Seller Financing Available
Absentee-Owned High-End Womens Shoe Store in Westchester
For several decades, this shoe retailer has been a favorite destination for women seeking the latest in high-fashion footwear. It carries the most exclusive dress and casual shoe brands, including Stuart Weitzman, Uggs, Birkenstock, Kate Spade, Sorel, Via Spiga, Cole Haan, Vince Camato, Hunter, Badgley Mischka and Michael Kors. The store enjoys a strong competitive advantage in its locality since the manufacturers of most of these brands are no longer opening retail accounts in New York State. A wide range of fashion accessories complements the footwear offerings, including scarves, jewelry, handbags and other leather goods. The store also features premium children’s footwear brands, including Stuart Weitzman, Uggs, Birkenstock, Block, Hunter, Jack Rogers, Keen, Michael Kors, Sorel and Sperry. The owner conducts email blast campaigns to inform customers about new arrivals, coupon offers and other promotions. He implemented an innovative gift-with-purchase program that has been imitated by local retailers. These marketing initiatives, coupled with a well-crafted product mix and a commitment to the highest level of customer service have been instrumental in driving strong sales growth. Because the store is currently under absentee ownership, a buyer who takes a hands-on approach could replace the full-time manager, thereby enjoying a cash flow increase of $48,000, which is the manager’s annual salary. The store occupies 1,500 sq. ft. in a prime retail location with considerable foot traffic. Rent is $3,500/month, with seven years remaining on the lease. The owner has expressed a strong interest in providing the buyer with ample support to ensure the continued favorable growth of the business over the long term.