In retail, there’s a magical number that most owners dream about, but few ever attain: $1,000/square foot. A store that can sell that amount on an annual basis is in a class unto itself. Only one in a thousand stores can reach this rarified air. This business does not only that, but 50% better! This is the retail operation that grosses $1,500/square foot... and does so with only one staff member on the floor at any time.
The secret to its success is a combination of strategic buying, precise planning, enticing product mix, location, and size. For while the inexperienced may be attracted to bigger stores, along with size comes significant inventory outlays, regular maintenance/leasehold improvements, and significant staffing requirements. Smart investors recognize the value in a small, efficient, and tight operation.
This independently owned retailer is one of the premiere gift stores in the most sought-after
destination in Alberta and one of Canada’s premiere vacation spots. From apparel and stationery to jewelry and apothecary goods, the store’s offerings are wide and sourced from the best Canada has to offer. Ownership and staff of this business are passionate about the concept of providing only local and ethical products. Product price points are determined with gift and visitor budgets in mind, allowing inventories to turn quickly while maintaining exceptionally high profit margins.
Located in the busy and beautiful mountain town of Canmore, this turnkey business has been consistently profitable, and boasts increasing revenues year over year. There may also be the opportunity for expansion in the future. It presents a great opportunity for a hands-on entrepreneur with a passion for the culture of the mountains. For someone who would rather be hiking, skiing, or biking, the business has the added benefit of requiring minimal owner involvement. Currently, the owners are never on the floor, and dedicate no more than 15 hours per week on running the operation.
*Note: Asset value includes leasehold improvements
**Note: Inventories are subject to change in value according to time of year
WHY THIS BUSINESS:
• Master-planned business founded and owned by established and experienced retail professionals with exceptional retail analytics; established plan for continued success
• Once-in-a-lifetime sales per square foot
• Very high profit margins, product freshness, turns, GMROI, and CMROI
• Incredibly easy to run and maintain
• Long-term relationships with outside retail analytic planners
• Prime location in high-traffic resort destination
• Low working capital requirements
• Minimal capital investments into new products and brands
• Easy to operate, turnkey business with less than part-time owner involvement
• Top-notch staff, dedicated to helping all customers
• Virtually no product seasonality; no long-term/seasonal buying commitments
• Strong relationships with other local businesses to enhance staff retention and satisfaction
• Offers freedom to explore surrounding areas or maximize owner profits by working in-store
• Established website and strong social media presence