Listing ID: 84028
Highly profitable optical boutique in affluent north shore town. Established over 40 years, the shop has a loyal local following, draws on heavy tourist traffic, and has potential for even more growth. Store sells the TOP designer brand names which are perfect for this affluent community.
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- Asking Price: $965,000
- Cash Flow: $503,000
- Gross Revenue: $1,317,200
- EBITDA: N/A
- FF&E: $45,000
- Inventory: $125,000
- Inventory Included: N/A
- Established: 1978
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:750
- Lot Size:N/A
- Total Number of Employees:2
- Furniture, Fixtures and Equipment:N/A
Highly-visible storefront in busy upscale boutique location for over 40 years! Plenty of parking available as well as heavy pedestrian traffic. Store includes space for grinding, repairs, and diagnostic equipment. Large displays show off the designer and trend-setting eyewear, including major sunglass lines, and make excellent use of floor space.
Seller will fully train the buyer and will stay on for as long as needed by the buyer for a smooth transition. Experienced staff members are already in place. Buyer need not be licensed but a licensed optician needs to be on the premises according to Massachusetts law.)
Business is in prime location with little competition. Product lines include exclusive brands that strictly limit outlets so that customers from far and wide must visit this store. Store does not compete with eye doctors and optometrists by offering eye tests so that eye care professionals refer all their patients to this business.
Store is open five days per week. (Closed Sunday and Monday) Hours can be expanded to six or seven days and one or more evenings to grown sales.
The company was started in 1978, making the business 44 years old.
The deal doesn't include inventory valued at $125,000*, which ins't included in the suggested price.
The company has 2 employees and resides in a building with estimated square footage of 750 sq ft.
The property is leased by the business for $2,833 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons people decide to sell operating businesses. Nonetheless, the true factor vs the one they tell you may be 2 totally different things. As an example, they may state "I have a lot of other responsibilities" or "I am retiring". For many sellers, these reasons stand. However, for some, these might simply be excuses to try to conceal the reality of changing demographics, increased competitors, current reduction in incomes, or a variety of various other reasons. This is why it is extremely vital that you not depend completely on a vendor's word, however rather, utilize the vendor's answer in conjunction with your total due diligence. This will paint a much more reasonable image of the business's present circumstance.
Existing Debts and Future Obligations
If the current entity is in debt, which lots of companies are, then you will have reason to consider this when valuating/preparing your offer. Lots of operating businesses take out loans so as to cover things like supplies, payroll, accounts payable, and so on. Keep in mind that sometimes this can mean that revenue margins are too small. Numerous businesses fall into a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may likewise be future obligations to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business may have existing contracts with vendors that have to be met or might lead to charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the area bring in brand-new consumers? Most times, companies have repeat consumers, which form the core of their everyday profits. Certain variables such as new competitors growing up around the area, road building and construction, and staff turn over can influence repeat consumers and adversely influence future profits. One vital point to consider is the area of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the highway? Obviously, the more people that see the business regularly, the better the opportunity to construct a returning customer base. A last idea is the basic location demographics. Is the business situated in a densely populated city, or is it situated on the edge of town? Just how might the regional median family earnings influence future revenue potential?