Listing ID: 77060
This Business has been grooming local dogs and cats in this busy location for over 25 years. Their services include the standard grooming, bathing, brushing, ear cleaning, nail clipping, and pet massage as well as add-on services such as deshedding, microchipping, dental cleaning and pet photography.They earned great customer loyalty: they have a robust clientele of over 2,400 active clients who own 3,300+ pets. Many have been with them for over 10 years!
The salon is clean, organized, and all the equipment is well-maintained and in fantastic condition. They have 4 hydraulic grooming tables, an onsite washer and dryer, large pet washtubs, holding cages, cage dryers, and much more. It’s located on a high-visibility, high-traffic corner … the perfect place to leave your pet as you’re running errands or commuting to work. Their employees, 2 full-time groomers and 1 part-time bather, are all well-trained and have been with the company for many years.
The owner has long been ready for retirement and has been managing the business part-time for the last 5 years. This makes a great opportunity for an energetic Buyer looking to enter or expand into the pet care business. A new owner can take this strong customer base and grow it to the next level. First, open the shop an 3 additional days per week (currently closed 3 days per week). Next, the current owner does zero advertising, instead relying on her established customer base. Introduce social media, modernize the website, market the business, and watch the pet count soar … and when you’re ready, there’s space to add additional grooming stations to meet the demand!
This business is a fantastic opportunity for the right Buyer: they have a steady flow of loyal, local pet owners who give this business 5-star ratings. COVID increased pet ownership to an all-time high of 70% of U.S. households, so what are you waiting for? Reach out to the Agent today!
- Asking Price: $70,000
- Cash Flow: $34,852
- Gross Revenue: $158,634
- EBITDA: N/A
- FF&E: N/A
- Inventory: $1,500
- Inventory Included: N/A
- Established: 1996
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,200
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
The business was started in 1996, making the business 26 years old.
The transaction shall not include inventory valued at $1,500*, which ins't included in the suggested price.
The company has 3 employees and is located in a building with estimated square footage of 1,200 sq ft.
The building is leased by the company for $2,476 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals resolve to sell businesses. Nonetheless, the genuine reason and the one they say to you might be 2 completely different things. As an example, they may claim "I have too many various commitments" or "I am retiring". For numerous sellers, these reasons are valid. But, for some, these might just be reasons to try to conceal the reality of altering demographics, increased competition, current reduction in profits, or a variety of various other reasons. This is why it is really vital that you not count absolutely on a vendor's word, however instead, make use of the seller's solution together with your overall due diligence. This will paint a much more reasonable image of the business's present circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your offer. Many companies borrow money so as to cover points such as stock, payroll, accounts payable, and so on. Remember that in some cases this can mean that profit margins are too thin. Many companies fall into a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to take into consideration. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with suppliers that must be fulfilled or may cause penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location draw in brand-new consumers? Many times, operating businesses have repeat consumers, which form the core of their daily profits. Particular variables such as new competitors sprouting up around the location, road construction, as well as personnel turn over can affect repeat clients and also adversely influence future revenues. One crucial point to take into consideration is the location of the business. Is it in a highly trafficked shopping mall, or is it hidden from the main road? Undoubtedly, the more individuals that see the business on a regular basis, 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 located on the edge of town? Exactly how might the regional mean household income effect future income prospects?