Price: $129,900
Location: Morris County, New Jersey
Industry: Retail
Listing ID: RETL458
Solid business opportunity to own this long-standing successful retail clothier company that supplied highest quality custom men’s, clothes, and accessories. The owner is now retiring after many years in the industry and will train and finance the sale to a qualified buyer. This is a dependable safe business opportunity which offers owner financing and training.
The yearly gross income represented by the seller/owner is $224,647 Plus undisclosed income the business has a yearly net income of approximately $85,000 based on an onsite owner operator and prior to any debt service. The 2023 income has further increased from the previous year. Also, due to a percentage of seller discretionary income, formal due diligence is required by the purchaser.
Listing Details
Revenue: $224,500
Cash Flow: $85,000
FFE: $45,000 (Included in Price)
Inventory: $100,000
Reason For Sale:
The purpose of this business transaction is due to the owner retirement after many successful years in this industry.
Training & Support:
The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.
Operation
Days & Hours of Operation: This successful clothier & tailor business operation is active six days per week, with hours from 9:30 am to 7:00 pm.
Owner Hours Per Week: Full Time
Employees: one
Location
Security on Lease: Two Months
Lease Option: Yes additional options.
Monthly Rent: 3,150
Type of Location: Commercial Avenue
Square Footage: 1,100
Relocatable?: Yes
Facilities Information:
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.
Summary
Owner Qualifications:
For Qualifications purposes, this business opportunity and industry does not require government licensing approval to purchase or operate other than the standard municipal licenses.
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:
Owner financing is available to qualified buyer.