Business Overview

*** Confidential Listing, not in indicated county***
This 4-year-old store has been experiencing explosive growth, averaging over 40% per
year! In 2021, sales increased 65% over 2020 sales.
The store is conveniently located just off a major interstate highway with lots of free
parking. Their product lines include both men’s and women’s athletic, casual, dress
and work shoes from 25 nationally known brands, but more importantly, they also sell
custom orthotics, custom shoe modifications, and many over the counter arch supports
that help or eliminate pain caused by plantar fasciitis, achilles tendonosis, and many
other foot problems. They currently use their onsite Pedorthic lab to do minor
adjustments and customizing of over-the-counter arch supports. Their lab is capable of
doing custom orthotics but they currently send their custom work to a central
fabrication lab elsewhere in the state.
In addition to regular footwear, this store offers specialized footwear and devices for
those suffering from all sorts of foot pain, including plantar fasciitis, metatarsalgia,
Achilles tendonitis, hallux valgus, plantar warts, hammer toe, bunions and more.
Because of this wide range of extra services, they are much more than just a shoe store.
They literally have no competition anywhere in their state. Customers drive to them
from hours away and many are referred to them by their physicians.
Being in New England, this store specializes in keeping their customer’s feet
warm with custom insoles that have heating pads as well as boots that are rated to
-40F. Many of their winter boots and shoes are fitted with ingenious hide-away cleats
that fold back into the boot when not needed.
Other products include steel-toed work boots (with special widths up to 6E), which are
required by many area employers.
*** Confidential Listing, not in indicated county***

Financial

  • Asking Price: $550,000
  • Cash Flow: $220,000
  • Gross Revenue: $1,100,000
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: $275,000
  • Inventory Included: N/A
  • Established: 2018

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:2
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

Seller will train the buyer in making orthotics and other devices.

Purpose For Selling:

Retirement

Additional Info

The company was founded in 2018, making the business 4 years old.
The transaction won't include inventory valued at $275,000*, which ins't included in the asking price.

The business has 2 ft., 2 pt. employees and is located in a building with disclosed square footage of N/A sq ft.
The building is leased by the business for $1,588 per Month

Why is the Current Owner Selling The Business?

There are all types of reasons people resolve to sell companies. Nevertheless, the real reason vs the one they say to you may be 2 absolutely different things. For instance, they might state "I have way too many other responsibilities" or "I am retiring". For many sellers, these factors are valid. However, for some, these might simply be justifications to try to conceal the reality of altering demographics, increased competitors, current reduction in incomes, or an array of various other reasons. This is why it is very vital that you not depend totally on a seller's word, but instead, utilize the vendor's answer in conjunction with your total due diligence. This will paint an extra sensible picture of the business's present situation.

Existing Debts and Future Obligations

If the current company is in debt, which numerous businesses are, then you will certainly need to consider this when valuating/preparing your deal. Lots of businesses take out loans with the purpose of covering items like inventory, payroll, accounts payable, and so on. Bear in mind that in some cases this can imply that earnings margins are too tight. Many companies fall into a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future commitments to take into consideration. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing agreements with suppliers that must be met or may lead to penalties if canceled early.

Understanding the Customer Base, Competition and Area Demographics

How do operating businesses in the area bring in brand-new customers? Many times, businesses have repeat consumers, which create the core of their everyday earnings. Particular aspects such as brand-new competitors sprouting up around the area, roadway building, as well as staff turn over can impact repeat consumers and also negatively impact future profits. One vital point to think about is the placement of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Clearly, the more people that see the business regularly, the greater the opportunity to build a returning consumer base. A last idea is the basic location demographics. Is the business located in a largely inhabited city, or is it located on the outskirts of town? How might the local mean home income influence future income prospects?