I have sold many types of businesses in the past 20 years. Some were more exciting than others. I am excited about this Antique Mall for sale because it is much easier to run this than, say, a restaurant & there is so much more that can be done here to add value. This Antique Mall for sale has several sources of income & profit centers for the existing owners. The new owner can slow it down or crank it up to make even more money. Here are the some of the current profit centers:
1. Current owner collects booth rent from about 50 vendors an average of $2.5 per SF. The going rate is $3/SF. She is starting to charge $3/SF with the new booth renters if one moves out. She has not raised the rents for a long time. The nice thing is that seller has a work credit arrangement with about 15 of the vendors. So, for prearranged & scheduled hours that vendors work the floor, they get credit towards their rent. But they cover the whole mall not just their booth. They can work their own booth anytime without any compensation. Sweet & simple.
2. Seller gets 10% commission from all vendor sales and vendors pay additional 3% Credit card processing fee. All the sales are finalized at the front counter with the store POS system which keeps track of every sale.
3. The seller has set a side roughly a 1,000 SF of the mall space for her personal items and she collect 100% of the sales proceeds. You can continue this part or simply lease out the space to other vendors and collect $3/SF rent & 10% commission & 3% credit card processing fee.
4. A big chunk of her sales, revenue & profit come from selling produce, like farmer’s market. That business tends to be seasonal. But you can run it year-round & make more money.
The owner has been in the business since 2010 & at this location since 2014. She is ready to retire & spend time with grandkids. There is always at least one other employee at the shop. So, you as an owner don’t have to be there. The current owner works 3 days a week at the shop.
There is no shortage of vendors who want to set up shop here. The owner is selective when it comes to picking vendors.
Besides the 5,000-sf shop space, there is a big barn, roughly 2,500 sf as part of the deal and is used for storage. There is also a separate 2-bedroom house included which she uses part of it as her office & rents the other part out. The business comes with 1 open trailer about 16-to-18-footer and one enclosed trailers. If you need it, she will offer the 2014 truck as well at cost. This is truly a turn key operation.
We are looking for a good fit in a potential buyer. I have giving you a lot of details about the business. So, if you want this business, please complete the attached buyer forms & email them back to me so that I can provide you all the info you need to make a decision.