Menswear Retail Store

Oakland County, MI

Seller Financing Available
Menswear Retail Store

Asking Price:$90,000

Cash Flow:$22,957

Gross Revenue:$112,784

EBITDA:N/A

FF&E:N/A

Inventory:$55,000*

Lease Rate/Sq. Ft.:N/A

Established:1964

*not included in asking price.

Menswear Retail Store

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Business Description

This Oakland County business has a renowned reputation and long list of clients including multi-generational repeat customers.Offering a tremendous selection of suits, tuxes (toddler 3 thru men's 72), shirts, hats, shoes, and accessories including seasonal and sports themes in popular colors. Pricing is very competitive and often better than their competition. This is a easy turn-key operation with many profit making avenues. Note for $55,000 the buyer will receive $129,000 in salable or rental inventory. The buyer should have some retail sales experience.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
1,650
Lease Expiration:
N/A
Employees:
2 full time
Facilities:
50+ years in this thriving downtown location. Close to schools, various types of housing, popular restaurants and non-competing stores with lots of foot traffic. Free and metered public parking readily available. Very visible store front. Lease terms and options are negotiable. However, renter will be responsible for all repairs with the exception of furnace and air conditioner.
Competition:
The closest competitor is 8 miles away. There are a few mall men's stores that also rent tuxedos in the area. This shop stands out because of their extensive inventory, selections, pricing and service.
Growth & Expansion:
The shop does minimal local marketing. It has a good web site but no web sales. Buyer should in consider doing more bridal shows, local mailers, timed solicitation in local schools and advertising on wedding web sites such as: The Knot. Sales are highest in these months: January (Auto Show premier), May (prom/graduation), Summer-Fall (weddings).
Financing:
20%
Support & Training:
The is committed to helping the buyer be successful. They will stay for a negotiated time period.
Reason for Selling:
Retirement

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Tanya Popov

Business Listed By:
Tanya Popov

Inix Consulting and Brokerage

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