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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Custom Clothing Tailoring
(Retail )
Morris County , NJ
Listed Price: $ 195,000
Listing ID: RETL349

Listing DetailsGross Revenue: $ 350,000
Cash Flow: $ 88,000
FFE: $ 45,000 (Included in Price)
Inventory: $ 150,000
Reason for Sale:

Owner is retiring after many successful years.


Training & Support:

The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, if required the seller may be available to supply additional training, at a fair cost to the purchaser.


OperationsYear Established: 1960
Days & Hours of Operation: Mon.-Sat. 9:30am-7pm
Non-owner Payroll: $ 800
Employees: 1
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 5000
Monthly Rent: $ 3,028
Square Footage: 1100
Facilities:

The business retail facility which consist of approximately 1,100 square feet has an attractive professional appearance to the customers it serves. The business is on an active commercial avenue with various other successful businesses. This opportunity is in Northern New Jersey, Morris County, and the general area consists of various private companies and numerous workers & shoppers. The general area is made up of various affluent and highly populated communities with continued demand for this industry.


SummaryBusiness Description:

Solid business opportunity to own this long-standing successful retail clothing tailoring company that supplies numerous services including, customizing men’s, women’s and children’s clothing. The owner is now retiring after many years in the industry and will finance the sale to a qualified buyer. This retail company routinely has one-part time employees who is unaware of the pending sale. The payroll which is for the tailor is routinely based on piece work, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $800. The business transaction has an assignable commercial lease which expires 2021-01-01, plus additional options available, with a monthly rent of $3,028, cost per square foot is estimated at $31.59, and rent security of approximately $5,000. The companies fixed assets has an estimated value of approximately $45,000 which is specifically based on equipment and licensing replacement cost. This successful clothier & tailor business operation is active six days per week, with hours from 9:30 am to 7:00 pm. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.


Competition:

Regarding competition, to the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

The business can be further expanded by the new operator. The company presently has a limited marketing plan, no local advertising or web site and if improved can further develop the business yearly gross sales.


Financing/Terms:

Available to a qualified buyer with an appropriate down payment.