Listing ID: 74848
Great gift shop in Palm Springs with a huge selection of greeting cards, party supplies, small gifts, jewelry, bumper stickers and much more. This store is really large with so much to see you don’t know where to look first. While many items carried in the store are LGBT related there is truly something for everyone. They also have section in the store that is dedicated to adult items DVD’s, toys and other erotica items. This is an established business of 22 years with many repeat customers. This is a great opportunity to be your own boss! Please call broker to get more details on this property
This information, while not guaranteed, has been obtained from sources deemed reliable. Buyer must verify the information and bear all risks for any inaccuracies. DRE #01366091 00006221
- Asking Price: $399,000
- Cash Flow: $123,847
- Gross Revenue: $515,562
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2019
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,200
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
Will train for an agreed amount of time for a smooth transition.
Other business interest.
The venture was started in 2019, making the business 3 years old.
The business has 3 employees and is located in a building with approx. square footage of 3,200 sq ft.
The real estate is leased by the company for $3,485 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals resolve to sell companies. Nonetheless, the genuine factor vs the one they tell you might be 2 completely different things. For instance, they may state "I have too many other commitments" or "I am retiring". For many sellers, these factors stand. But also, for some, these might simply be reasons to try to conceal the reality of transforming demographics, increased competitors, recent decrease in earnings, or a variety of other reasons. This is why it is extremely vital that you not rely entirely on a vendor's word, yet instead, make use of the vendor's answer together with your total due diligence. This will repaint a much more reasonable picture of the business's present circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which many businesses are, then you will need to consider this when valuating/preparing your offer. Lots of companies take out loans in order to cover items like inventory, payroll, accounts payable, so on and so forth. Keep in mind that sometimes this can suggest that revenue margins are too tight. Lots of organisations fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may also be future obligations to think about. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with suppliers that should be fulfilled or might result in penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the location attract new clients? Many times, operating businesses have repeat clients, which develop the core of their everyday earnings. Specific factors such as new competitors growing up around the location, road building and construction, as well as employee turnover can impact repeat consumers as well as adversely affect future earnings. One vital thing to consider is the placement of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Undoubtedly, the more people that see the business on a regular basis, the better the chance to develop a returning customer base. A last idea is the general area demographics. Is the business located in a densely inhabited city, or is it located on the edge of town? Just how might the regional median house earnings effect future earnings prospects?