New
Quilting Materials and Supplies
This retail shop is more than quilting. It carries a variety of Kits, Patterns, and Supplies for embroidery, cross stitch, applique, garments, dolls, totes, paper piecing, wall hangings, and more. Regularly scheduled classes cover everything from beginners to advanced and sew-along groups for the more social members.
Highly skilled and professional staff. Key personnel have been with the company for more than five years on average.
A reputation of being one of the highest-quality companies in the area. Quality products, a large selection, and excellent service have made this business the go-to shop for quilting and fabric supplies in central Virginia.
Customer retention is excellent with a very loyal customer base. 85% repeat business ensures continuity of operations.
Listed By: Michael Mitchell
Background information
Reference:
42430849-MM
Year established:
2005
Reason selling:
Health issues
Finance
Sales:
$200,000
Profits:
$45,000
Profit type:
Discretionary Earnings
Operations
Employees:
The Company has made it a priority to recruit excellent employees and train them thoroughly. Ten part time employees (including the owner) account for 80% of the payroll as shown in the Table below. Two employees staff the store, one covering the counter and checkout and one roaming to provide service to customers. The hourly rate of these PT employees is $10/hr.
Equipment:
A total of $25,000 FF&E (fair market value) is included in the sale.
Inventory:
The price includes $170,000 in inventory, at the seller’s cost.
Premises
Facility:
The shop is divided into several areas for different types of fabric - batiks, new merch, solids, cross stitch There are bins in the middle of several of the sections that hold small precut fabric pieces. The layout is also wheelchair accessible. There is a ramp to the front door from the alleyway. Access to the alley is easy from the parking spaces in front of the building. There are two bathrooms and two offices in the back. There is also a large unheated/uncooled space in the back for storage.
Square footage:
3,600 sq. ft.
Rent and lease terms:
$3,478
Location:
The boutique shops in this unique shopping area offer a mix of home furnishings, antiques and gifts. You will find a home decor consignment shop where retro, hip & vintage all come together, a locally-owned lifestyle shop featuring home decor, furniture, rugs, gifts, jewelry, accessories and baby item, a Farmers' Market and something unique for everyone! The charming group of owner operated stores draws customers from Richmond and the surrounding counties.
Opportunities
Growth:
Growth opportunities will continue to change as the market changes. Customers continue to purchase on-line as well as visiting the store.
Market:
There is limited competition in the local market. Competitors are geographically spread out with little overlap of the customer base. Customers are drawn by the wide selection of high-quality fabrics and related yarns, threads, kits, and supplies.
Price and terms
Price:
$225,000
Down payment:
$225,000
Training:
The owner will make an orderly transition over 4 weeks at no additional charge. Additional training/consulting is available at a mutually agreeable rate.