Well Established Floral & Gift Shop For Sale

Undisclosed Address, Lubbock, TX
Business Opportunity for Sale
Catylist Listing ID: 30257558
Property Subtypes: Retail Stores
Building Size (RSF): See Agent
Sale Price: $400,000
Gross Revenue: $399,425 (Annual)
Cash Flow: $35,738 (Annual)
Last Updated: 2/15/2019

Overview / Comments

Well established, flower and gift shop proudly serving Lubbock for over 24 years. The business provides a full range of floral arrangements, gifts and services for weddings, anniversary's, birthdays, corporate events, special occasions, funerals and holidays with same day delivery throughout the surrounding area. Profitable business largely due to repeat customers, referrals and online orders. Company's association with nationwide services, Teleflora floral network, provides a large amount of online orders and makes it easy to deliver that special arrangement or gift anywhere in the US. The business has great relationships with vendors (flower market, hard good suppliers, wholesale goods). Business currently has approximately 4,250 house accounts on the books and has served 28,212 clients since opening. Owner is able to tap into a national market Teleflora association as well as local Lubbock market.

Additional Details

Industry Segment: Florist
Reason for Selling: Owner is ready to retire due to medical reasons
Value of Inventory Included ($): $1,500
Value of Furniture, Fixtures, and Equipment ($): $79,500
Value of Real Estate Included ($): $350,000
Real Estate Lease Description: Two-story 7,500 sq ft building with approximately 14 parking spaces. Building features new roof, HVAC unit in good condition and resealed parking lot. Highly visible location in stand-alone two-story building with ample parking space. Building is located on one of the town’s heavily traveled streets and is close to a large regional hospital. Spacious and attractive, building is complete with all necessary furniture, fixtures and equipment to operate floral business. Located in the heart of 34th Street revitalization project. Project recently provided a 5 lane street expansion, decorative street lights, landscaping and improved sidewalks.
Employee/Labor Description: 4 FT/2 PT
Mgmt/Training Support Description: Will train for 2 weeks @ no cost. Two key full-time experienced, seasoned employees with a tenure of 10 years, two additional long term full-time and two part-time employees. No professional certification needed.
Competition/Market Description: Several flower shops in the area however this business has been in place for many years. It has developed a loyal following and is largely driven by location and repeat customers.
Growth/Expansion Opportunities: The business is ready for new ownership and energy to continue its growth. Seller has built a highly reputable business but recognizes its potential in the hands of a new owner. High potential in extending operating hours, becoming a premier florist for local venues, adding and delivering gift items, engaging business contracts and advertising through social media.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,434 92,047 191,923
Median Age: 27.5 29.58 31.99
Households: 6,432 32,817 73,479

Contact

Photograph of Listing Agent

David Powell, CCIM

The Powell Group at Keller Williams Commercial
West Texas CIE Member
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