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Profitable Party Supply Store Near the North Carolina Coast

Jacksonville, Onslow County, North Carolina 28540, United States
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Asking Price$495k
Revenue$1.10m
EBITDA-
Cash Flow$235k
Description
Party Suppliers is an independent party supply store located in Jacksonville, North Carolina, and serving additional markets from New Bern to Morehead City near the North Carolina coast. It is located in an established outdoor in-line shopping center in a busy retail district, alongside other tenants including Marshall’s and Lane Bryant and within blocks of dozens of other retailers and restaurants. Established some 28 years ago, sales and profitability have grown steadily under current ownership. The owner employs a full-time manager in the business and is not involved in day-to-day operations, although he expects the store manager to retire soon and therefore is seeking a buyer who is interested in actively managing the store. Cash flow presented in this offering includes actual salary and benefits paid to the store manager as well as officer compensation to the owner, on the expectation that a new owner would integrate the owner and manager roles and retain all related cash flow. Party Suppliers is the only full-line party supplies store in Jacksonville, North Carolina, and serves additional markets along the North Carolina coastal region that lack a full-line party supply store, including the cities of New Bern, Morehead City and nearby beach communities. It offers a broad range of products for birthday, special event and holiday celebrations.
Real Estate
Leased
Inventory
$250kIncluded in Asking Price
Business is
Absentee Owner
Year Established
1994
Reason Selling
Owner wishes to pursue other business interests
Facilities & Assets
The principal assets of the business to be sold include all furnishings, fixtures and equipment (to the extent owned) located in the store, equipment including banner printers and party rental equipment, social media, website and other marketing assets, goodwill, and product inventory with an estimated average value of $250,000 at cost. The buyer will be required to assume the remaining term of the lease, which will require the approval of the landlord, and the license for the POS software.
Support & Training
Owner and store manager will provide transition support and training for a reasonable period after closing.
Market & Competition
Party Suppliers is the only dedicated party supplies store in Jacksonville, North Carolina, and serves other cities and towns in the North Carolina coastal region.
Growth Opportunities
Implementing delivery services and particularly to other nearby cities and towns would expand sales revenue and profitability. Also, building out e-commerce website functionality
Financing Options
Business is prequalified for SBA financing for a qualified buyer
Asking Price$495k