Turnkey Business with Solid Margins

Santa Barbara, CA (Santa Barbara County)

The heart of downtown SB
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Asking Price: $250,000

Cash Flow: N/A

Gross Revenue: $517,320

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $6,654.34 /Month

Established: 2003

Turnkey Business with Solid Margins

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Business Description

Modern designer consignment in a high-end boutique atmosphere

The Closet Trading Company specializes in consigning contemporary designer apparel and accessories for ladies. We currently operate 4 locations in Southern California. The Santa Barbara location is the original boutique, opening on State Street in 2003. As an established business in the community, the The Closet Trading Company brand is well-known and has a loyal following. All it takes is a glance at the Yelp reviews to see the popularity of the business in Santa Barbara!

Self-Subscribed database with 15,000+ names and emails of customers within 60 miles.

Seasoned and trained staff with long-term customer relationships.

Our goal at The Closet Trading Company is to impress our clients with an amazing consignment shopping experience. From the comfortable seating area to the carefully curated racks, attractive displays, and detailed client books, our knowledgeable stylists are waiting to provide a fun and friendly environment where we put our clients first. Our stylists are trained to select the most desirable inventory to consign and purchase, while interacting with and educating the client. Many of us have had unpleasant experiences where we feel unappreciated when selling items from our closets, especially items that hold personal and sentimental value to us. We are aware of this struggle and do all we can to make the selling experience one that our clients will enjoy and look forward to having again and again. We strive to show all of our clients how much fun recycling your closet can be!

The Closet Trading Co is dedicated to consistently delivering high customer satisfaction by providing excellent value for quality designer fashion and superb service, in a beautiful, inviting boutique environment. We will also foster an environment that respects and celebrates differences of all kinds, encourages growth and innovation, treats all employees and customers with fairness and kindness, and above all believes in the value of continuous improvement. The Closet Trading Co is poised for accelerated growth. With the foundation of 16 years of experience, we are ready to implement new technologies to leverage the potential in our existing customer base to increase revenue and profitability in our brick-and-mortar stores, as well as expand our reach through e-commerce.

Detailed Information

Location:
Santa Barbara, CA
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
1,360
Lease Expiration:
12/31/2019
Employees:
5
Facilities:
The Santa Barbara boutique is located in the heart of State Street. Anchors on the block include Apple, Metro 5 Theatres, Marshalls, and Forever 21. The space is 1360 sq ft and fully built out with four fitting rooms, a back office, and a private restroom. Sale includes all inventory assets, fixtures, supplies, and client book. Parking is readily available in the public lots directly behind the store and across the street.
Competition:
- $20 billion industry that is expected to double to $41 billion by 2020 - “Sustainability” is currently the top buzzword in fashion and retail - Secondhand is projected to overtake traditional retail in the next 10 years - 51% of consumers plan to spend more on secondhand in the next 5 years - 64% of women bought or are now willing to buy secondhand products
Growth & Expansion:
Due to TCTC's success and growth, the next step of our expansion plans are in franchising. Through a franchise model, we are equipped to support each location to it's fullest with our training programs, processes, and communication.
Support & Training:
The Closet Trading Co. has established proven and easily replicable systems for our stores. Owners will receive 5 days of virtual classroom training, along with 5 days on-site at our corporate office, and continued support through digital marketing, manuals, training guides, conference calls and access to our executive team.
Reason for Selling:
Distance from our corporate headquarters as we expand into franchising
Franchise:
This business is an established franchise
Business Website:
http://www.theclosettradingco.com
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Business Listed By:
Diane Wright

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