Optical Boutique - 20 Yrs. - Profitable!

Frederick, MD
Frederick County

Heart of Historic Downtown


Asking Price: Annual Revenue:
$250,000 Not Disclosed

Services: Non-classifiable


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RE: Optical Boutique - 20 Yrs. - Profitable! Broker: Meline Baron

Quick Facts

Asking Price: $250,000
Annual Revenue: Not Disclosed
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 1999
Employees: Not Disclosed
BBN Listing #: 64958379
Broker Reference #: Not Disclosed

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Business Overview:

Our beautiful optical boutique is for sale only because it's time for us to retire.

It is has been a destination for 20 years for new and repeat customers, both local and out-of-town, in large part because of its location in the heart of vibrant historic downtown Frederick, Maryland, within blocks of covered parking, restaurants, shopping, and theater venues. Frederick, the second largest city in Maryland, is conveniently located close to the VA, PA, and WV borders at the intersection of I-70, I-270, I-15 (and Route 340.) and forms a triangle with Baltimore, MD and Washington, DC, about 50 min. from each.

Because it caters to independent product lines (vs. "big box/generics") there is no substantive competition within 30 miles (or more).

As is, it is a perfect turn-key opportunity for an optician. And altho' it does not currently have an examination "lane", there is room to install one, making it an excellent opportunity for an existing optometric practice, either as a stand-alone office or an additional location, or for a new optometrist. An approx. 500+ frame inventory, optical tools/supplies, furnishings, and 20 years of customer/(patient) records will convey. A currently part-time highly skilled optician with knowledge of the business, inventory, customers and the workings of an optometric practice would likely be available for full-time. Additional transition assistance could be available.

Despite being a mature business, year-over-revenue has increased in all but three years. 2018 was the best year to date. There are, however, several opportunities for revenue growth, including increased hours (currently open just 32 hrs/wk); active social media campaigns (currently none); and for an optometrist, accepting vision insurance and/or offering additional services (exams, etc.).

Space (approx. 750-800 sq') is leased. Lease is not transferable, but landlord is aware of and amenable to a new lessee, assuming proper financials are approved.

Asking price is based on various valuation methodologies. Specific revenue information will be provided upon completion of a mutual Confidentiality/Non-Disclosure Agreement.

Preferred schedule would be an LOI/offer with earnest deposit and actual transfer to occur May 1, 2020.

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Property Features and Assets:

Our space is at street level and comprises approx. 1/3 of the whole building area. We have a separate entrance (ADA compliant). Adjacent to us on one side is a driveway (not part of the property). The space is approx. 10' wide. There is no basement or upper level. The prime location, large display windows and interior decor are an active draw for customers. In addition, a recently announced major project (a boutique hotel and condominium complex w/ parking) have been approved just around the corner about 2 blocks away.

Market Competition and Expansion:

This is a niche business/boutique. There is no direct competition, other than regional/national chains and small optometric practices that offer routine product.

Reason for Selling:

Retire

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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