Listing ID: 82762
This thriving retail florist is in the established and growing city of Charlotte. The business has a strong team of experienced designers, sales, and delivery staff supporting a profitable customer base. This is a great business with many opportunities. Clean books, procedures, and systems in place for new owners. They deliver flowers of superior quality and value with exceptional customer service. This retail shop has been serving the Charlotte region for over 25 years with customer satisfaction.
- Asking Price: $350,000
- Cash Flow: $186,223
- Gross Revenue: $500,930
- EBITDA: N/A
- FF&E: $26,300
- Inventory: $45,950
- Inventory Included: N/A
- Established: 1995
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
Located close to town with a large display cooler. Very large work area comfortably accommodating additional designers and staff for busy holidays as well as significant floral cooler storage space needed for efficient running of the business (recent downgrades). Owners have made major investments in modernizing the business through modifying cooler for efficient utilization, delivery service strategy, website & internet presence, operational procedures and efficiency which have resulted in higher profit margins and business strengths.
Owner will support the new owners with four weeks of their time to help transition. Owner has produced extensive documentation and efficiency that make the running of the business significantly easier for new owners. Owner is willing to provide additional time/training if necessary to new owners (up to 6 months) to help them succeed at the business.
Concentrating on family.
Non-compete 20 miles for 3 years.
Plenty of growth opportunities for new owners as current owners have not made any real effort to tackle the substantial wedding or events markets and local businesses. More opportunities to be had with expanding corporate clients.
The company was started in 1995, making the business 27 years old.
The sale doesn't include inventory valued at $45,950*, which ins't included in the requested price.
Why is the Current Owner Selling The Business?
There are all types of reasons individuals choose to sell businesses. Nevertheless, the genuine reason vs the one they tell you might be 2 completely different things. As an example, they might say "I have way too many various responsibilities" or "I am retiring". For lots of sellers, these factors are valid. But also, for some, these might simply be excuses to try to hide the reality of changing demographics, increased competitors, recent reduction in earnings, or a range of other factors. This is why it is very essential that you not count totally on a seller's word, yet instead, make use of the vendor's answer along with your overall due diligence. This will paint an extra reasonable image of the business's present situation.
Existing Debts and Future Obligations
If the existing company is in debt, which many companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Many operating businesses take out loans so as to cover items like supplies, payroll, accounts payable, so on and so forth. Keep in mind that occasionally this can suggest that profit margins are too tight. Lots of businesses come under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may also be future commitments to consider. There might be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with vendors that have to be fulfilled or might result in penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the area bring in brand-new customers? Most times, companies have repeat clients, which form the core of their everyday revenues. Particular aspects such as new competitors sprouting up around the area, road building, as well as personnel turnover can influence repeat consumers as well as negatively influence future profits. One essential point to take into consideration is the placement of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Certainly, the more individuals that see the business often, the better the chance to construct a returning customer base. A final idea is the basic location demographics. Is the business placed in a largely inhabited city, or is it located on the edge of town? How might the neighborhood median household income impact future revenue prospects?