Business For Sale

Retail: Florists, Gifts, Cards, Books


Profitable, High Volume Gift Store

Los Angeles, CA

Asking Price: Annual Revenue:
$695,000 $2,215,985

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RE: Profitable, High Volume Gift Store Broker: Julian Solomons Solomons Strategic Advisors
Owner Financing is Available!
Subject to buyer's credit.

Quick Facts

Asking Price: $695,000
Annual Revenue: $2,215,985
Net Profit: $250,871
Cash Flow: $250,871
Total Debt: Not Disclosed
FF&E: $75,000
Real Estate: Not Disclosed
Year Established: 1994
Employees: 5
Listing Number: 590331351

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Business Overview:

If you are looking for a business that you will be proud to own, have fun running, enjoy the clientele, and make money at the same time, look no further.

This beautiful store was established in 1994 (23 years ago) in one of the most prestigious centers in the Los Angeles area.

The location is in the center one of the highest demographics in the nation, and the interactive social life of the city and surrounding area creates a constant demand for unusual gifts of a quality nature.

The business has served this loyal clientele with an eclectic mix of tasteful goods from a wide variety of vendors, such as Bucellati, Yves DeLormes, Baccarat, Lalique, Jay Strongwater, and Sferra Linens, to name just a few. Categories include photograph frames, fine jewelry, scented candles in fine glass and crystal containers, fine linens, unusual coffee table books, crystal, and home décor. Merchandising, displays and fixturing are along the lines you see in a fine department store, not the run-of-the-mill gift store.

Normal operating inventory is approximately $300K, but the store has an advantageous relationship with several vendors – primarily fine jewelry and linens – that have consigned just over $800K at cost of inventory, on a sale or return basis. This consigned inventory is not paid for until actually sold in the store, which has a very positive impact on the working capital requirement.

The owner is absentee from daily store operations, delegating this to a full time manager, who is planning on retiring once the new owner has found their feet. The owner does involve himself with inventory management, accounting and seasonal displays, all of which can be assumed by a full time owner/manager.

Gross Sales over the past few years have been in the range of $2mm to $2.2mm, with net cash flowing to a full time owner/operator in the range of $250K per annum. 2017 was impacted by road closures in the area from March thru May, with additional partial closures in June and July. Everything is now back to normal, and going forward, margins and sales for the fourth quarter are expected to be as good as, if not better than 2016.

This business will not suit everyone. The ideal buyer will have the combination of a head for business, a fine eye, good taste and the ability to create “theatre” in their store. Just such an owner with fresh blood and energy, should be able to take the business to the next level of $2.5 mm and beyond.

The owner is seeking offers in excess of $695K for all the assets of the business, which includes $300K of estimated inventory.
A fully detailed “book” and video tour of the location and business are available to suitable applicants via download.

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:

The store occupies just under 2,000 square feet in a prestigious mall on the west side of Los Angeles. The store is located in one of the best locations in the center and has two entrances, one of which leads in from a large parking lot. The total occupancy cost (Rent plus C.A.M.) is currently $29,456 per month with C.P.I. increases on January 1 of each year with a minimum of 2%. The lease expires in July of 2015.

Market Competition and Expansion:

See details in available "book".

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.

Resources:

Relevant Links:

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