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Upstate New York ... World Class Resort
Asking - $220,000 Cash Flow - $ 55,000
THE BUSINESS: This established and profitable retailer of fine contemporary art, crafts and jewelry, - including pottery, wall decorations and miscellaneous upscale gifts, - has great visibility on Main Street in a high traffic site in a four season resort community of world renown. Its merchandise is an eclectic selection of the unusual and the beautiful. For 14 years this upscale retail boutique has drawn many upscale clients who are residents, second home owners or tourists to the area for its sports, cultural or forest related pleasures, or just the beautiful lake. The community embodies growth, congenial lifestyle, excellent schools and nearby recreational amenities. There is a loyal and talented staff that serves many repeat customers.
WHY BUY?
FACILITIES: The 1700 square foot modern store is double wide on a busy main street sector where its high ceiling plate glass façade attractively displays its unique wares. Modern track lighting provides highlight illumination to free standing shelves, jewelry displays, check-out counter and wall shelves that dramatically presents sculpture, clocks, flat, crafts, etc. The leased facility has a back stockroom for inventory and bookkeeping, with two rest rooms.
OPPORTUNITY: Ideal for a youthful retired couple or young entrepreneur; this is cash based, fun business with excellent variety that deals with nice people relating to nice things. The dependable current profitability pairs with established high visibility location to represent growth potential. Modest working capital needs compliment an easily learned business that is well established. Live in a nice area, raise a family and enjoy nationally known recreational attractions. Proximity to Montreal, Canada and Burlington, Vermont add full cultural diversity.
FINANCIAL: Sales of this mature cash based business have averaged $ 325,000 annually with a dependable 45% gross profit. Rent from a large resort landlord is $ 3,250 a month and the owner’s time commitment to the business is variable due to the availability of skilled part time staff. There is a very credible anticipation of $ 350,000 in sales in 2008 and cash flow approaching $ 60,000 based on current trend and great “location, location …location”. Inventory of over $100,000 is available as part of the package.
| Recast and Pro-Forma Income Statement Highlights | ||||||
| Fiscal Years Ended March 31, ($000's) | ||||||
| Pro-Forma | ||||||
| Internal | Owner Fcst | 1st Year | ||||
| 2004 | 2005 | 2006 | 2007 | 2008 | New Owner | |
| Net Sales | $ 346.7 | $ 312.4 | $ 321.9 | $ 318.0 | $ 349.8 |
$ 349.8 |
| Gross Margin | $ 155.2 | $ 140.4 | $ 144.2 | $ 150.9 | $ 157.4 |
$ 157.4 |
| % to net sales | 44.8% | 44.9% | 44.8% | 47.5% | 45.0% |
45.0% |
| Operating Expenses | $ 81.9 | $ 81.3 | $ 86.6 | $ 97.4 | $ 106.0 |
$ 100.0 |
| % to net sales | 23.6% | 26.0% | 26.9% | 30.6% | 30.3% |
28.6% |
| Business Cash Flow (1) | $73.3 | $59.1 | $57.6 | $53.6 | $58.4 |
$57.4 |
| % to net sales | 21.1% | 18.9% | 17.9% | 16.8% | 16.7% |
16.4% |
| (1) Recast Earnings before Interest Expense, Depreciation, Taxes, Certain Non-Recurring items, Officer's Compensation and Other Officer Benefits. | ||||||
SUMMARY, PRICE AND TERMS:
The business is offered for $ 220,000, which includes a cost value of transferred inventory that is estimated to be $ 100,000 (with price to be adjusted for actual inventory cost value at closing). Commercial bank finance, perhaps with SBA support, is available to a credentialed retail qualified person who would be expected to have appropriate background in retailing, and cash for investment and working capital of about $ 55,000. Owner will assist turnover and provide guidance for a reasonable transition period.To view other featured business opportunities, click on a link below.
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