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Businesses For Sale   >>   Home Furnish Businesses For Sale   

North Country Gift Shop

Location  New York,United States
Asking Price Range  $250K - $500K
Gross Revenues  $886000
Net Profit / Cash Flow  $87000
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  Yes
Year Established  1993
Number of Employees  6 - 9
Inventory  $396384
Relocatable  No
Number of Employees  6 - 9
Real Estate  Leased
Training  Seller will provide a negotiated transition period.
Reason for Sale  After 20 years, the owner wishes to retire.

The company is a retail gift shop, which initially marketed gifts and home furnishings like dishware, linens, candles, etc. In the last five years, the mix of merchandise has expanded to include clothing, jewelry and accessories, which have become a predominant source of sales. Current inventory is comprised of jewelry, clothing and accessories for women, home furnishings (placemats, trays, glassware, etc.), greeting cards and gourmet foods. The repeat customer base is typically local, but the area is also a magnet for the three surrounding counties.Franklin, Essex and Clinton, in addition to drawing customers from Quebec and the Burlington area of Vermont. The region has a population of approximately 40,000 and draws from the smaller towns of Clinton County as well as towns like Malone, Saranac Lake and Lake Placid. It is the main shopping hub for this northern region, since it has numerous restaurants and a large shopping mall with several anchor stores. The great majority of customers are within a one hour driving distance of the store. There are no other gift and home furnishings stores nearby. There are box stores at the mall, like Home Goods, TJ Maxx and Bed, Bath and Beyond. There is another gift store, 20 miles away in Peru, NY which sells pottery, candles and jewelry. Located in Clinton County, the business occupies 3,500 square feet of space in the shopping plaza. Leasehold improvements were comprised of whatever was necessary to fit up the space for retail use, like carpeting, painting and construction of dressing rooms. Social media can become a bigger part of the marketing effort and will attract younger customers. Another opportunity lies in offering on-line purchasing through the company website. Gift items are still paramount, but the impetus for customers is clearly items like Pandora and Vera Bradley. All of the ground work for the store has been accomplished and a new owner could easily build on what is already successful.

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