the DC area. Now is the time to buy a business like this to capitalize on the upcoming holiday season and purchase a great business for a fraction of its true value. We have a virtual tour of the space and business financials available upon completion of our Buyers Package. Any interested parties are encouraged to visit the business in person, confidentially as a customer as well.

***Please note, the revenue and cash flow numbers listed are from 2019, which was the most recent year the business was open for a full calendar year.***

Don’t let such an incredible opportunity to purchase a well known business like this pass you by. Contact us today to learn more!

Financial

  • Asking Price: $115,000
  • Cash Flow: $112,700
  • Gross Revenue: $998,337
  • EBITDA: N/A
  • FF&E: $50,000
  • Inventory: $160,000
  • Inventory Included: N/A
  • Established: 1978

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:N/A
  • Lot Size:N/A
  • Total Number of Employees:5
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

The business is situated on the first floor of a Class A office building in downtown DC. The shop has great visibility with high levels of pedestrian and vehicle traffic. The landlords love the business and have worked with the seller throughout the pandemic to ensure the business reopened, which it did in Aug 2021. The landlords are willing to offer favorable lease terms and incentives to the buyer/new owner to make sure this business can continue to thrive!

Is Support & Training Included:

Seller will provide necessary training and support.

Purpose For Selling:

The owner is looking to retire.

Pros and Cons:

There is standard competition for the industry and market.

Opportunities and Growth:

There are several ways a new owner could grow the business. The owner has not spent much time or effort on marketing or advertising the business so there are opportunities to do so through traditional mediums as well as on social media to capture more customers. Another opportunity would be to expand the hours as the business is currently only open Monday - Friday with some expanded hours around the holidays.

Additional Info

The venture was established in 1978, making the business 44 years old.
The sale won't include inventory valued at $160,000*, which ins't included in the suggested price.

The company has 5 employees and is located in a building with estimated square footage of N/A sq ft.
The property is leased by the business for $0.00

Why is the Current Owner Selling The Business?

There are all kinds of reasons why individuals resolve to sell businesses. However, the real reason vs the one they tell you might be 2 totally different things. As an example, they might claim "I have too many various responsibilities" or "I am retiring". For lots of sellers, these reasons are valid. However, for some, these may simply be excuses to attempt to conceal the reality of changing demographics, increased competitors, recent reduction in revenues, or an array of various other reasons. This is why it is extremely essential that you not rely entirely on a vendor's word, yet rather, utilize the seller's solution together with your general due diligence. This will repaint a more practical picture of the business's existing situation.

Existing Debts and Future Obligations

If the current business is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Lots of businesses borrow money so as to cover things such as supplies, payroll, accounts payable, etc. Remember that sometimes this can mean that profit margins are too small. Numerous businesses fall under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future obligations to consider. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with vendors that must be met or might lead to charges if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do companies in the location draw in new customers? Often times, companies have repeat customers, which develop the core of their everyday earnings. Specific variables such as brand-new competition growing up around the location, road building and construction, and staff turn over can affect repeat clients and adversely influence future earnings. One essential point to consider is the placement of the business. Is it in a highly trafficked shopping mall, or is it concealed from the main road? Obviously, the more people that see the business often, the better the opportunity to construct a returning consumer base. A last thought is the general area demographics. Is the business placed in a densely populated city, or is it situated on the outside border of town? Exactly how might the neighborhood mean home earnings impact future revenue prospects?