PRICE REDUCED: Southern Michigan card and gift shop

Contact: Malcolm Fenton
Phone: 616-558-8697
Email: [email protected]

Description:

Founded in 1946 the current owners have operated the store since 1986. For over 30 years, the owners of this very successful and unique card and Gift Company have enjoyed the success it has provided. However, traditional retirement is around the corner for them and, it is time to turn over the keys to someone new.

The business has a well-deserved wonderful reputation for both its integrity and great customer care. Customers return year after year to enjoy traditional cards and gifts as well as new offerings such as toys and kitchenware from the more than 400 vendors that supply the store. The store is a free-standing destination operation drawing customers from several counties.

Annual revenues consistently exceed $950,000, with an impressive $996,000 in sales recorded in 2015. SDE (the normalized cash flow available to pay an owner-operator and service debt) was an impressive $234,000 in 2015. The business is being offered for $674,000 in an asset sale, which has the seller retaining cash and A/R, while retiring all liabilities.

Inventory, primarily gifts and cards, (approximately $325,000 as of September 30, 2016) and all fixed assets are included in the value based listing price (a highly favorable 2.9x 2015 SDE). The real estate, while not included in the business price, can also be acquired. In addition, the seller will offer transition training.  This business requires an owner that knows how to provide excellent customer care so please inquire if you have experience in this area.

Top Vendors:

Swarovski Crystal      Precious Moments    Demdaco    Vera Bradley    Bagallini

Camille Beckman    Department 56    Malden    Melissa & Doug    Center Court

Tervis Tumbler    Yankee Candle

Contact Malcolm Fenton 616.558.8697 or mfenton@praxisbusinessbrokers.com

 

 

 

Location(s): Southwest Michigan

Asking Price: $674,000
Cash Flow: $234,000
Gross: $996,000
Inventory: $325,000

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