Dreaming of owning a business on the NC Outer Bank

Not Disclosed, NC


Asking Price: Annual Revenue:
$293,000 $250,382

Retail: Non-classifiable


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RE: Dreaming of owning a business on the NC Outer Bank Broker: John Chaffee
Owner Financing is Available!
29300.00

Quick Facts

Asking Price: $293,000
Annual Revenue: $250,382
Net Profit: Not Disclosed
Cash Flow: $103,642
Total Debt: Not Disclosed
FF&E: $48,542
Real Estate: Not Disclosed
Year Established: 1987
Employees: 2
BBN Listing #: 456758201
Broker Reference #: 13485-887125

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Business Overview:

Attractive Flag & Coastal Gift Shop in Desirable NC OBX Location

This 30+ year business engaged in retail and online sales of various flags and accessories for individuals and corporate clients. Shop is profitable with increased sales in 2020 over 2019 and monthly sales in first half of 2021 are up from 2020. Plenty of opportunity to grow both in-store and online sales for the right person/couple that desires to live on or near the beach in North Carolina close to Virginia Beach. Owner has been selling custom-designed as well as standard flags - patriotic, military, nautical, garden, state and even foreign flags, as well as commercial & residential banners. Specialty gift sales have been increasing every year since at least 2016. Owner will train new owner(s) for 2 weeks at no cost and continue to work under contract as a designer of new flags for sale until new owner masters the computer design programs. This business offers an excellent opportunity for franchising. Attractive SBA financing ends in September 2021, so let's get going.

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Property Features and Assets:

Company started in coastal NC as a flag and banner store and at one time had multiple locations. When one of the co-founders exited, the current owner(s) elected to retreat to a single, yet highly visible and attactive location. The current location is in a North Carolina beach community known throughout the US and around the world. While sales have declined over the last couple of years, a social media-savvy person with new ideas and energy can easily expand awareness and grow sales. Additionally, the current owner has developed (and copyrighted) custom-designed flags and is willing to continue doing this for the new owner. Additionally, the company added several gift items for sale in the shop a few years ago which have continuted to experience increased sales year over year. The company also holds a trademark on its logo.

Market Competition and Expansion:

The company does a significant portion of its sales in the store, but online sales can easily be boosted with the right marketing effort, especially with a new owner that has a good background in pushing awaremess and sales through solcial media efforts. The current owner also added gifts for sale and those have been increasing each year since at least 2016. It may also be possible to boost sales by expanding to multiple locations - the company name is well-suited to local branding in multiple beach (and other) locations - or even franchising,

Reason for Selling:

Retirement

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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