Upscale Gentlemen's Design & Luxury Clothing Shop

New York, NY (New York County)

Seller Financing Available
Upscale Clothing Store

Asking Price:$435,000

Cash Flow:$185,061

Gross Revenue:$889,016

EBITDA:N/A

FF&E:$7,500

Inventory:$200,000*

Rate/Sq. Ft.:N/A

Established:1992

*not included in asking price.

Upscale Gentlemen's Design & Luxury Clothing Shop

Get Financing Save Print Share Valuation Report

Business Description

This is an upscale gentlemen’s designer and luxury shop located in a tony neighborhood of New York City. It has been in business for 25 years with long term satisfied consignors and customers.

Have an eye for men’s fashion? This is the men’s boutique shop for you! This business has been a well- known source for discerning buyers of new or nearly new men’s apparel for over 20 years. The shop features men’s designer clothing including suits, jackets, pants, ties, and accessories sold on consignment.

This Manhattan luxury consignment shop accepts fine quality clothing with labels from American and European designers. Men can experience one of the area’s largest collection of designer brands including labels such as Hermes, Gucci, Prada, Armani, Versace, Louis Vuitton, and countless others including fashion forward bridgewear.

‘This business is one of New York’s best kept secrets because there is no other place in the city offering men the range of designer clothing and accessories at this value. Many of Hollywood’s own, shop for themselves and outfit their films.’

This boutique’s goal is simple, “To provide fine quality, luxury clothing at an affordable price and outstanding customer service to complement it.” The beauty of this business model is it requires no cash outlay for inventory. This store typically carries over $200,000 in merchandise at no cost to the owner.

Clients bring in merchandise they wish to sell on consignment. If management decides that clothing meets quality standards, a price is set and agreed upon for a 50/50 split upon sale of the item. Merchandise is reduced 20% after 30 days, 50% after 60 days and the consignment period ends after 90 days.

The business is located in a 1,100 square foot store located on the upper east side in an ideal location with foot traffic.

Growth and Expansion
Although the business model in place is profitable, the business could be better served by a greater internet presence. With the advent of the internet, the sale of clothing has increased and more buyers are looking to buy online. Aside from walk in traffic, the owner recognizes that greater involvement via social media would generate and increase sales and profits.

What sets this business apart from others is its uniqueness and stellar reputation for fulfilling its loyalty to steady clients. A savvy buyer will be able to take advantage of this shop’s strong foundation, its marketplace niche and its outstanding reputation.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building Sq. Ft.:
1,100
Lease Expiration:
N/A
Employees:
2 FTE, 3 PTE
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
1,100 sq. ft. leased space
Financing:
Seller will consider some financing for a qualified buyer
Support & Training:
Seller will negotiate a transition period
Reason for Selling:
Retirement

Listing Statistics for Premium Members

Ad#:1319194 Report an issue with this listing

The information in this listing has been provided by the business seller or representative stated above. BizBuySell has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness.
Read BizBuySell's terms & conditions before responding to any ad.

Contact the Seller

Sign up for the BuyerNewsletter.
Learn to use your IRA/401K to buy a business: Guidant Financial (min. $50K needed in IRA/401K)
Contact Seller Loading

Jack Armstrong

Business Listed By:
Jack Armstrong

Sunbelt Business Brokers of NJ

Show Phone Number

View My Listings

Find out more...

Get more details about this business.


Similar Listings