Price: $399,000
Location: Union, New Jersey
Industry: Retail
Listing ID: retl483
Owner retiring for this long-established retail trophy company with a previous gross income of $827,940 and a net yearly income of $184,000 based on an onsite owner operator. The company has relationships with sports clubs, schools, retail, and non-retail companies. They offer plaques, trophies, medals, ribbons, acrylic awards, clocks, pens, name plates, banners, t-shirts, bowling balls, etc. A substantial amount of their business income represents resale orders to long-standing customers with continued relationships. The company also has an online Trophy & Awards menu available to its customers. Their locally owned business has provided their services to thousands of customers across the New Jersey metropolitan area. Their awards, gifts, and promotional items are all made from high-quality materials, and customized in house with engraving and sublimation capabilities. To meet the diverse needs of coaches, high schools, youth organizations, sports teams, academic leagues, tournaments, marathons, nonprofit organizations, and businesses, they maintain and have access to a huge inventory of awards and promotional products (both foreign and USA made). This is a dependable safe business opportunity. The yearly 2023 gross income represented by the seller owner is $827,940, and the business has a yearly net income of approximately $184,000 based on an onsite owner operator and prior to any debt service. The 2024 gross income is projected to be equal to previous year, and formal due diligence is recommended by the purchaser. For Qualifications purposes, this business opportunity industry does not require government licensing approval to purchase or operate, other than the standard required municipal licenses.
Listing Details
Form of Ownership:
LLC
Operation
Year Established: 1986
Year of Last Acquisition: 1985
Days & Hours of Operation: This successful business operation is active 6 days per week, with hours from 9:00 am to 6:00 pm Monday-Friday, 9am-3pm on Saturdays.
Owner Hours Per Week: Full Time
Employees: This business consists of one full-time employee and six part-time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $9,900.
Managers: Yes
Location
Security on Lease: Two Months
Lease Option: Yes Available
Monthly Rent: 2,000
Type of Location: Commercial
Square Footage: 1900
Relocatable?: Yes
Facilities Information:
This successful retail facility, which consists of approximately 1,900 square feet, has a casual professional appearance. The business is on an active commercial avenue with various other successful businesses. This opportunity is in Northern New Jersey, Essex County, which consists of various highly populated communities with continued demand for this industry.
Summary
Owner Qualifications:
For Qualifications purposes, this business opportunity industry does not require government licensing approval to purchase or operate, other than the standard required 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:
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.
Financing/Terms:
Also, SBA and seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral, and credit rating.
