Listing ID: 80974
Looking for the opportunity to connect with the creative arts community? Most all inventory is unique to the area. This store has a long standing, good reputation and clientele in the business and art community, with loyal customers from the surrounding area as well as the Lake Tahoe and SF Bay Area. There is plenty of room to expand with the use of online business, off site events, additional operating hours, on site art events and additional advertising. The business has a contact list to assist direct marketing, special events and advertising.
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’s no wonder that Nevada ranks #7 Most Business-Friendly Tax Climate.
- Asking Price: $175,000
- Cash Flow: $41,653
- Gross Revenue: $232,972
- EBITDA: N/A
- FF&E: $8,000
- Inventory: $52,000
- Inventory Included: Yes
- Established: 2006
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:900
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
Leased 1,683 per month 900 Sq. Ft.
This business is very unique and fills a niche in the community. There are no other stores like this in the area. The central location allows for great access.
There is plenty of room to expand with the use of online business, off site events, additional operating hours, on-site art events and additional advertising.
The business was founded in 2006, making the business 16 years old.
The transaction does include inventory valued at $52,000, which is included in the requested price.
The company has 1 employees and is located in a building with estimated square footage of 900 sq ft.
The real estate is leased by the business for $1,683 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons people choose to sell companies. However, the real reason vs the one they tell you might be 2 absolutely different things. As an example, they might claim "I have way too many other commitments" or "I am retiring". For lots of sellers, these reasons stand. But also, for some, these might just be excuses to try to conceal the reality of changing demographics, increased competition, recent reduction in revenues, or a range of various other reasons. This is why it is very vital that you not rely completely on a vendor's word, but rather, use the vendor's response combined with your total due diligence. This will paint a much more reasonable picture of the business's existing scenario.
Existing Debts and Future Obligations
If the current business is in debt, which lots of businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Many operating businesses take out loans with the purpose of covering points such as supplies, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can indicate that earnings margins are too thin. Many companies fall into a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may additionally be future commitments to consider. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with suppliers that need to be met or might lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location bring in brand-new customers? Many times, companies have repeat customers, which create the core of their daily revenues. Specific variables such as brand-new competition sprouting up around the location, road building, as well as employee turnover can impact repeat customers and adversely influence future earnings. One vital point to take into consideration is the area of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Certainly, the more individuals that see the business often, the greater the chance to build a returning client base. A last idea is the general area demographics. Is the business located in a densely populated city, or is it situated on the edge of town? Exactly how might the regional mean household income impact future income prospects?