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Tuxedo And Suit Rental Business FYI…During the Pandemic thousands of weddings were postponed. WTNH reported (2/16/22) that 2.5 million weddings will be held in 2022....which is the most the US has seen since 1984...(according to The Wedding Report, a market research firm. (WTNH TV News). So, what does this mean? The Buyer of this business, assuming he/she buys it soon might be able to attain a quick payback on the purchase price. A $299,900 business being able to be paid for in 1 or 2 years ...interesting! Talk to your advisors about this. Maybe you should call for an appointment to visit the business soon - very soon? This business rents & sells tuxedos and suits, along with shirts, ties, vests, shoes, etc. for formal occasions like weddings, proms, black tie events, funerals, award ceremonies & special events. Renting makes sense, especially for seldom and one-time events, or when you want the latest styles, colors, and custom fitting. Business also sells new and used tuxedos and suit combinations, and does expert alterations. Business Info: …Full inventory of up-to-date tuxedos & suits. Over 1,600 jackets in inventory. …Business rents +/- 2,350 tuxedos, suits, etc. at an average price of $170 per rental. …Business started in 1982 (40 years). …Current Owner purchased the business in 2008 (14 years). …Sales for the 3 years before the pandemic averaged over $400,000 per year. …Cash Flow (SDE) after business expenses averaged over $170,000 per year. …New Owner Projected Proforma sales (after the pandemic is under control) is estimated at +/- $433,600. …New Owner Projected Proforma Cash Flow (sellers Discretionary Earnings) after the pandemic is under control) is estimated at +/- $190,000. …Current rent is $3,606.16 per month including all the nets. The landlord must approve a new tenant. …Business is selling for $299,900 including inventory. The inventory is conservatively valued at over +/- $225,000. …Owner will help you take over the business, regardless of the time of the year by offering up to a month of training. …Owner financing: If qualified might finance 20% of Selling Price at 5% over 3 years Interested buyers MUST sign our Confidentiality Agreement and fill out the Questionnaire before any additional information is received. If you're in the business and want to expand – what are you waiting for? You should be writing up an Offer already. If you want to get into this business – this business might be for you too – but act quickly to check it out. That other guy might beat you to the punch!  |
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