Established during the Roaring Twenties, this family owned business dominates its local market niche. Owned by the grandson of the founder, it markets and sells essential consumer products from 15,000 POS optimized in-stock items. The business accesses an additional 70,000 items available for purchase through their on-line website. They leverage ship-to-store, just-in-time delivery for in-store pick-up or delivery to customers. The business also derives 25% of sales from contract services to local businesses and the community. Assets include valuable database of repeat customers. It has earned a superior, five-star reputation on Yelp for providing high-quality products and services at reasonable prices.
The store has seven full-time employees: the owner, a manager, a buyer with an assistant, a receiving & delivery person, two cashiers, and two part-timers. The services division contracts with independent technicians: four full-time & one part-time. Located in Beverly Hills, 90210, the store occupies 4,011 square feet of prime, class A, retail space, plus an additional 500 square feet of storage. The store is situated in a concrete, Type 5, podium construction building, adjacent to an 800 space public parking structure with one-hour free parking. The building provides one of the largest window to square footage ratios of any retailer in the city. Rent is substantially below market @ $1.78 per sq. ft. including storage. Current lease expiration: December 31, 2019. Monthly rent: $8,052.73, with 5% increases annually. A five-year renewal with an additional five-year option can be negotiated with the landlord. A corporate officer of the business has many decades of experience with the landlord and enjoys an excellent relationship. He will expedite the process for qualifying a prospective buyer with the landlord and securing lease extensions.
Please contact me if interested.
David Sternfeld, CPA
4,511 square feet including 500 feet storage
Outstanding Class A retail & service operations. Type 5 concrete podium construction. Sweetheart lease. 800 space 1 hour free parking adjacent.
None Exists; None Possible in city limits.
Franchising. Continued expansion of rapidly growing professional service division.
Monday to Friday: 9:00am - 6:00pm
Saturday: 9:00am - 5:00pm
Support & Training:
90 days owner continuation. Subsequently available for consulting.
Discount for all cash. Owner financing available subject to agreement.
Reason For Selling:
Owner retiring after 25 years in business.