Profitable Upper West Side Optical Store

Not Disclosed, NY
New York County


Asking Price: Annual Revenue:
$499,000 $1,164,392

Retail: Non-classifiable


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RE: Profitable Upper West Side Optical Store Broker: Bob Dunphy
Owner Financing is Available!
$124,750.00

Quick Facts

Asking Price: $499,000
Annual Revenue: $1,164,392
Net Profit: Not Disclosed
Cash Flow: $168,350
Total Debt: Not Disclosed
FF&E: $25,000
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: 9
BBN Listing #: 706835879
Broker Reference #: 6842-523452

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Business Overview:

This Upper West Side optical store opened more than more than 40 years ago and has been caring for the eyes of neighborhood families for generations. Customers who change neighborhoods typically keep coming back. It operates in a 1,000 square foot, ground floor retail space with a full, useable basement and loft eye laboratory in one of the best retail locations in the neighborhood. The current rent is $11,880/month, runs through October 2022 and has a 39-month option. The landlord should be open to a new lease.

The staff has been in place a long time and is knowledgeable, caring and loyal with long term customer relationships. Services and products include Eyewear (70% of sales), Contact Lenses (20%) and Eye Exams (10%). The biggest opportunity for growth is for an optometrist or ophthalmologist to acquire and work in the store. However, a non-practitioner also could see serious growth by expanding optometry hours, increasing appointments and adding third party programs. This is a family owned and operated store targeting an upscale clientele.

The eyewear market continues to grow due to an upsurge in the number of visual deficiencies and increasing awareness regarding eye examinations. Furthermore, the growing dependence of the younger generation on electronic devices such as computers, televisions, and mobile phones has led to prolonged exposure to radiation, causing strain on the eyes, which is resulting in the purchase of more eyewear products.

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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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