Specialty Retail Food & Gift

Not Disclosed, WA
Island County

Asking Price: Annual Revenue:
$289,000 $480,000

Retail: General Merchandise - Retail

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RE: Specialty Retail Food & Gift Broker: Claudia Smith

Quick Facts

Asking Price: $289,000
Annual Revenue: $480,000
Net Profit: Not Disclosed
Cash Flow: $146,449
Total Debt: Not Disclosed
FF&E: $25,000
Real Estate: Not Disclosed
Year Established: 1996
Employees: 4
BBN Listing #: 50704955
Broker Reference #: 8002-16409

Email or Print Listing

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Business Overview:

This is a great opportunity to own a lifestyle business in a quaint historic tourist town in one of Washington's picturesque communities. It is a popular tourist attraction for Canadians, Seattleites and even tourists nationwide seek out this beautiful town on the water. The town sponsors large annual events/festivals on the main street right in front of the store throughout the year. Customers are people who want out of the ordinary shopping experience. They have been in business for visitors from everywhere and residents of the Northwest for over 20 years. Customers enjoy a generous selection of distinctive specialty foods, goods and drinks making this a one of a kind business.

The current owners have developed the website and online store so that there is a steady income of mail order business.

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Property Features and Assets:

The business is located in a freestanding building with 821 square feet and a monthly rent of $1,000.00. The lease expires June 2, 2026. Assets = $93,000.

Market Competition and Expansion:

According to IBISWorld reports, the Retail Gift & Card Shops category is an $18billion a year industry in the United States. Retailing a range of gifts, souvenirs, greeting cards and other similar items, the Gift Shops and Card Stores industry has displayed signs of contraction as heightened external competition has caused the number of operators to fall over the five years to 2021. Steady growth of per capita disposable income during the period enabled consumers to make more discretionary purchases, including domestic trips and gift shop items. Overall, IBISWorld forecasts that industry revenue will increase at an annualized rate of 2.0% to $19.9 billion over the five years to 2026, including a 9.7% increase in 2021. The business has smartly anticipated the downward trend and took action which has resulted in steadily increasing revenues outperforming the industry’s shrinking numbers with steady growth. After a short closure, the shop remained opened during COVID as an essential business and staple of the community due to the food and drinks available for purchase. The unique quality of this business and its customer base keeps it flourishing even in the time of COVID. The business has been growing steadily since 2016 and the addition of the online store/ordering capability has contributed to the consistent growth.

Reason for Selling:

Owners are moving overseas to be with family.

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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