Listing Number: 6842-83919
This is a once in a generation opportunity to take one of New York's top bridal stores to the next level. Covid-19 created a backlog of weddings and now the bridal industry is projecting sales in the next few years to be among their best in decade. Take advantage and profit from of the owner's desire to retire.
This is not a bridal “boutique” or bridal “store,” this is 30,000 square feet of bridal DESTINATION with a decades-long reputation for quality, value and service, featuring every style imaginable from contemporary to traditional, and at prices to fit every budget. Brides come from all over the Tri-State region and beyond for a one-stop shopping experience featuring famous name gowns and dresses for brides, bridesmaids, mothers-of- the-bride and flower girls and more.
At a time when smaller bridal stores in in the Tri-State region are closing for good, they are poised for a strong comeback from in-store and online sales as well alterations and accessories. Growth opportunities include building out the ecommerce platform and adding services for planning, tuxedos, limousine rentals, honeymoons, entertainment and more.
Hours: Monday-Friday 11:00am-7:00pm, Saturday 9:30am-3:30pm, Sunday 11:00am-3:00pm
Lease: Three years left on 10-year lease, plus renewal. Rent $64,068.88/mo, plus real estate taxes. 30,000sf.
The Transaction: The deal structure will be an asset sale. The reason for the sale is the sellers’ desire to retire. Owner will train for four weeks at no charge. Offered at $888,888.88 (plus inventory).
- Price: $ 888,889
- Down Payment: $888,889
- Sellers Discretionary Earnings: $ 547,639
- Total Sales: $ 5,856,272
- Location: New York, New York
- Inventory: $ 700,000
- FF&E: $ 50,000
- Employees: 47
- Year Established: 1953
- Reason for Selling: Retiring.
- Category: Clothing