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Merced, Merced County, California
Asking Price
$8,900,000
Revenue
Call/Email
Down
20-25%
Cash Flow
Call/Email
Name: Taj Randhawa
Phone: Show phone number
Name
Taj Randhawa
Phone
Show phone number
Posting ID:
289023
Attributes:
Real Estate Included
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This store has been arguably the most popular women's boutique business for sale on 2nd street since established in affluent Belmont Shore in 1996. It has built up a very loyal local following over the last 16 years, and also caters to tourists and visitors to the nearby Long Beach convention center. The business association in Belmont Shore is very active and conducts many special events and attractions on 2nd Street, which draw tourists from throughout Southern California. The boutique carries exclusive labels and better priced items of trendy clothing, accessories, and jewelry. Inventory turnover is very high in this busy, high-volume store. Sales of accessories and jewelry, which have higher margin, are especially brisk. The boutique's prime corner location provides excellent street visibility and tremendous foot traffic from the thousands of people strolling along the street to shop and dine at the many fine restaurants. The store operates from a gorgeous 1,450 square foot space, which features a 14 foot high ceiling, crystal chandeliers, and a spectacular 56 linear feet of window frontage. It features a fanciful, themed interior that garners constant compliments from impressed customers. The racks and fixtures are unique, antique looking--all custom built for the store. The well designed shop features 5 changing rooms, an employee break room, an office, and ample backroom storage, plenty of space for all supplies, extra fixtures, and holiday decorations. There is enough display and back stock shelving for at least 20 styles of shoes. Owner spent 200k on a floor-to-ceiling remodel. Includes 6k Sensormatic theft detection system and is prewired for security cameras. The boutique currently employs 4 superb part-time sales people and a manager who have all established relationships with loyal clientele. The manager maintains the facebook and popular fashion blog for the store. The ideal buyer for this business would take over the manager and buyer duties for maximum profit. They should be trend savvy and have a passion for fashion. The elderly owner is selling the boutique, the third one to be sold as part of his second retirement plans. Already retired as CPA, he was forced to take over the business in 2000 from his brother, who became disabled at that time. Now, he himself is downsizing his business affairs after a recent heart attack. The business has a much greater profit potential if energized by a younger, more passionate owner-operator. Customers have been requesting an Internet sales capability, which the new owner is strongly advised to set up. Perfect time to buy as the economy continues to grow post recession. Lots of upside potential. Lease expires in 2016 but can be extended to 5 years plus option. Being near the beach and several colleges, summer sales are higher than most boutiques, although highest sales are November/December. Training on operations, buying, and all vendor sources and accounts included. Orders of exclusive designer clothing have already been placed several months in advance. $58,000 + inventory, which may be purchased at cost at buyer's option.
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