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13-Year-Old Lakefront Women's Boutique

Saint Joseph, MI (Berrien County)

Seller Financing Available
13-Year-Old Lakefront Women's Boutique
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Asking Price: $250,000

Cash Flow: N/A

Gross Revenue: $400,000

EBITDA: N/A

FF&E: $16,000

Inventory: $70,000

Rent: $1,800 /Month

Established: 2006

13-Year-Old Lakefront Women's Boutique

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Business Description

Turnkey business with 3 state brand recognition

LOCATION: Not only is St Joseph a popular vacation destination, it is also home to an ever-growing number of 2nd home owners, as well as a year-around population of approximately 80,000 people between St Joseph, Stevensville and Benton Harbor. These 3 towns function as one larger community for continuity during the shoulder season, making the summer season a bonus to downtown St Joseph businesses that is unique among resort destinations.

AREA AMENITIES: It is home to the Southwest Tourist Council along with St Joseph Today, both who actively market the area's many draws. This lakefront town boasts miles and miles of award winning beaches. It is a vibrant area filled with amenities such as wineries and wine trails, a rapidly growing craft beer industry, and farmers markets and u-picks. There are festivals/events/parades year around, as well as a strong performing and fine arts presence drawing visitors from the surrounding area. The area also features numerous golf courses, including a Jack Nicklaus Signature Course that hosts the Senior PGA every other year. And, there is quality of life in the form of highly ranked schools, strong employment opportunities and great local healthcare for you and your employees.

BUSINESS: I own an established women's apparel and accessory boutique and am actively planning for retirement. I prefer to sell the business because our customers and especially our community need quality retail options (due to the recent closings of our Carsons, Target, and JC Penney). I am also willing to consider a direct buy-out to make the space available to becoming whatever a new owner envisions, which would allow transition before the summer tourist season. The boutique is the 2nd oldest downtown. It has the largest inventory of apparel and accessories and primarily features popular high quality American and Canadian fashion lines. Many lines have been with us since we opened 12 years ago and have a loyal following. We have more than 5300 fans following on our Facebook page and a group page with another 300. Our clientele tends to be women between ages 35-60 so other social media platforms have not been a priority.

TURN KEY OPERATION: It is a turn-key operation run with customer focused knowledgeable part time employees. Everything is well organized and tracked via Quickbooks Point of Sale. There is positive brand recognition thru marketing materials and ads for the boutique along with a logo and tag lines. Everything is in place for a new owner to take up where we leave off, or as a jumping off point to create your dream business in a successful location of a thriving community.

Our almost 2000 sq ft space has been extensively renovated at our expense to create a retro-urban space with exposed brick walls, lofty tin ceilings and original maple hardwood floors. Merchandise is presented thru an eclectic mix of vintage cabinets/fixtures, iron/glass jewelry towers and mixed with boutique racking. It features massive historic wrought iron chandeliers and new suspended track lighting.

Most importantly, it is in the PREMIER space downtown on the main corner with high visibility and traffic.

Detailed Information

Location:
Saint Joseph, MI
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,000
Lease Expiration:
6/30/2021
Employees:
2
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
We have a strong perpetual lease to protect the $50K in leasehold improvements we made. We re-sign every 3 years and rent increases a max of 3% per year. The business is being sold with all fixtures, racking, furniture and equipment. It includes about $70K of apparel/accessories inventory with a retail value of $175K.
Competition:
Moxie's Boutique is located in a thriving resort community, that also boasts a large local population for year around sales. St Joseph draws customers to its eclectic mix of women's boutiques, wine tasting rooms, and cafes along the boutique trail up/down Lake Michigan. Berrien County has just launched a marketing campaign - VACAY EVERY DAY - aimed at population growth. In addition, St Joseph/Benton Harbor have a 10-year Masterplan being finalized so both these efforts will provide a wonderful foundation for Moxie's continued success.
Growth & Expansion:
Moxie's Boutique is a $5 million dollar business with untapped potential. I have not extensively advertised over the years, so with a focused advertising/marketing plan and increased social media presence across all platforms (vs just Facebook) the growth potential is unlimited. I have lost count of the number of customers who have asked us to open additional storefronts. With a 3 state following, this offers immediate potential.
Financing:
Possible seller financing for portion of purchase price.
Reason for Selling:
Retirement
Business Website:
http://facebook.com/moxiesboutique
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Business Listed By:
Monica Bolin

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