Business For Sale

Co-Retailing Business, Rent + Commission Income

Chicago, IL
Cook County

Asking Price: Annual Revenue:
$295,000 $1,084,787

Retail: Non-classifiable

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RE: Co-Retailing Business, Rent + Commission Income Broker: Dennis

Quick Facts

Asking Price: $295,000
Annual Revenue: $1,084,787
Net Profit: Not Disclosed
Cash Flow: $100,000
Total Debt: Not Disclosed
FF&E: $88,000
Real Estate: Not Disclosed
Year Established: 2007
Employees: 6
BBN Listing #: 993537950
Broker Reference #: O171

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Business Overview:

This business was created approximately ten years ago. The business consists of approximately 110 vendors, who rent small spaces on a month-to-month basis from within a 6,000+ Square Feet facility, in an excellent location with a high level of pedestrian traffic. The revenue model is to receive rent plus sales commissions from each vendor. A premium rent in obtained on balance by subdividing the space into very small increments and by providing staffing and a centralized cashier so the vendors do not need to be present in order to sell their merchandise. This co-retailing concept is to retail what co-working is to office environments. Artisans love the concept because this format provides them with an opportunity to sell their merchandise through a prime main street retail location, without requiring their presence, which they would never be able to afford nor commit to otherwise.

Key upside points for a new owner:

+ Chicago location
+ Self-managed vendors/tenants
+ Rare retail model with dual income streams
+ Independent business focused neighborhood
+ Historically profitable business for over a decade
+ Long history in building cooperative relationships
+ Great Reputation with unique high-quality products
+ Operational flexibility
+ Much more...

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Property Features and Assets:

Approximately 6,250 square feet. The current base rent is approximately $11,724.05 per month. The current lease expires in May of 2018 or thereabouts. The current owners are willing to participate in lease negotiations on behalf of the new owners if needed. The business is also responsible for 100% of the property taxes equaling approximately $28,500.00 per year.

Market Competition and Expansion:

This business model is not present in its exact form anywhere else in the greater metro area to the seller's knowledge. The concept has been refined in this case and is operating with predominantly absentee ownership though that is by choice and is at the current owner's discretion. Many opportunities exist to promote the location even more so than it has been in recent years, though the current promotion has been on autopilot for the most part in recent months/years.

Reason for Selling:

Profesional careers in other sectors.

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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