This outstanding retail yarn shop, opened more than ten years ago, has become the go-to yarn shop in the area by creating a fun, engaging, personal experience for its customers who take advantage of a variety of classes, webinars, international trips, and have access to some the highest quality yarns available. The business is also a key participant and contributor in numerous activities in the local community.
Both annual revenue and seller's discretionary earnings (SDE) have increased every year since at least 2019: 2019 revenue of $544,566 has increased 43% to $777,225 in 2022 and SDE has almost doubled from $40,384 to $79,662 over the same period. Year-to-date results in 2023 are continuing these positive trends.
As a result of the COVID pandemic restrictions in 2020, the owner quickly moved to improve the on-line sales capability which have gone from almost zero in 2020 to about 30% today; there is a substantial opportunity to expand this. The business sources products from more than 30 vendors around the around enabling customers to have access to some of the highest quality yarns available anywhere.
This retail shop is located at an excellent Main Street location. It is spacious, vibrant, and very inviting for the its customer base. The owner purchased the property a few years ago and will retain ownership of it after the business is sold; as such, buyers can reasonably expect a mutually beneficial negotiation on a future lease.
This is a 100% turnkey business with a number of future growth opportunities. Staff levels are appropriate, a sophisticated inventory management system is in place, and it has an excellent client base.
The Asking Price of $466,000 includes tangible fixed assets, furniture, fixtures, and equipment and inventory ($139,184 as of Aug 31, 2023).
Facilities:
Prime Main Street retail-front shop of 2,125 SF (plus basement storage of approximately 1,700 SF)
Real Estate Available: No
Real Estate Included: No
Detailed Information:
Lender Prequalified: No
SBA Prequalified: No
Rent: $3,700.00
Market Competition: There are few, if any, similar businesses within a one hour drive that offer both the high quality products this shop does and the unparalleled course offerings to its customers. And, all products and classes are available on-line.
This is a quality brand with customers across the US as well as internationally. Growth opportunities might consist of expanded on-line offerings and additional locations (currently just one).
