Sewing, Fabric & Related Accessories - Fun Biz

Not Disclosed, FL
Pasco County

Asking Price: Annual Revenue:
$306,300 $420,000

Retail: Non-classifiable

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RE: Sewing, Fabric & Related Accessories - Fun Biz Broker: Charlie Meeks
Owner Financing is Available!
$260,355 down/$45,945 over 60 months @ 6%

Quick Facts

Asking Price: $306,300
Annual Revenue: $420,000
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $669
Real Estate: Not Disclosed
Year Established: 2016
Employees: 4
BBN Listing #: 26844955
Broker Reference #: 1001-15867

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Business Overview:

Exciting and fun opportunity to own a business that feels more like a hobby! The ideal buyer would be a couple or friends that love fabric, sewing, and quilting machines.

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Property Features and Assets:

This amazing company is located in a strip center within a vibrant and upscale community in Pasco County. The store consists of 1740 square feet of fully decorated and furnished retail space. Marketing is key in a small retail space, and the owners have done this very successfully. The main product is the ultimate in technology - Baby Lock sewing and embroidery machines which are located at the center of the store. The store has a modern and updated look and feel and is equipped with all the necessary products that the trade demands. Assets= $374,376

Market Competition and Expansion:

Operators in the industry experience competition with other industry players (internal competition) and operators from other industries (external competition). The level of competition in this industry is currently Medium and Steady. Internal The Fabric, Craft and Sewing Supplies Stores industry exhibits a medium to a high level of competition, as the three largest operators, which collectively account for 60.0% of industry revenue, serve and compete for the same market. Industry operators primarily differentiate themselves based on price, product offering, and customer service. Operators in this industry also compete on the product range. To gain exposure to most of the consumer market, operators must stock a comprehensive list of products used for craft and sewing activities. This effectively reduces the need for consumers to visit multiple stores, enabling operators to gain a competitive edge against other players. Customer service is also an important basis for competition, particularly when serving customers interested in DIY crafting projects, as industry products often require specific skills. As a result, consumers are more likely to shop at stores where they are confident in receiving informative advice from knowledgeable employees. Over the five years to 2020, operators have increased their focus on adequately training employees to address various customer queries. In addition, retailers have introduced educational classes for industry activities in order to cater to new beginners and maintain customer loyalty. External Fabric, craft, and sewing supplies stores have experienced an increasing level of external competition from discount retailers and e-commerce websites over the five years to 2020. These alternative retailers offer a wide variety of industry products at comparable or lower prices. As a result, external operators have slowly expanded their share of the industry's market. However, it is important to note that these operators do not place a major focus on customer service, resulting in a high refund and exchange rate for products purchased online. Furthermore, low prices and added convenience do not necessarily make up for excellent in-store customer experience. This makes Walmart an external competitor. With both in-store and e-commerce market,s Walmart is a big threat to the industry operators. As a result, most fabric sold by industry operators has generally been used for hobby activities such as sewing and quilting. However, a trend toward do-it-yourself fashion has emerged during the period due to increasing domestic demand for customized and unique items. As covered by several media sources, including CBS Evening News and the Wall Street Journal, a growing number of consumers are creating their own clothes and accessories, boosting demand for industry products. Furthermore, demand from baby boomers, who account for nearly one-fifth of industry sales, has increased over the five years to 2020. Many people in this age group participate in sewing and crafting activities for leisure, often creating gifts or home decorations. Therefore, relatively consistent, strong demand from this demographic has kept some industry operators afloat. With the spread of COVID-19, schools and offices have shut down. This has led to a decrease in demand for stores as people are going into self-quarantine. Many small stores have suspended their operations temporarily as they are not able to sustain the loss from the spread of the virus. This has led to an increase in e-commerce sales as people are afraid to go out.

Reason for Selling:

The owners are contemplating their next business.

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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