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Connecticut Business For Sale |
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| WOMEN'S APPAREL & ACCESSORY STORE |
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| Attn: C. J. (Charlie) Vlahos |
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| Winsted, CT, USA |
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| Asking Price: |
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$159,900 USD USA Dollars |
| Business for Sale Industry: |
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Retail: Clothing & Accessories |
| Reason for Selling: |
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Other Interests. |
| Year Established: |
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1971 |
| # of Employees: |
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5 part timers |
| Yearly Cash Flow: |
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$92,400 |
| Yearly Gross Income: |
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$684,500 |
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Business for Sale Overview:
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This business sells women's contemporary apparel, handcrafted sterling silver jewelry, multiple gift lines - something for everybody - all kinds of ladies accessories - something new all the time. The Owner bought the business in 1974 and after 33 years, the Owner wants to do something else. Hours of operation are: Monday thru Friday 9:30 to 8:00, Saturday 9:30 to 6:00, and Sunday 12:00 to 4:00. The Owner works regular hours along with 5 long time part timers. For example one of the employees had been here 30 years, the others 10, 6 and 4+. Sales in 2006 were over $684,000 and Owner’s Cash Flow over $92,000.
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Property Features and Assets:
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The business has 4,066 sq.ft. in a storefront of a 26 store shopping center in Winsted, CT. There is no problem with parking and access to the center is easy in and easy out. The business is located at the end of Route 8 on Route 44. The lease is a fair lease - especially for this A+ location. Base rent is $3,049.50. R.E. Taxes & CAM charges are $1,179.14 for a total rent of $4,228.64/month. The base rent is only $9.00 per sq.ft.! There are 2 years remaining in the present lease. Base rent is fixed for both these years. Obviously a new lease will need to be negotiated with the landlord. Any Offer presented would be contingent on an acceptable lease being obtained. The business is being offered at $159,900 plus inventory of +/- $150,000.
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Market Competition and Expansion:
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If an Offer is made at the asking price, financing 1/3 of the purchase price over 3 years at 10% interest might be considered. The note would need some sort of security other than the business, be personally guaranteed and be approved by Owner's lawyer/accountant. |
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Additional Details:
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- The property is leased.
- The owner is willing to train/assist the new owner.
- The owner is not willing to work for the new owner.
- This is not a homebased business opportunity.
- This is not a franchise opportunity.
- This is not a distressed business or bankruptcy situation.
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