Retail Business For Sale in Raleigh Durham North_carolina

Party/wedding Retail Product Store

Advert Id: 40486, Sellers Ref: (PARTY1)
  • Location:Raleigh Durham, North Carolina
  • Category:Retail
  • Asking Price:$249,000
  • 369000
  • Sales revenue :$580,000
  • Net profit :$78,098
  • Furniture/Fixtures value :$92,500
  • Inventory/Stock value : $100,000

Business description

Retail store that has been a locally owned family business for over 20 years, with current owner taking ownership in 1998. They offer custom wedding invitations, banners and bows, as well as a large selection of bakery, catering, party and wedding supplies of all kinds.

Business moved to its current location in 1995 and evolved into more of a retail business with a greater variety of products. Major product categories are bakery, catering, party supplies and wedding invitations/supplies. Current local market position is estimated to be 20% of potential sales.

The new owner should be able to function in a retail environment dealing daily with the general public.

Facilities: The store is located in a strip mall with 2 other tenants. The facilty is 8,000 sqft with ample parking available. The majority of product for sale resides on the store shelves. Some storage is available. There are no CAM charges, tenant pays rent only and lease is assignable.
Competition: Walmart, Dollar Stores, Party City, Sams Club and Costco are seen as the competition in this space. They have some purchasing power advantage and cater more towards kids party supplies. They are also restricted on items they can carry because of thier ownership structure. This business has no restrictions on product lines and is a member of a purchasing cooperative making prices much more competitive. Buying group membership is transferable to new owners.
Growth/Expansion: The company currently does not sell over the internet. Internet traffic and sales over the internet have skyrocketed over the last decade. Bakery supply business is expanding and could provide a nice growth opportunity. Catering supply business currently has limited items and could be expanded to meet market demand. The company is currently closed on Sundays. Weekend traffic is traditionally heavy on weekends for businesses of this type. The new owner should consider changes to the current hours of operation. Inventory is not included in the asking price.
  • Selling Assets: Yes
  • Is Business Relocatable?: No
  • Is Business Home Based?: No
  • Franchise: Not a franchise
  • Years Established: 1982
  • Employees: 9
  • Support Training: Owner will assist new buyer as needed for 30 days after closing.
  • Reason For Selling: Owner has worked in the operation for the last 15 years and is ready for retirement
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