Price Reduced! Established Running Shoe Store

King County, WA (Relocatable)

Seller Financing Available
Price Reduced! Established Running Shoe Store
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Asking Price: $150,000

Cash Flow: $65,053

Gross Revenue: $568,860

EBITDA: N/A

FF&E: $10,000

Inventory: $100,000

Established: 1996

Price Reduced! Established Running Shoe Store

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Business Description

Well known and popular sports shoe shop. 20+ years in business!

This well-known, popular business has been an established destination for Pacific Northwesterners looking for properly fitting footwear, as well as, clothing and accessories for all their running and walking needs for over 20 years. They are known for their friendly atmosphere and knowledgeable understanding of the biomechanics of running and walking to provide comfortable and correctly fitting shoes. Serving the Puget Sound community, they have earned the trust of many sports medicine and podiatry physicians who refer patients for proper footwear and insole fitting. This business has built a strong brand with a loyal customer base.

Detailed Information

Location:
King County, WA
Inventory:
Included in asking price
Employees:
2 FT/2 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The business is located in the storefront of a landmark building with heavy foot traffic in the heart of King County. The 2,290 sq ft store is perfectly laid out and organized for ease of shopping. Sale includes all fixtures, displays, shelving and furniture. The space has over $25,000 in tenant improvements and has been specifically configured for shoe and running accessory sales. Lease is $4,200/month plus $1,000 triple net. The lease expires in 2019 with 5-year renewal option.
Competition:
This business is the only specialty running/walking store in the area. The global athletic footwear market size was valued at $64.30 billion in 2017. It is expected to expand at a CAGR of slightly over 5% from 2018-2025. Growing enthusiasm and awareness regarding health benefits of sports and fitness activities and rising levels of disposable income of consumers are estimated to be the key trends stoking market growth. People are also realizing the importance of using appropriate type of shoes for sports activities in order to prevent injuries. As a result, the demand for athletic shoes is expected to register a sharp rise over the coming years. The running shoe segment dominated the market in 2017. According to Forbes Magazine, the sneaker business has been driven by premium full price shoes. Visits to sneaker retailers last holiday revealed very few markdowns and even those reductions were not deep. The consumer, who is emotionally involved with a product, knows a lot about it and is willing spend an inordinate amount of money on it. The sneaker business is a premium industry. Men’s footwear commanded more than half of the market in terms of revenue in 2017. The segment will continue to dominate the athletic footwear market until 2025. Women’s footwear is catching up gradually as the popularity of sports continues to grow among women, particularly in markets previously unexplored.
Growth & Expansion:
There is a great opportunity to be creative in formulating a marketing plan to maximize social media through the use of Facebook, Instagram and Twitter, as well as, SEO for an increased online presence. Focusing on online sales would be a natural activity to create more revenues. Increasing race sponsorship, participation in health fairs, member appreciation nights at health clubs, local direct mail, networking and PR are a few of the things that could be used to certainly step-up sales.
Financing:
$100k down/$50k for 36 mos. @ 5%.
Support & Training:
Will train for 2 weeks @ $0 cost. The business specializes in shoes for all types of surfaces such as roads, paths, treadmills, elliptical, trails and track, selling the most popular brands on the market. They also carry apparel and socks for all kinds of weather. They sell products for both open water and pool swimming and carry a full line of accessories, from hydration bottles and carriers to watches, heart rate monitors and GPS units, as well as a good selection of insoles, nutrition and sports medicine products. Business management skills such as bookkeeping, payroll, marketing, outgoing personality, as well as general good customer service skills would be needed. A knowledge of the biomechanics of running and walking, as well as, a love of forward-motion activity would be a bonus. The owners will train the new buyer on the biomechanics of running/walking footwear. Seattle and Washington Business licenses would be required.
Reason for Selling:
Owners are retiring.
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Claudia Smith

Business Listed By:
Claudia Smith

Murphy Business & Financial Corporation

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