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Business For Sale
RETAIL - SPORTING GOODS
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Asking Price: |
Not Available |
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Business for Sale Industry: |
Retail: Sporting
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Reason for Selling:
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Retirement |
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Year Established:
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1978 |
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# of Employees:
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14 |
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Yearly Revenues:
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$1,200,000 |
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Yearly Cash Flow:
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$155,790 |
Business for Sale Overview:
Our client, established in 1978 as an S-Corporation in the state of Iowa, specializing in the sales and services of sporting goods equipment, apparel and shoes. The company has a diverse line of products, in addition to offering team sales and a variety of services to maintain sports equipment. The company’s product line consists of shoes (41% of 2006 revenue), sports equipment and services (22%), men’s clothing (16%), team related purchases (12%), women’s clothing (5%), and children’s clothing (4%). Our client’s customers consist of general retail (75% of 2006 revenue) high schools (10%), university students (10%), teams and sports clubs (5%). In 2006 the largest customer accounted for only 7% of sales. The company leases 4,230 square feet of retail, office, and storage located in the local mall. The lease, from a third part, was established in 1978 and expires in 2009. In addition to the owner, who works 5 hours to 20 hours per week, there are 4 full time and 10 part-time personnel. The owner has enjoyed building an innovative and successful organization. At this time, the owner would like to pursue possible retirement as well as find a suitable acquirer that can guide the company to reach its full potential. The owner is agreeable to working with new ownership post transaction to ensure a smooth transition and business continuity.
Property Features and Assets:
4,230 sq ft retail, office and storage space in local mall.
Market Competition and Expansion:
Limited competition in the area; Diverse customer base.
Additional Details:
- 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 resale opportunity.
- This is not a distressed business or bankruptcy situation.
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