Listing ID: 81029

Business Overview

This is a well established business (over 10 years) with a good inventory. Tuxedo’s – all colors and sizes for rent or sale. All Accessories as well. Recognized Name in the Industry. Under $100,000 total sales price. Good reasonable lease – or if necessary the business could be moved. Profitable and Fun. Seasonal to some extent but traffic year-round. Reason for selling – Owner moving totally into a different enterprise. If Interest, please call Anna. We will try and work with any bona-fide buyer.

Financial

  • Asking Price: $165,500
  • Cash Flow: $65,000
  • Gross Revenue: $300,000
  • EBITDA: $50,000
  • FF&E: $50,000
  • Inventory: N/A
  • Inventory Included: Yes
  • Established: 2008

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:2,600
  • Lot Size:N/A
  • Total Number of Employees:1
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

There are actually two locations. One location is smaller and could be bought without inventory if you wanted to do another type of business and take over the space. Good lease can be transferred to new owner. SEPARATE SALE !

Is Support & Training Included:

Will include in the sale 40 hours of hands on training and available by phone up to a month after closing.

Purpose For Selling:

Owner wants to pursue his real estate license business and get out of retail.

Pros and Cons:

There are a couple of decent competitions in town....but this is a long established store.

Opportunities and Growth:

New excited owners have some room for growth and expanded advertising could increase sales.

Additional Info

The company was founded in 2008, making the business 14 years old.

The business has 1 employees and resides in a building with approx. square footage of 2,600 sq ft.
The property is leased by the business for $0.77 per Month

Why is the Current Owner Selling The Business?

There are all kinds of reasons why people choose to sell companies. However, the true reason and the one they tell you may be 2 completely different things. As an example, they may say "I have too many other obligations" or "I am retiring". For many sellers, these factors are valid. But also, for some, these might simply be excuses to try to hide the reality of transforming demographics, increased competition, recent decrease in incomes, or an array of various other reasons. This is why it is extremely vital that you not count absolutely on a vendor's word, yet rather, use the seller's response combined with your overall due diligence. This will paint a much more practical image of the business's existing situation.

Existing Debts and Future Obligations

If the current company is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of companies borrow money with the purpose of covering items such as supplies, payroll, accounts payable, and so on. Keep in mind that in some cases this can suggest that revenue margins are too tight. Many organisations fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future obligations to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with suppliers that have to be met or may result in fines if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do companies in the location attract brand-new clients? Often times, operating businesses have repeat customers, which form the core of their day-to-day earnings. Particular factors such as brand-new competitors growing up around the area, road construction, as well as personnel turnover can impact repeat consumers and negatively affect future profits. One vital thing to consider is the area of the business. Is it in a highly trafficked shopping mall, or is it hidden from the main road? Obviously, the more individuals that see the business regularly, the better the chance to build a returning customer base. A last thought is the general area demographics. Is the business situated in a densely populated city, or is it located on the outside border of town? Exactly how might the local mean house earnings influence future earnings prospects?