Description

This popular and attractive high-end fashion retail consignment boutique is located in a prime spot in bustling downtown area on Cape Cod. It has been in business for over 11 years and is well known throughout the area. The business has established a following of year- round and seasonal residents. The store, which contains about 830 square feet, is nicely designed and is fully equipped with attractive and functional furnishings and fixtures. There are eye-catching display windows. The space has been upgraded with the addition of two dressing rooms, wall mounted display shelving and carpeting. The leasehold improvements include extensive display and merchandising fixtures and accessories, glass shelving and cabinetry. The value of the leasehold improvements is about $15,000. The store is equipped with a state-of-the-art POS and inventory control system. Consignor Pro Software is designed specifically for use in consignment stores and easily performs all the functions for typical retail as well as those unique to consignment. Also included are a desktop computer, printer and sound system. The estimated cost for hard assets is about $7,500. There are over 3,000 consignors on file. The consignor split is 60%/40% (consignor gets 40%). The split for furs is 50%/50%. The business is known for offering high quality clothing and accessories from upscale and designer labels (“knock-offs” are not accepted). There is a written Consignor Agreement & Terms Policy in place which specifies that only the best fashions and in-style clothing is accepted. The inventory currently in place is attractive and consistent with the store's quality policy. The volume of current inventory is typical for the time of year. The current lease goes through February, 2016. The landlord will write a new lease for up to three years. The monthly rent is $1,027. There are no extra charges other than utilities, which are the responsibility of the tenant. Included in the sale are all the assets of the business including equipment, furnishings, fixtures, POS System, trade name, leasehold improvements, assignment of the lease, customer and consignor lists, computer and technology, phone number(s), website, proprietary marketing, social media, promotional and packaging materials, and other items required for operation of this Turn-Key business along with the store’s unique niche, excellent reputation and good will. Also provided is transitional support and training. The business, including the inventory, is offered at $99,000.

Financial Summary

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