5 Location Apparel Alteration Business in Minneapolis
For sale are five locations of an apparel alteration business located in Minneapolis, Minnesota. The business has achieved success through offering quality service in a timely manner at an affordable price. While alterations comprises of the majority of the business, revenue is also provide other services including repairs, clothes care products, super crease and dry cleaning services.
All stores for sale are situated in A++ shopping centers with high-foot-traffic and the business attributes much of its revenue to walk-in sales. Lease agreements are in place between 2018 and 2026 depending on the location. Each store is staffed with a team of competent and highly trained employees and it has experienced very low full-time turnover. The business has a loyal customer base, with 75% of those surveyed classifying themselves as repeat customers. While a large portion of new customers are generated through referrals, the business markets its services mainly through social media, mall marketing and its online website.
Sales are seasonal and tend to be highest in the fall and winter. Four of the five stores for sale have achieved significant growth over the last five years, three of which in excess of 20%, largely due to improved staff and service. Areas of immediate potential growth include expanding the services offered and franchising the business.
This is an excellent opportunity for an individual looking to acquire a profitable business with growth potential or a retailer looking to diversify while gaining a competitive advantage in the market place.
Asking Price: $1,300,000 USD
FF&E (incl.): $297,000
Non-Cash Working Capital (incl.): $13,000
Revenue (2015): $1,378,000
Normalized SDE (2015): $413,000
Normalized EBITDA (2015): $343,000
*Please note all figures are in USD