BEAUFORT, South Carolina
| Asking Price |
$370,000 |
Year Established |
|
|
| Annual Revenue |
$915,375 |
Reason for Selling |
Retirement |
|
| Annual P/L |
|
Attention |
Michael Kabiri |
|
| Annual Cash Flow |
$181,247 |
Listing Number |
557506 |
|
| # of Employees |
8 |
Business Category |
Retail: Consignment, Pawn Shop, Thrift Stores |
|
Business Overview:
In the current age of resale, this offering sets a high standard for service in Beaufort County. The 4000 sq. ft. shop displays ladies’ apparel and accessories, furnishings for every room, as well as décor, rugs, and lighting. Inventory turnover is very rapid giving shoppers a reason to return often. The Beaufort County area presents a unique opportunity to consign high-quality items due to the region’s strong demographics. Contracted workers for this service are longstanding and reliable.
The business has been in operation at the same location for 16 years. Purchased in Dec 2010 by current husband and wife team, the sales growth before Covid (i.e. 2011 as base through 2019) has averaged 17% per year. Forced to close for one month in 2020 and suffering significant declines in sales both the month before closure and the month after re-opening the actual level of activity for 2020 compared to 2019 was only down 6%, with a full recovery in monthly sales levels occurring in August and the remainder of months in 2020 exceeding their 2019 counterpart by 15.5%, Further sales for 2021 are on a path to achieve another record year given the sales numbers for the 1st qtr. Numbers of active consignors is now over 1,500 with that number steadily increasing. An active consignor is someone who has consigned with the store within the last 12 months.
Initially radio and print advertisement were implemented to grow the market and consignment base. Local TV talk show appearances, and women’s clubs came next and created a more personal relationship with both consignor and shopper. Close connections with real estate agents, and property managers meet their needs and provide a steady stream of consignment referral. Well established relationships with retail furniture store sales persons further broaden that base. For clients who may be moving, household reviews are provided by owner giving market values of furnishings in a spreadsheet format. These reviews have become tools that homeowner, real estate agents, and the shop have found very beneficial.
Sales are encouraged by word of mouth and the involvement of the owners in various community funds and events.
Property Features and Assets:
Market Competition and Expansion:
Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity