Growing Multiple Dealer Retail Cooperative

Not Disclosed, OH
Lake County


Asking Price: Annual Revenue:
$200,000 $302,824

Retail: Consignment, Pawn Shop, Thrift Stores


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RE: Growing Multiple Dealer Retail Cooperative Broker: Jack DiMatteo

Quick Facts

Asking Price: $200,000
Annual Revenue: $302,824
Net Profit: Not Disclosed
Cash Flow: $80,052
Total Debt: Not Disclosed
FF&E: $13,602
Real Estate: Not Disclosed
Year Established: 2015
Employees: Not Disclosed
BBN Listing #: 425158597
Broker Reference #: 67201-319085

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Business Overview:

Multiple dealer retail cooperative features over 90 booths, a large furniture gallery and snack bar. Customers enjoy booth after booth of different, unique and eclectic merchandise. Dealers provide top notch, knowledgeable customer service. Cashiers accept cash, Visa, MasterCard, and Discover. Wrappers ensure purchases are safe for travel. Improvements to the facility are designed to give shoppers an enjoyable experience sifting through the many treasures offered under one roof. Extremely popular with dealers as there is a long waiting list for space creating potential for expansion.

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Property Features and Assets:

The store is modeled after the original concept of Homer Marple, developed in Hilton, New York. in the 1980’s. The current owners brought this concept to Ohio in 2003 when they opened a store in Painesville with other business partners. That business grew and thrived over the 11 years they were there, drawing customers from several states and Canada. The current owners were responsible for at least 80% of the management at that location until they left the business in March of 2014. At that time it was fully rented with a waiting list of over 100 potential vendors. Sales increased each year and business was thriving as people shopped for good quality, previously owned items. They brought this antique mall concept to their current location and after extensive renovations to the space, opened for business in April 2015. The last empty booth was rented on opening day and a waiting list was started. The mall has been fully rented ever since and the waiting list has grown to over 250 names, with new people being added to the list every week. Forty of the original dealers are still active at A&U. Many have expanded into more or larger spaces over time. The store/mall is over 24,000 square feet. There are over 100 dealer booths plus a large Furniture Gallery. There is a Café area to take a break and get a snack and/or a beverage while shopping. Customers walk through the booths in the store, selecting items to buy as they go. Our staff of dealers is there to provide customer assistance everywhere in the store, answering questions, making suggestions, moving and loading purchases. At the central checkout area, cashiers and wrappers will complete purchases. Customers pay with cash, American Express, Visa, MasterCard, and Discover. Our family of dealers range from professionals who make their living selling items, to those who resell as a hobby, to serious craftsmen who create works of art, to people cleaning out as they downsize their living space, to those responsible for liquidating an estate, etc. Some of them rent space for the long-term, some rent for a few years, and some rent for a few months. They sell antiques, vintage, used, and new items, and collectibles. They refurbish, restore, clean, paint, repurpose, and recycle items from many eras. They create new craft items. Some buy new merchandise to resell. It is a truly eclectic mix of inventory. Sales have grown over the years and the customer base has increased. Each week approximately 75% are return customers and 25% are new. Sales have grown, with a large, sustained increase noted in 2020 and 2021. The same rent amount was charged to dealers for the first six years. In May of 2021, the first rent increase was instituted with 100% dealer retention.

Market Competition and Expansion:

All 100 dealer slots currently filled with a waiting list of 250 creating a strong rental environment and opportunities to expand the current location and/or open additional locations. Retail establishments and flea markets- but few offer the same unique concept that draws customers from neighboring states and Canada. Coops of this kind are not easy to set up creating a natural barrier to entry. Most flea markets operate outdoors. This indoor concept operates the entire year including the all important holiday season.

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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