Long Established Shoe Repair Shop at Low Price

Not Disclosed, SC
Spartanburg County


Asking Price: Annual Revenue:
$100,530 $68,150

Retail: Clothing & Accessories


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RE: Long Established Shoe Repair Shop at Low Price Broker: Eli Tatem
Owner Financing is Available!
$40,000.00

Quick Facts

Asking Price: $100,530
Annual Revenue: $68,150
Net Profit: Not Disclosed
Cash Flow: $37,198
Total Debt: Not Disclosed
FF&E: $65,000
Real Estate: Not Disclosed
Year Established: 1945
Employees: 2
BBN Listing #: 438651471
Broker Reference #: 32661-180596

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Business Overview:

This Shoe Repair Shop has been around for around 80 years, and has a fantastic reputation both in the local community and with customers who come from out of town to have the job done right! The shop is fully equipped with all the machinery, tools, and supplies necessary to do the work on day one. All fixtures, furnishings and equipment, as well as inventory of supplies is estimated at $75,000 in value. Current owner can show $38,000 in profit working short hours and limited number of days as he ages. Huge potential for growth by simply opening normal business hours and normal amount of work days, as well as expanding scope of services offered. Current owner has limited his offering of services because of age. This opportunity for the right buyer is one of a kind. The reputation is stellar, the price is low, the potential is extremely high, and the location is on a very large well traffic road in a highly populated and busy area. Building Owner is willing to lower monthly rent to $850 for new owner.
The owner's father immigrated to America in the late 1950's and continued his trade in New York. Hi son learned the trade and continued to work in New York. Eventually he moved with his family to South Carolina and bought this existing shop. The business moved to it's current location about 16 years ago and has been there ever since.
This business has been around for almost 80 years, and has been owned by the current owner since the early 1990's. It has been in the same location on a large main road for the last 16 years and has a fantastic community reputation. There are very few shops of this type in the county. This industry is needed and very unique, and will always be needed.
Currently, the Owner/Operator is turning away certain services because he is slowing down. Leather work on heavy duty items, such as Horse Saddles and Bridles, certain Zipper work, among other items. The current owner also does not advertise, and thus the opportunity for growth here is great. The business is currently only open 4 days a week, for 6 hours each of those days. There is no shortage of business coming in, but the current hours of operation limit the potential. Expanding hours and days of operation would greatly increase revenue potential.
Business owner owns the building and is currently paying himself rent of $1000/month.

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Reason for Selling:

Retiring

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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