Business For Sale

Clothing Retailer For Sale in Statesboro, Gerogia!

Not Disclosed, GA
Bulloch County


Asking Price: Annual Revenue:
$139,000 $146,000

Retail: Clothing & Accessories


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RE: Clothing Retailer For Sale in Statesboro, Gerogia! Broker: Jacob Jones

Quick Facts

Asking Price: $139,000
Annual Revenue: $146,000
Net Profit: Not Disclosed
Cash Flow: $38,119
Total Debt: Not Disclosed
FF&E: $20,000
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: Not Disclosed
BBN Listing #: 969652907
Broker Reference #: 57971-941373

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Business Overview:

With nearly 50 years of experience in the clothing industry, this long-standing clothing retailer has all the key advantages that make going into business advantageous:

•Great Reputation
•Growing Market
•Excellent Location
•Large Inventory
•Established Vendor Relationships

Seller is selling due to retirement. They are willing to sign a non-compete agreement and provide the new owner with 1 month of training at no additional cost. All offers will be presented.

If interested, please contact Jacob Jones with Transworld Business Advisors for further details.

To request more information regarding this listing, simply check the ADD TO REQUEST INFO BASKET button and when you are done searching and have made all your selections, simply click on the REQUEST INFO button at the bottom of the page.

Property Features and Assets:

Founded in Statesboro, Georgia in 1978, Bridal Creations has been one of South Georgia’s primary destinations for wedding gowns, prom dresses, and clothing for special affairs. The owner has been passionate about her business and the local communities during her time. The current owner has been the sole proprietor and also has been at the same location for 40 years. For any potential buyers, this business offers the stability of a high-margin industry, a large inventory; a great building located in down town Statesboro with an amazing landlord, a growing market, and established vendor relationships in place to serve the South-East coast.

Market Competition and Expansion:

The $4 Billion Prom Industry: By The Numbers When it's prom season, the American teenage rite of passage that marks a time of celebration, stressful corsage pinnings, precarious high-heel experiments, and very serious spending. Here, a guide to the highly profitable prom business, by the numbers: $4 billion Estimated value of the American prom industry, $1,500 Prom night rental fee for a stretch SUV limo that can accommodate 14 people, in Virginia, $750 Rental fee for the same SUV limo on any other night of the year. When asked about the price discrepancy, an employee of the Virginia company said, "Teenagers are horrible." $13,997 Cost of the diamond-studded, "most expensive prom dress ever" on offer from Philadelphia-based company, Dress Goddess, $400 Cost of the average prom dress, $45,000 Cost of renting San Diego's Broadway Pier and tranforming it into a reasonable replica of Pandora, the fictional planet in Avatar, for San Marcos High School's graduates, $542 Average amount a family in the South will spend on prom, according to VISA's 2011 prom spending survey, $667 Average amount a family in the Northeast will spend on prom, $943 Average amount a family in the Midwest will spend on prom, $1,073 Average amount a family in the West will spend on prom, $778 Average amount parents with a combined income of less than $50,000 will spend on prom, $916 Average amount parents with a combined income of more than $50,000 will spend on prom, $3,000 Amount one suburban New York mother spent on her 15-year-old's first prom, which included teeth whitening, hair extensions, makeup, and, of course, the dress. http://theweek.com/articles/484419/4-billion-prom-industry-by-numbers The Wedding Industry, 2017 & Beyond The average cost of a wedding reached an all-time high of $32,329, according to The Knot 2016 Real Weddings Study, which surveyed 13,000 brides and grooms across the United States. That’s good news for the 300,000-plus wedding vendors operating in the U.S., including ceremony and reception venues, DJs, coordinators, photographers, caterers, hair and make-up artists, limo drivers, and more. Wedding Industry Statistics Thanks to a stronger economy and higher discretionary incomes, the U.S. wedding industry edged higher to hit $72 billion in revenue in 2016, according to a report by IBISWorld. However, the wedding industry hasn’t always had a bright outlook. In the last five years, wedding service providers have grappled with a unique mix of limitations. Wedding budgets dropped due to the high unemployment rates that lingered after the recession. At the same time, many people returned to school and postponed their weddings. Not only that, more and more couples are waiting longer to get married and are choosing to live together before marriage — factors that drive down the overall marriage rate. In 1960, 72 percent of all adults 18 and older were married. In 2012, the marriage rate was just 51 percent, U.S. News and World Report found. With fewer couples getting married, wedding vendors have a smaller pool of customers to draw from. The DIY Wedding Trend Wedding planners, in particular, have faced declining demand, as more couples embraced a do-it-yourself approach. However, a stronger economic environment will help counterbalance this decrease to a certain extent. IBISWorld estimates that revenue for wedding planners “will decline at a slower rate over the five years to 2021.” Although rustic weddings held in barns and other DIY settings have been popular, consumer preferences may swing back to a more formal approach. “Brides are starting to say, ‘my friend, cousin and big sister did that, I am going to do something different,” notes Anne Chertoff, a trend expert at WeddingWire, in an article on CNN Money. The Role of the Internet The Internet has also changed how brides and grooms research wedding vendors. Approximately 64 percent of brides use Pinterest to find inspiration, and many couples plan their weddings through apps and mobile devices. With the rise of the sharing economy, more brides and bridesmaids are comfortable renting a dress, rather than purchasing a dress for one-time use. Competition from retailers such as Rent the Runway will force more traditional bridal stores to boost their appeal. In the coming years, bridal stores “are expected to increasingly invest in labor to provide superior customer service and differentiate from online retailers,” according to IBISWorld. https://blog.marketresearch.com/the-wedding-industry-in-2017-and-beyond Economy in Statesboro, Georgia Statesboro has an unemployment rate of 8.9%. The US average is 5.2%. Statesboro has seen the job market increase by 2.4% over the last year. Future job growth over the next ten years is predicted to be 35.9%, which is lower than the US average of 38.0%. Tax Rates for Statesboro - The Sales Tax Rate for Statesboro is 7.0%. The US average is 6.0%. - The Income Tax Rate for Statesboro is 6.0%. The US average is 4.6%. Income and Salaries for Statesboro - The average income of a Statesboro resident is $12,077 a year. The US average is $28,555 a year. - The Median household income of a Statesboro resident is $22,196 a year. The US average is $53,482 a year.

Reason for Selling:

Retiring

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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