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Listed by:

Advanced Business Advisors

Under LOI - Cigar Store With Smoking Lounge In Michigan For Sale

Michigan, US
Asking Price:
$400,000 Furniture / Fixtures included
Sales Revenue:
$707,964
Cash Flow:
$141,730

Under LOI - This established retail store and cigar smoking lounge is a destination spot for the Greater Grand Rapids and surrounding area’s cigar aficionados, as well as return customers from out-of-state and Canada.

It also services multiple West Michigan golf courses and retail outlets. In business for over 30 years, it is known for a high level of customer service to aficionados and first-time customers alike.

Its walk-in humidor is the largest in West Michigan and is filled with the best premium, hand-rolled cigars in the industry.

This business also offers cigar accessories, pipe tobacco, and ample seating in its clean, comfortable, media-enable lounge in which to enjoy a great cigar with friends and coworkers.

The demographics of the area are favorable to increased customer traffic, and expansion opportunities are present to include online sales and further wholesale.

Property Information

Real Estate:

Lease

Lease Terms:

Gross lease on favorable terms

Location:

Heavily trafficked street

Premises Details:

-Largest walk-in humidor in West Michigan
-Comfortable cigar smoking lounge with ventilation sys.
-State of Michigan Cigar Bar Smoking Exemption
-Well established location within the marketing area

Business Operation

Expansion Potential:

-Gross revenue and cash flow have been steady
-Possible incorporation of food and alcohol
-Open additional locations in underserved markets
-Create additional wholesale opportunities

Competition / Market:

-The lounge is one of four cigar stores in all the local area
-Offers upscale lounge, ranked #1 in the area by Yelp
-Large loyal consumer base
-Offers personalized service
-Sells to wholesale accounts

Reasons for selling:

Owner would like to retire.

Employees:
2
Years established:
25

Other Information

Support & training:

-Owner will train for transitional period and assist with:
-Monthly OTP tax submission process
-Annual smoking exemption renewal process
-Introduction to suppliers/manufacturer reps
-Introduction to customer regulars

Furniture / Fixtures value:
$10,000 - included in the asking price
Inventory / Stock value:
$100,000