Business Overview

We are pleased to offer you this unique opportunity to own a well established, popular, and profitable specialty home furnishing and gift retail business. The business generates approximately 70% of its revenues from its retail sales and about 30% from it design services. One of the principal owners provides the interior design expertise and services through the store. Her unique focus is mixing her love of the rare with the ordinary, and the old with the new in order to create a client’s unique style. They are known for their outstanding work at the Dallas Arboretum where they have been contributing their floral design expertise and creates floral arrangements that are unique and natural with free flowing lines.

The impact of COVID-19 forced the owners to switch to smaller home goods instead of the larger furniture related items the store has historically sold. This business fashions itself as being “flashy ornamentation” and suggests what the establishment offers in its items for sale – high design for home and for life! They pride themselves in offering the finest lighting, home furnishings & decor and gifts, along with design services. The business benefits from being centrally located in a historic district with strong foot traffic. Several years ago, the state deemed this PID district as an “Arts District” and with it has continued to experience huge growth development with multi-million dollar large projects. The latest is just being completed at over $25 million, and is located adjacent to the property. This is one of many such ventures and is another reason that this district is in such high demand, with continued projected growth.

This business enjoys an ideal location in Plano. It is in the heart of a high density walking district that is occupied with quaint retail shops, restaurants, and other specialty stores. The owners are passionate about unique retail concepts and are committed to help ensure the success of the buyer by committing to training and transitional support. They are amenable to staying onboard for a period after closing at a rate to be negotiated.

Financial

  • Asking Price: $150,000
  • Cash Flow: $142,390
  • Gross Revenue: $435,472
  • EBITDA: $55,365
  • FF&E: $31,320
  • Inventory: $102,665
  • Inventory Included: N/A
  • Established: 2009

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:2,400
  • Lot Size:N/A
  • Total Number of Employees:5
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

Building is also for sale. This business operates out of a highly visible, beautifully restored, and historically significant Art Deco building offering 2,400 square foot of retail and work space. In addition, there is an attached 525 square foot contained courtyard that is adjacent to the public pedestrian walkway. This building is located in the historic business district of downtown Plano, Texas. The sellers have meticulously remodeled the space a few years ago, including gutting the entire building, replacing the roof, plumbing, electrical, HVAC, fire sprinkler system, windows, and completing all new finish out on the interiors. At that time, the entire exterior was restored to the original Art Deco Design, including new custom freeze guard tile. Additionally, the architecture offers aluminum awnings, a stainless steel parapet and neon lights that wrap the entire building. All of the code requirements are met which uniquely qualifies this structure to be deemed historically contributing, both by the city and county, to the Historic district of Plano and Collin County. This honor enjoys a perpetual 50% property tax credit eligibility.

Purpose For Selling:

Owners are retiring

Opportunities and Growth:

We believe this business could leverage several growth opportunities such as the addition of eCommerce its website and the potential addition of an online presence on Amamzon.com, designkollective.com and potentially Ebay.com.

Additional Info

The company was founded in 2009, making the business 13 years old.
The deal doesn't include inventory valued at $102,665*, which ins't included in the listing price.

The business has 5 employees and resides in a building with estimated square footage of 2,400 sq ft.
The real estate is leased by the business for $5,583 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons people decide to sell businesses. However, the true reason vs the one they say to you might be 2 totally different things. As an example, they may state "I have way too many various responsibilities" or "I am retiring". For many sellers, these reasons stand. However, for some, these might simply be justifications to try to hide the reality of transforming demographics, increased competitors, current decrease in earnings, or a variety of various other reasons. This is why it is very vital that you not count totally on a vendor's word, however instead, make use of the seller's answer combined with your overall due diligence. This will repaint a more practical image of the business's existing circumstance.

Existing Debts and Future Obligations

If the existing entity is in debt, which lots of companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Lots of companies finance loans so as to cover things like inventory, payroll, accounts payable, etc. Bear in mind that in some cases this can mean that earnings margins are too small. Many businesses fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may additionally be future obligations to consider. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing agreements with vendors that should be met or may lead to penalties if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do companies in the area draw in new consumers? Often times, businesses have repeat customers, which develop the core of their day-to-day revenues. Certain aspects such as new competitors sprouting up around the area, road construction, as well as employee turnover can influence repeat customers and negatively impact future revenues. One essential point to take into consideration is the placement of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the highway? Clearly, the more individuals that see the business regularly, the higher the possibility to develop a returning customer base. A final thought is the general area demographics. Is the business located in a largely populated city, or is it situated on the outskirts of town? Just how might the neighborhood median home income effect future earnings potential?