Boutique Gifts & Housewares

Halifax, Nova Scotia

Asking Price: Annual Revenue:
$215,000 $319,881

Retail: Florists, Gifts, Cards, Books

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RE: Boutique Gifts & Housewares Broker: Mark Pothier

Quick Facts

Asking Price: $215,000
Annual Revenue: $319,881
Net Profit: Not Disclosed
Cash Flow: $102,282
Total Debt: Not Disclosed
FF&E: $17,454
Real Estate: Not Disclosed
Year Established: 2013
Employees: 2
BBN Listing #: 15084955
Broker Reference #: 9201-16326

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Business Overview:

This independently owned boutique offers an array of contemporary and handmade items. With sincerity and great attention to detail, they choose items for the shop that are unique, well-made, stylish yet affordable. The product mix includes unique home decor items, paper goods, jewelry and accessories, baby gifts, confections and a new Gift Box Service. Customers want to showcase their personal style and we give them an opportunity to meet those needs.

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Property Features and Assets:

Housed in a relatively new multi-unit residential building, with ground floor commercial, the store is approximately 950 square feet of ground floor with open mezzanine. The lease is scheduled to end September 30 2021 and there is an additional 5-year option to renew. The rent is $2,554.95 per month until the end of the current term. The renewal rate is at market rates at time of renewal. The lease includes: Water / Storage unit / One parking spot. The tenant is responsible for: Power to the premises / Winter maintenance of sidewalk / Storefront windows. assets = $70,372.

Market Competition and Expansion:

There are a few other independently owned gift and home decor stores here in greater Halifax, but this company is one of the longest running successful businesses of this nature. Other stores have focused more on local products, larger home decor items or solely eco-friendly lines and have not combined the mix of well-made, interesting and stylish lifestyle conscious products. For that reason, they have a dedicated following that comes to them first for their gifting needs often stating, “I can always find something great here.” There is a large opportunity for growth in the E-commerce side of the business. The online shop has been only fully operational since May of 2020 and has not been highly advertised or optimized. Sales could be greatly expanded through this platform as customers are shopping more and more online. Operational costs are also lower online creating a greater bottom line for the new owners. Additionally, opportunity exists to participate in Drop Shipping with multiple suppliers further saving on costs. There is room for limitless growth when looking outside of the current customer base and reaching customers in new markets across Canada through online advertising and promotions. The owner currently works with local producers and makers to create a line of products under their Own brand Heading, from candles and soaps, to glassware, to tea towels that can all be sold in other locations if desired or expanded upon if the new owner/owners have the desire. The Gift Box service has only just been introduced at the shop allowing customers to easily send a curated selection of gifts anywhere in Canada. A new market of curated gift boxes has exploded in the last two years online allowing customers to easily send thoughtfully selected gift items for any occasion: Birthdays, New Home, Baby Gifts, Bereavement, Retirement and Get-Well packages. Advertising and promotion of this service has never been done and provides an excellent opportunity for expansion under the new owners with very little input of time or money. There is also ample opportunity to partner with local interior designers, home stagers and real estate agents to further promote its services. Additionally, a second location could be added to better serve other parts of the city or surrounding area.

Reason for Selling:

Owners have started a family.

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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