Growing beauty supply & special fashion products business
with est. Sales: $1.45 mil. & Est. Owner’s operating cash flow of $450k.
The new owner took over in the middle of 2019 and immediately embarked on turning the business around. The 12-month sales growth from, mid-2018-19 vs. Mid-2019-20 was about 51%. Going forward, the seller expects that sales have the potential of growing at about 10% annually under proper management. The seller is willing to help the new buyer under a mutually agreed consulting arrangement.
Business highlights: this business is servicing Cleveland and Cleveland suburbs such as Bedford, Warrensville Heights, Garfield Heights, Shaker Heights, Beachwood, etc.
Management’s mission statement: Have the most desirable destination for consumers seeking a 1-stop shopping experience with abundant choices for beauty products & fashion accessories and novelties.
The following are the business’ products & services:
beauty supplies (30% of volume): Great assortment of products offered in large space for ease of choice. This breadth and depth of its products are one of this business’ competitive advantages. This resonates well with the customers who like the wide options they have.
Hair products (30% of volume) augmented with salon demos & services; the wide variety of hair products is serviced with customer education. This is done with demo events by professional stylists.
General fashion merchandise & accessories (40% of business volume): this business segment is the innovation brought in by the seller when he took over the business from the former owner. He turned the large space of the store into a great advantage. He is bringing fashionable merchandise, accessories, everyday use products in large quantities. Many of these products cannot be found in target and other "big box" discount department stores. Then when available, the selections are limited with higher prices.
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