18-Year Established Business with Real Property
Gross Revenue: $368,699
Real Estate: $350,000
Seppanen & Daughters Fine Textiles in Madrid; Real Property Included.
Destination Showroom with Real Property on the Turquoise Trail
Since 1998, Seppanen & Daughters FINE TEXTILES’ showroom has been a destination for Zapotec Textiles from Oaxaca, Tibetan rugs and wall-hangings from the Himalayas, Navajo weavings from the Southwest, carpets from the semi-nomadic tribes of Morocco, and Kuba cloth and throw pillows from Western Africa. With an 18-year long dedication to these traditional textile cultures comes quality, authenticity and exclusivity. In addition to $60,000-worth of inventory valued at wholesale, new owners will inherit a quality selection of consignment stock. If not available in the showroom, a direct relationship with the Himalayan workshop allows FINE TEXTILES to customize its Tibetan pieces to suit individual taste and preferences.
Customers rely upon FINE TEXTILES to create their environments. It is a tribute to the success of this business that loyal, repeat customers represent 70% of annual sales; out-of-state customers make annual or more frequent trips to the showroom, often calling ahead to set appointments; and that its international network of suppliers often reserve their best offerings for this showroom. This brand is recognized beyond the Southwest. Fodor Travel, Lonely Planet, and Su Casa Magazine among other online and print publications have featured FINE TEXTILES in their pages. In addition to the website, FINE TEXTILES’ Instagram feed (instagram.com/finetextiles/) has developed a strong following. This is an exceptional business enhanced by real property. The 0.174-acre lot upon which the 864 SF showroom sits and the neighboring 0.198-acre parcel are included in the $725,000 price. Both lots enjoy direct, level frontage on the Turquoise Trail, the scenic byway that winds through the Ortiz Mountains to connect Albuquerque and Santa Fe. A favored route for visitors to the area, the steady flow of traffic has transformed the former mining town into a bustling, intimate alternative to the higher-priced shopping available elsewhere. Madrid offers over 40 galleries, antique stores, cafes, restaurants, a museum, spa and theater. Numerous events are hosted throughout the year. During the day, the town fills up with visitors strolling the streets. The emerging nightlife is now beginning to keep them after dark.
Inventory: Included in asking price
Real Estate: Owned
Included in asking price
Building SF: 864
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: FINE TEXTILES is located just on the outskirts of Madrid’s lively downtown. Dedicated parking is available. The showroom is fronted by a six-foot-deep porch that extends the retail space and welcomes guest to the well-lit and intimate 864 SF showroom. An additional 700 SF of storage space is available in back.
Vacant property in downtown Madrid is also at a premium. New owners will be able to decide what they want to build on the unused lot, whether it a second retail space, a B&B, personal residence or mixed use structure.
On one side of the showroom, a master woodworker is building a high end coffee shop, while on the other, a chef out of Los Angeles is overseeing the construction of a patisserie. Both promise to bring more traffic into the immediate vicinity.
Both FINE TEXTILES’ lots include membership in the local water association. Since new memberships have not been offered in some time, this is a distinct cost-savings.
Competition: FINE TEXTILES’ selection and quality put it in an elite class of textile purveyors. Only a handful of showrooms around the United States can be considered competitors and most of these are based in major metropolitan centers. FINE TEXTILES is able to pass along its comparatively low overhead to customers, providing fair price points and allowing the business to maintain its dedication to quality.
Growth & Expansion: Ways to expand the business can be shared upon receipt of a Non-Disclosure Agreement.
Support & Training: This is a unique opportunity for those with a passion for the textile arts. Training and support will be provided during the transition phase; ongoing consultation or in-store assistance can be discussed.
Reason for Selling: Seller will pursue other, non-competing interests.
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