Business Overview

Founded over 50 years ago and specializing in professional attire and men’s clothing for memorable occasions, this established Fine Clothier has been dressing the men of Tulsa with a focus on the best national brands while providing excellent customer service. Family owned and operated, most of the business has come from tuxedo rentals from black tie events and weddings along with a big annual prom business. Same day service, alterations, delivery services and free gift wrap are also offered.

Financial

  • Asking Price: $339,000
  • Cash Flow: $119,809
  • Gross Revenue: $374,917
  • EBITDA: N/A
  • FF&E: $80,000
  • Inventory: $75,000
  • Inventory Included: Yes
  • Established: N/A

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:3,100
  • Lot Size:N/A
  • Total Number of Employees:4
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

High traffic location in the same highly visible retail center for many years. Good equipment package with opportunities for some cosmetic upgrades under new ownership with Landlord's support.

Is Support & Training Included:

30-90 days as needed after closing.

Purpose For Selling:

Retirement

Pros and Cons:

Competition is established in the marketplace, but limited.

Opportunities and Growth:

Opportunities for growth in several areas under new ownership.

Additional Info

The deal shall include inventory valued at $75,000, which is included in the suggested price.

The business has 4 employees and is situated in a building with approx. square footage of 3,100 sq ft.
The real estate is leased by the business for $3,100 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons people resolve to sell operating businesses. Nonetheless, the true reason and the one they say to you might be 2 entirely different things. For instance, they might say "I have a lot of various obligations" or "I am retiring". For lots of sellers, these factors are valid. But also, for some, these might just be justifications to attempt to conceal the reality of altering demographics, increased competitors, recent reduction in earnings, or a variety of other factors. This is why it is extremely vital that you not rely totally on a seller's word, but instead, utilize the seller's response together with your general due diligence. This will paint an extra sensible picture of the business's present scenario.

Existing Debts and Future Obligations

If the current entity is in debt, which many businesses are, then you will need to consider this when valuating/preparing your offer. Lots of operating businesses take out loans so as to cover items such as supplies, payroll, accounts payable, etc. Remember that sometimes this can mean that profit margins are too thin. Lots of businesses come under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may likewise be future obligations to think about. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with vendors that should be satisfied or may cause fines if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Just how do businesses in the area draw in new customers? Most times, businesses have repeat clients, which create the core of their everyday earnings. Certain variables such as new competitors growing up around the area, roadway construction, and also personnel turnover can impact repeat consumers and also adversely impact future revenues. One crucial point to consider is the location of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Certainly, the more individuals that see the business on a regular basis, the higher the possibility to build a returning consumer base. A final thought is the general area demographics. Is the business situated in a largely populated city, or is it situated on the edge of town? Just how might the local median household income effect future earnings prospects?