Long Est. Formal Wear Tuxedo Rentals with Two Loca

Not Disclosed, NY
Orange County


Asking Price: Annual Revenue:
$395,000 $544,790

Services: Rentals - Party, Equipment


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RE: Long Est. Formal Wear Tuxedo Rentals with Two Loca Broker: Erin Crawford
Owner Financing is Available!
Owner Financing Terms $245,000.00 Owner Financing Interest 6% Owner Financing Terms Months 60 Owner Financing Monthly Payment $4,736.54

Quick Facts

Asking Price: $395,000
Annual Revenue: $544,790
Net Profit: Not Disclosed
Cash Flow: $204,005
Total Debt: Not Disclosed
FF&E: $10,000
Real Estate: Not Disclosed
Year Established: 1985
Employees: 15
BBN Listing #: 3873630
Broker Reference #: 6401161821

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Business Overview:

Well established with strong brand recognition as the go-to for formal wear rentals of tuxedos, suits, shoes, and accessories. This business caters to the needs of any formal occasion including proms, weddings, black tie events, and galas. The family unexpectedly inherited this business and needs to sell. Each location has management and staff in place and they have negotiated favorable terms with their landlords to carry the business through the shutdown situation. Over $450,000 of inventory, most purchased within the last year, is included in the sale. Step into this fantastic business that will be booming as the event season comes back. Sellers are willing to offer favorable financing terms. Please re fer o listing 6401161821, business broker Erin Crawford when you inquire about this listing.

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Property Features and Assets:

Type of Location Mall Center Facilities 2 locations Monthly Rent $4,367.00 Square Units (Foot, Meter) 5,825 Lease Expiration Date June 30, 2020, 3:00:00 AM Terms Options MTM.

Market Competition and Expansion:

Miles Seller Not to Compete Within 50 Number of Years Seller Not to Compete For 5.

Reason for Selling:

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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