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Custom Tailoring Retail Store
Location: United States -> New Jersey -> Morris County
Industry: Retail > Wedding / Formal Rental




Business Summary

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. For Qualifications purposes, this business opportunity and industry does not require government licensing approval to purchase or operate other than the standard municipal licenses. Regarding employees and payroll, 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.

This business opportunity is located on a commercial avenue, on an active county road, consists of approximately 1,100 square feet and has an estimated capacity for ten customers. The companies fixed assets has an estimated value of approximately $45,000 which is specifically based on equipment and licensing replacement cost. This transaction consists of a fully equipped commercial retail store, which includes, required licenses, no web site, social media venues, displays, shelving, no POS system, tables, computers, software including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate municipal parking near to the business. This successful clothier & tailor business operation is active six days per week, with hours from 9:30 am to 7:00 pm. The sale includes all required documentation.


Financials

Asking Price Range:  < $250K
Gross Revenues:   $350,000
Cash Flow:   $88,000
Cash Flow Type:  EBITDA
Inventory:  $45,000
Seller Financing:  Yes

About The Business

Year Established:  1960
Number of Employees:  1 - 3
Relocatable:  No
Franchise:  No
Current Real Estate:  Leased
Property:  Property For Lease

About The Sale

Management Training and 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.
Reason For Selling:  The owner is retiring after many successful years.

Photos

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Custom Tailoring Retail Store Photo 1




Print Listing Id: 700317329




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Related Searches: Catalog and Mail Order Retail  >  Clothing and Footwear Retail  >  Computers and Electronic Equipment Retail  >  Convenience Stores Retail  >  Florist Retail  >  Health and Beauty Supplies Retail  >  Home and Garden Retail  >  Movie Rental  >  Wedding and Formal Rental  >  Other Retail  > 

Also See: Franchise Opportunities > Franchise Resales > New Jersey Businesses For Sale > New Jersey Franchises For Sale > New Jersey Business Brokers



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