They have custom products that they charge 600 to 800 raw or 900 plus if the store puts it together for the customer. Quilts can be a large pattern or made up of smaller “rows”. Avid quilters collect rows from each state, their favorite hobbies, etc. These are very popular with a large mark up.
The owner has 10 hourly part time employees that love the store and make between 11.30/hr and the manager makes 17/hr part time. They are paid hourly and only scheduled when needed.
There are a lot of ways to grow this business: Add new proprietary patterns for people to put together and personalize on their own, add new locations, franchise, do more trade shows, etc. They also bought the adjoining space in December 2018 that now allows customers to pay per hour to use their equipment to create their quilts. The additional space also allows for classes for new quilters along with other types of classes. It creates loyalty, sales, and new customers.
Their location was just purchased in December 2018 and must be bought with the business. It is contingent. They want to buy a home with the proceeds from the sale of their location. It is approximately 3,000 square feet. It is the newest and best looking retail location on the main road coming into their very fast growing community. The real estate is listed for 850K.
Jeff Chapman Eisnaugle
Businessbrokercolorado.com & Jeffchapmaneisnaugle.com