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Olmsted County Women's Fashion Retail For Sale

Olmsted County, Minnesota, US
Asking Price:
$128,000 (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$595,782 (USD)
Cash Flow:
$76,753 (USD)

For sale is a long established and profitable franchise women's fashions and accessories business in Olmsted County. While sales took a hit in 2020 due to pandemic induced closures, 2021 has been the best year yet for this business. With long-term management already in place and a solid foundation to work from, this business is poised to be a solid profit generator with day-to-day operations handled by staff. Value shopping, recycling via re-using clothing, and the quest for trendy and unique fashion will keep customers shopping for years to come.

This is a turn-key operation with all of the assets needed to run the business included in the sale price, including, furniture, fixtures, equipment, and inventory. In addition, the franchise transfer fee is included in the price, so what you pay for the business is your total cost to get started.

Specializing in retailing gently used women's fashion, this business has a steady and loyal clientele that is supplemented by the many visitors that come to the area every year. A new owner can take advantage of franchisor training and reporting systems to get a solid grasp on the business from the start.

The current owner works approximately 30 hours a week with most of that time spent on marketing and management efforts. If you have an eye for fashion this business will be a fun and exciting opportunity to service customers in a robustly growing community and industry!

Property Information

Real Estate:

Lease

Premises Details:

3,800 sq ft leased facility with selling floor, bathrooms, and an office/break area. The facility lease comes due in 2022 but the landlord is interested in entering into a new long-term lease with the next owner.

Business Operation

Expansion Potential:

This business has been growing consistently over the past decade and 2021 was the best year so far. A new owner that is dedicated to the growth of the store could use local outreach and marketing efforts to drive sales, on top of refining and expanding the current marketing efforts.

Competition / Market:

The Used Goods Stores industry has experienced increasing revenue over most of the five years to 2021. The industry has historically performed counter cyclically to the overall economy, but as income levels and consumer confidence increased early during the period, industry revenue continued to climb. Revenue also increased due to changing consumer and fashion trends, leading to an influx of demand from young consumers. Moreover, numerous social media outlets and TV shows dedicated to altering or selling used merchandise have become popular over the past five years, driving consumer demand for industry products. However, the industry faced significant challenges as a result of the COVID-19 (coronavirus) pandemic, leading industry revenue to decline 16.9% in 2020 alone.

Overall, industry revenue has fallen at an annualized rate of 1.0% to $16.8 billion over the five years to 2021, including an anticipated increase of 7.2% in 2021 alone. During the period, the number of industry operators has decreased. A number of for-profit operators, however, have joined the industry after being drawn by the increasing popularity among individuals for exchanging used goods for cash. The entrance of these operators has resulted in the average industry profit margin increasing during the period. As a result, nonprofit companies have shifted pricing strategies to account for this increased demand, in addition to increased capabilities to take on online competition. However, the coronavirus pandemic in 2020 has resulted in the anticipated exit of many operators unable to weather the temporary closure of nonessential businesses. The number of enterprises has ultimately decreased, falling at an annualized rate of 0.6% to 70,958 companies over the five years to 2021.

Moving forward, industry revenue is projected to rise, increasing at an annualized rate of 0.7% to $17.4 billion over the five years to 2026. Industry operators are expected to endure a lasting effect of the coronavirus pandemic, as consumers have become increasingly comfortable making purchases online. External competition will likely continue to increase as families with higher income levels seek out new, rather than used, items. However, in response to heightened competition, used goods stores are expected to become more specialized, carving out niches in high quality, low-priced used merchandise, such as designer clothing or musical instruments.--IBIS World

Reasons for selling:

Distance from operation has become too far.

Trading hours:

Mon-Fri 10am-7pm; Sat 10-6; Sun 11am-5pm

Employees:
1FT/6PT
Years established:
10 Years

Franchise Information

Franchise opportunity:

Franchise Resale

Other Information

Support & training:

Will train for 2 weeks @ $0 cost.

This business sells gently used clothing to females aged 18-80. Besides general business acumen, the next owner should possess people management skills and a love for fashion. There are no special certifications or licenses required for the business, and a new owner will have to be approved by the Franchisor. Potential areas a new owner could focus on, or hire for, include: 1) reviewing reporting tools, 2) posting on social media, 3) online selling, 4) email campaigns, and 5) community networking.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

$6,600 down /$12,800 down over 60 mos. @ 6% / Other Financing.

Furniture / Fixtures value:
$27,000 (USD) - included in the asking price
Inventory / Stock value:
$54,000 (USD) - included in the asking price

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