Description Due to plans to relocate to Europe, for sales is a rare opportunity to own the leader in tuxedo / suit rental business in Southwestern Ontario with a long established brand and strong reputation.
Based out of London, this multi-award winning formal wear store recently expanded into men's wear with great results and has seen consistent growth in bottom line profitability since.
The business operates in several cities in South Western Ontario as well as wholesales tuxedo rentals to wedding related businesses.
Strong financial performance including consistent growth in Seller's Discretionary Cash combined with many opportunities to grow sales which are presently not being focused on make this a great opportunity.
This business can be successfully operated with no requirements for specialized or technical skills beyond hard work and the desire to provide a great service for customers. Presently business is run as an owner/ operator but the owner no longer does sales and acts as an administrator. Great knowledgeable staff take care of the operations and sales.
Easy ownership transition. Owner willing to stay on and train.
Selling Price: $900,000
- includes inventory, vehicles and equipment on the books at $315,000 but worth far more given rental inventories very fast accounting depreciation.
Up to $300,000 financing available secured against the inventory from the seller.
Real estate (main location and warehouse - 9,450 sqf) may be available for sale and is in addition to the purchase price. Favorable lease rate at $8/sqf can be offered to purchaser.
Real Estate Asking Price: $ 865,000
Building sale financing also available if required from owner.
Onsite Transitional assistance available and included up to 3 months. Ongoing remote support always available as seller wants the business and staff to remain successful.