Listing ID: 78790
Business: Amazing business opportunity for anyone wanting to open or just add to their already existing bridal, tuxedo and formal wear retail shop. 3floors with hundred of bridal, prom gowns, bridesmaid and mother of the bride dresses, flower girl, formal dresses, shoes, jewelry and display equipment included in this great price. MLS# 4840759 – $119,000 – Or purchase the business and building together for $229,000
Building: You will love this well cared for building located in a desirable area of downtown Berlin. The electrical wiring has been completely upgraded, anew heating system recently installed with a new chimney liner 12/20/20. The building houses a thriving family-owned business that has been operating for over half a century and is the home of a bridal, tuxedo and formal wear retail shop. This building can become the home of your own business, or for an additional price of $119,000.00 the retail shop (including fixtures and current inventory) which has a stellar reputation and an abundance of repeat customers throughout the North Country, can be yours. The building has a total of three floors. The first floor comprises of a large retail space currently housing the formal wear, shoes, prom gowns, bridesmaid and mother of the bride dresses, together with 6 dressing rooms, a pedestal modeling area, and an office in the back. The second floor also has a large open retail space with 3 dressing rooms, and currently houses the bridal gowns, shoes, accessories and flower girl dresses. The third floor makes for an ideal space for cold storage. This is truly one of Berlin’s finest retail buildings. MLS# 4840758 – $119,000 – Or purchase the business and building together for $229,000
- Asking Price: $225,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals decide to sell operating businesses. However, the genuine reason and the one they say to you may be 2 absolutely different things. For instance, they may claim "I have too many various responsibilities" or "I am retiring". For lots of sellers, these reasons stand. But, for some, these may just be justifications to attempt to conceal the reality of transforming demographics, increased competitors, recent reduction in profits, or a variety of other factors. This is why it is very essential that you not rely entirely on a seller's word, however rather, make use of the vendor's solution in conjunction with your overall due diligence. This will repaint a much more practical picture of the business's current situation.
Existing Debts and Future Obligations
If the current company is in debt, which many companies are, then you will certainly need to consider this when valuating/preparing your deal. Many operating businesses finance loans in order to cover points like inventory, payroll, accounts payable, and so on. Bear in mind that occasionally this can suggest that earnings margins are too small. Many organisations 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 commitments to think about. There may be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with vendors that have to be satisfied or may lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the location attract brand-new customers? Often times, operating businesses have repeat customers, which develop the core of their daily revenues. Certain factors such as new competitors growing up around the area, roadway building and construction, and also employee turn over can influence repeat customers as well as negatively affect future earnings. One important point to take into consideration is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the main road? Undoubtedly, the more people that see the business regularly, the greater the possibility to develop a returning client base. A last idea is the basic area demographics. Is the business situated in a densely inhabited city, or is it located on the outskirts of town? How might the local average home income effect future earnings prospects?