Listing ID: 80941
Business Overview
This 30+ year-old business is the area’s “Go-To” flower and gift shop, providing floral design, consulting, and arrangements for consumers and businesses throughout the region.
From a retail perspective, the shop checks all the boxes: highly visible, located in an easily accessible shopping center, facing a major thoroughfare with plenty of parking, etc. Demographically, this community is rapidly growing, both in size and affluence.
More important though, is the position this business maintains in the mind of consumers, consultants, and allied businesses, (wedding & memorial) that have continued to contribute to the shop’s success through repeat purchases and referrals.
The next owner will benefit from a great reputation and a leadership role in a tight knit community.
Locally, the Reno, Sparks, and Carson City area has a small town feel with a big city attitude. The city offers excellent shopping and dining options, robust nightlife offerings, high-performance schools, including a Tier 1 University with over 25,000 students—and is just a half hour from beautiful Lake Tahoe.
From a Business perspective, Northern Nevada is highly regarded as a pro-business, low-tax environment that appeals to a wide range of business and industry. With no personal, corporate, franchise, estate, inheritance, or inventory tax, it is no wonder that Nevada ranks as the #7 Most Business-Friendly Tax Climate.
Financial
- Asking Price: $208,000
- Cash Flow: $108,824
- Gross Revenue: $363,133
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1995
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:5
- Furniture, Fixtures and Equipment:N/A
Leased, $1,898 month
2 Weeks
Retirement/Health
Located in a highly visible spot with other longstanding businesses in same area. Strong, positive reputation in the community and beyond; repeat customers send word-of-mouth referrals to this business.
Business has a great, informative website that makes the business easy to find online in an area that is growing in wealth and technical sophistication. The business has a nascent subscription service to build a recurring revenue stream.
Additional Info
The business was started in 1995, making the business 27 years old.
The business has 5 employees and is situated in a building with estimated square footage of N/A sq ft.
The real estate is leased by the company for $1,898 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons why people resolve to sell companies. However, the real reason vs the one they say to you might be 2 entirely different things. For instance, they may state "I have way too many various commitments" or "I am retiring". For many sellers, these factors stand. However, for some, these may just be justifications to attempt to hide the reality of changing demographics, increased competition, current decrease in profits, or a range of other factors. This is why it is very important that you not rely entirely on a seller's word, however rather, use the vendor's response in conjunction with your overall due diligence. This will paint a more realistic image of the business's present circumstance.
Existing Debts and Future Obligations
If the existing entity is in debt, which numerous businesses are, then you will have reason to consider this when valuating/preparing your offer. Many operating businesses borrow money with the purpose of covering things such as inventory, payroll, accounts payable, and so on. Bear in mind that in some cases this can imply that earnings margins are too small. Lots of businesses fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may also be future commitments to take into consideration. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with suppliers that have to be met or might cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the location bring in brand-new consumers? Many times, businesses have repeat clients, which develop the core of their daily profits. Certain aspects such as new competitors sprouting up around the location, road building and construction, and personnel turn over can affect repeat consumers and also adversely impact future incomes. One vital thing to take into consideration is the area of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the main road? Certainly, the more individuals that see the business on a regular basis, the higher the possibility to develop a returning client base. A final thought is the basic area demographics. Is the business placed in a densely inhabited city, or is it situated on the outskirts of town? Just how might the neighborhood average house income effect future earnings prospects?
