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Tuxedo And Suit Rental Business
Location: United States -> Connecticut -> Danbury
Industry: Retail > Wedding / Formal Rental




Business Summary

Price Reduced to $199,000

FYI…During the Pandemic thousands of weddings were postponed

This business rents & sells tuxedos and suits, along with shirts, ties, vests, shoes, etc. for formal occasions like weddings, proms, black tie events, funerals, award ceremonies & special events.

Renting makes sense, especially for seldom and one-time events, or when you want the latest styles, colors, and custom fitting.

Business also sells new and used tuxedos and suit combinations, and does expert alterations.

Business Info:
…Full inventory of up-to-date tuxedos & suits. Over 1,600 jackets in inventory.

…Business rents +/- 2,350 tuxedos, suits, etc. at an average price of $170 per rental.

…Business started in 1982 (40 years).

…Current Owner purchased the business in 2008 (14 years).

…Sales for the 3 years before the pandemic averaged over $400,000 per year.

…Cash Flow (SDE) after business expenses averaged over $170,000 per year.

…New Owner Projected Proforma sales (after the pandemic is under control) is estimated at +/- $433,600.

…New Owner Projected Proforma Cash Flow (sellers Discretionary Earnings) after the pandemic is under control) is estimated at +/- $190,000.

…Current rent is $3,606.16 per month including all the nets. The landlord must approve a new tenant.

…Business is selling for $199,000 including inventory.

…Owner will help you take over the business, regardless of the time of the year by offering up to a month of training.

…Owner financing: No Owner financing is available.

Interested buyers MUST sign our Confidentiality Agreement and fill out the Questionnaire before any additional information is received.

If you're in the business and want to expand – what are you waiting for? You should be writing up an Offer already.

If you want to get into this business – this business might be for you too – but act qu


Financials

Asking Price Range:  $250K - $500K
Gross Revenues:   $433,000
Cash Flow:   $190,000
Cash Flow Type:  Sellers Discretionary Cash
Inventory:  $100,000
Seller Financing:  No

About The Business

Year Established:  1982
Number of Employees:  1 - 3
Relocatable:  Not Disclosed
Franchise:  Not Disclosed
Current Real Estate:  Leased
Property:  Property For Lease

About The Sale

Management Training and Support:  Owner will help you take over the business, regardless of the time of the year by offering up to a month of training.
Reason For Selling:  Retirement

Photos

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Tuxedo And Suit Rental Business Photo 1




Print Listing Id: 700372116
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Related Searches: Catalog and Mail Order Retail  >  Clothing and Footwear Retail  >  Computers and Electronic Equipment Retail  >  Convenience Stores Retail  >  Florist Retail  >  Health and Beauty Supplies Retail  >  Home and Garden Retail  >  Movie Rental  >  Wedding and Formal Rental  >  Other Retail  > 

Also See: Franchise Opportunities > Franchise Resales > Connecticut Businesses For Sale > Connecticut Franchises For Sale > Connecticut Business Brokers



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