Retail - Apparel & Accessory Stores

Asking Price	$750,000	Inventory	$236,000*
Gross Income	$743,947	Real Estate	$200,000*
Cash Flow	$195,000	Year Established	1918
FF&E	$300,000*	Employees	4

* included in the asking price

** not included in the asking price

This furrier has been in existence since 1918. The current owner bought the business 15 years ago. They moved to the existing location in July of 2004. The lease is good thru 11-30-2012. The rent is $5,300.00/m. including CAM. They have a five year option at $5,170.00/m + CAM. Hours of operation are Monday thru Saturday 10:00 AM to 6:00 PM. Closed on Sunday. They have 1 full time employee and 3 part time employees. There is one key individual that does alterations as well as sales. His salary is $50,000.00 per year. They have the capability to do repairs and alterations on all of the furs and accessories. They also have the equipment to do the cleaning and the have a very large storage facility. The storage facility was built in the year 2000 and is included in the sale of this business. The real estate taxes are $1,472.26 per half year. It is approximately 2,100 sq. ft. and they can store 4,500 coats. Their fee for storing a coat is $35.00 per calendar year and the fee for cleaning a coat is $50.00. Since the building is in a condominium setting there is a monthly maintenance fee of $103.00 The business has a fiscal year April 30th thru May 1st.. Gross sales consist of approximately 50% service which includes the storage, repairs, alterations and cleaning and 50% retail sales. The selling price for this business is $750,000.00. This includes Inventory at Cost of $236,000.00, A truck as well a a personal vehicle, the storage property in North Ridgeville, Ohio as well as the Name and goodwill that includes a client list with 5,500 names, this list is updated twice a year.

Support/Training: The seller will stay for a transitional period and be available as a consultant as required.

Reason Selling: Starting a new career.