Retail shoe store

Roseville, MN (Ramsey County)

Retail shoe store

Asking Price:$125,000

Cash Flow:$70,000

Gross Revenue:$425,000

EBITDA:$70,000

FF&E:$35,000

Inventory:$75,000*

Rate/Sq. Ft.:N/A

Established:1980

*not included in asking price.

Retail shoe store

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Business Description

Established for over 36 years-"legacy" brand known to consumers for generations for quality shoes.

Store located in a Major Twin Cities mall-recently renovated. Leases about 1000 square feet. Basically a new store with a great location near a major "anchor" tenant, and near the main entrance to the mall from a newly constructed indoor parking facility.

Sales consistently in the range of $425-$450,000; absentee owner normally takes about 10%. The manager makes about $45,000 per year

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building Sq. Ft.:
1,000
Lease Expiration:
11/25/2020
Employees:
6-7
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
1000 square feet in a brand new location within a major Twin Cities mall. Moved to accommodate a major mall "facelift: and new construction. New location near a major "anchor" tenant, and near the entrance from a newly constructed indoor parking facility. The move is complete and the mall assists in directing traffic to the new location with signage, posters etc. for the upcoming fall and Christmas season. Rent is about $5700 per month including CAM.
Competition:
Other retail shoe stores. This brand however is known and has been for generations. This store does very little marketing etc.; there are no discounts or "sales" to attract customers. (There will be a licensing agreement as part of this transaction with a new owner)
Growth & Expansion:
There is no sales promotion or marketing with this store, and no webs site etc. These kinds of things can be added to the equation as well as increasing the modest ad budget.
Financing:
N/A
Support & Training:
Experienced manager runs the day-to-day operation; owner/seller is and has been absentee. Training provided.
Reason for Selling:
Retirement

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Bob Griesgraber

Business Listed By:
Bob Griesgraber

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Thomas Green

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