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Antique Mall, 4 profit ctrs, 1 price, Semi absentee run, no vacancies

Cumming, GA (Forsyth County)

Seller Financing Available
Antique Mall, 4 profit ctrs, 1 price, Semi absentee run, no vacancies
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Asking Price: $129,500

Cash Flow: $101,000

Gross Revenue: $356,000

EBITDA: N/A

FF&E: $20,000

Inventory: $3,000*

Rent: $6,000 /Month

Established: 2009

*not included in asking price.

Antique Mall, 4 profit ctrs, 1 price, Semi absentee run, no vacancies

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Business Description

This Antique Mall for sale has several sources of income & 4 profit centers for the existing owners. The new owner can slow it down or crank it up to make even more money. Here are the 4 profit centers:
1. Current owner collects booth rent from about 60 dealers/vendors an average of $250/month every month. The nice thing is that seller has a work credit arrangement with about 15 of the dealers. So, for prearranged & scheduled hours that vendors work the floor, they get credit towards their rent. But they cover the whole antique mall not just their booth. They can work their own booth anytime without any compensation. Sweet & simple.
2. Seller gets 10% commission from all dealers sales and dealers pay additional 3% Credit card processing fee. All the sales are finalized at the front counter with the store POS system which keeps track of every sale.
3. Third source of revenue is from consignment sales which is split 50/50. Clients bring their merchandise on a consignment & when the item sells, shop gets 50% of the proceeds.
4. The sellers have set a side roughly a 1,000 SF of the mall space for their personal items and they collect 100% of the sales proceeds. You can continue this part or simply lease out the space to other dealers/vendors and collect rent & 10% commission & 3% credit card processing fee.
Remember, 10 years ago the seller knew nothing about the antiques or retail business. He was a real estate broker. Due to the recession of 2008 & 2009, his real estate business went under and the rest is history. He has made a good living from this business and you can too.
There is no shortage of dealers who want to rent space/booth & set up shop here. Currently the owners work 10 hours each in the shop floor each week. They have a manager that works 3.5 days a week and makes $350/week. There are always 2 attendants working the floor on weekdays. On weekends, many times 3 attendants work.
We are looking for a good fit in a potential buyer. I have giving you a lot of details about the business. So, if you want this business, please complete the attached buyer forms & email them back to nick@nbb-web.com. Feel free to reach out to me via, email, text or call with any questions. My private cell phone number is 404-405-4069.

Attached Documents


Detailed Information

Location:
Cumming, GA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
12,000
Lease Expiration:
10/31/2022
Employees:
3
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
12,000 SF facility that can house up to 80 rent paying dealers. without requiring a build out or other repair expenses.
Competition:
This is the largest Antique mall in a 20 mile radius or more. More the merrier, because a lot of collectors or antique dealers come from Atlanta for a day of shopping spree & hit all the antique stores within 10 to 20 mile and since this mall is the largest, the sellers rep the most benefits. This is a recession proof & amazon proof business.
Growth & Expansion:
The new vendors signing up for a space will be charged more per SF. Seller has lots of ideas for the buyer if they want to expand & grow the business even further.
Financing:
Some owner financing is available to a qualified buyer
Support & Training:
Seller will train the buyer for two weeks after the closing at no extra charge.
Reason for Selling:
Dissolving the partnership. Event planning family business consumes all his time
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(from currently available funds)
 
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Nick Modares

Business Listed By:
Nick Modares

Business Brokers Inc./Atlant Business Ad

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Memberships & Certifications:
Indicates membership in The Georgia Association of Business Brokers (GABB).

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