A Crown Jewel of Jewelry & Gift store with 2 Prime Locations
Business Description
Over a century of offering the highest value jewelry sales, repairs, and high-quality gifts - this jewelry and gift shop has a long-standing history in southeastern Virginia, with two locations in prime shopping districts. The shop is well-known and trusted, boasting a loyal, generational clientele. Current 2024 YTD gross sales are $995,718.97, with an average annual cash flow of ~$100,000. The sale includes $50,000 worth of fixtures, furniture, and equipment (approximately $25,000 per location) and a team of 11 employees. Key selling points include its historical significance, loyal customer base, multiple locations, steady financial performance, and turnkey operation. Growth opportunities exist through potential expansion, developing an e-commerce platform, and enhancing digital marketing. The reason for the sale is retirement. This business represents a unique opportunity for seasoned and new business owners seeking a reputable and profitable investment.
Loyal Customer Base: The business boasts a strong generational loyalty among customers, ensuring a steady revenue stream.
Multiple Locations: Presence in 2 cities provides wider market reach and diversification of customer base.
Steady Financial Performance: With consistent annual cash flows averaging around $100,000, the business demonstrates reliable profitability.
Turnkey Operation: Sale includes all fixtures, furniture, and equipment, allowing for a seamless transition for new ownership.
Experienced Workforce: A team of 11 employees with operations and customer service knowledge adds stability and continuity to the business.
Loyal Customer Base: The business boasts a strong generational loyalty among customers, ensuring a steady revenue stream.
Multiple Locations: Presence in 2 cities provides wider market reach and diversification of customer base.
Steady Financial Performance: With consistent annual cash flows averaging around $100,000, the business demonstrates reliable profitability.
Turnkey Operation: Sale includes all fixtures, furniture, and equipment, allowing for a seamless transition for new ownership.
Experienced Workforce: A team of 11 employees with operations and customer service knowledge adds stability and continuity to the business.
About the Business
- Years in Operation
- 100
- Employees
- 11
- Facilities & Assets
- There are two locations in prime shopping districts
- Market Outlook / Competition
- Having two locations strategically located with over a century of history leaves the competition way behind.
- Opportunities for Growth
- Expansion Opportunities: Potential to open additional locations or expand product lines to attract new customers.
Online Sales: Developing a robust e-commerce platform to reach a wider audience beyond the local community.
Marketing Initiatives: Leveraging social media and digital marketing to enhance brand presence and attract younger demographics.
Real Estate
- Owned or Leased
- Owned
- Not included in asking price
- Building Sq. Ft.
- 9,500
- Rent
- $10,500.00 per month
About the Sale
- Seller Motivation
- retirement
- Transition Support
- The seller will train and transition the purchaser for two months after the sale closes at no cost to the buyer.
Listing Info
- ID
- 2244115
- Listing Views
- 965
Listing ID: 2244115 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.