Niche Retail/Service Business
Business Description
Established Retail and Service Business that has been successfully operating in Halifax for 19 years is ready to pass along a solid foundation to someone who with an interest in providing creative design and service excellence to a long list of repeat customers in the event/party industry. This Retail outlet services and sells product targeted to Weddings, Birthdays, Retirements, Baby & Wedding showers, and seasonal holidays like Christmas, New Years, Valentines, St.Patrick's Day, Easter, Canada Day, etc., and is also a small provider of certain other specialty supplies.
Operating from a 1300 square foot premise in a high traffic area, there are numerous market opportunities for a new owner to grow this business. Next to no advertising is currently done, no networking associations or strategic partnerships exist (professional decorators, event planners, etc.), limited relationships or initiatives have been developed in the wedding industry or with corporations. Opportunity knocks!
Current owner operates the business with the support of 2 established and reliable Full Time employees. It is belived a new owner could reduce the overall employee costs by up to 30%, if they were active owner/operators. A further opporuntiy to reduce overhead costs exists, with the current lease set to expire in 12 months time. Although it can easily be renewed, many would agree, a new location at a reduced rent would not impair sales, but would greatly assist in the overall profitability. Immediate upside profit opportunity.
I Am Interested
Pictures
No pictures currently available.General Information
Business had been built a strong reputation for personalized service, expedient delivery, and a great selection of items. Servicing all of HRM.
Approximate inventory value of $35,000.
The expected equity requirement for a successful purchaser is anticipated to be not less than $40,000.
Financial Information
3 year average sales - $330,000
3 year average SDCF - $65,000
Real Estate / Lease
1302 square feet, located in a high traffic shopping area.
$25/square foot plus CAM charges of approximately $4.25/sft
Lease expires February 28, 2011
