Ours is a family business, with no outside employees, owned and operated by a Christian husband & wife team. We have been in business for ourselves for over 35 years now, since March 12, 1983. We are ready to retire and have listed our business with a broker for sale. We are also using word of mouth to spread the news, and hopefully find a new top-notch craftsman to take over our VERY busy shop.
We are asking $100,000 for the business, name and web site NOT included. This price is somewhat negotiable and does include all inventory and fixtures, plus a full five years of customer contact information. You will make money right from the very first day you walk in and take over! INTERESTED? LET'S TALK!
Why buying our business is an EXCELLENT investment...
Our shop is located in a small strip mall, just off the west end of I-640, which is the main bypass around Knoxville. (I-40 goes right through the middle of the city.) We are within 3 miles of downtown Knoxville and the University of Tennessee. The famous Smoky Mountains are within 45 minutes driving distance of our store. The greater metropolitan area, (Knox, plus the surrounding 8 counties), boasts a population of 857,585 according to a 2014 survey. Our population is MUCH higher now. The cost of living is very reasonable here and there is no state income tax. The people are friendly, and the climate is generally moderate during all four seasons. It's a GREAT place to work, live, and raise a family.
There are currently only 4 other shops in Knoxville, and our customer base includes quite a large number of people from the surrounding counties, most don't have repair shops. Walk in traffic usually keeps us backed up enough to promise work 21 to 28 days out from drop-off. We have a LARGE corporate account, so we've had to dedicate two days weekly to get this work done. We have required 50% deposit for the past 30 years, and we provide a 5% discount incentive to customers who are willing to pay in full at drop-off. Most customers are thrilled to take advantage of the discount, so we have a healthy cash flow without having to wait for the work to be picked up.
For the right person, this is a golden opportunity to be your own boss and provide a good living for you and your family. We made a small alcove in the business into a nursery, then later converted it into a playroom. Our son has always had his own space, and access to both parents 24 hours a day. Work your business, raise your child, home school if you wish, and even bring the family dog, we did! We are ready to retire and sell this business to another family who want to realize their own American Dream by working for themselves. This shop can support more than one craftsman in the work area, (up to three comfortably), allowing a buyer the opportunity to significantly increase the earning potential of this location. We have done NO advertising for the past 10 years because we can’t keep up with the work load as it is.
Building Size (Leased Space): 1100 square feet Lease has expired and is currently month to month at $850 with water included. Landlord has indicated the next tenant will probably pay around $1,000 a month with a one to two year’s lease. Electricity and Gas are billed directly to tenant from Knoxville Utility Board. Additionally, several phone companies and internet companies provide service to this area.
Inventory consists of both retail and repair supplies, and generally stays in the $20,000 neighborhood. It is of course quite fluid because of customer purchases and repair work, then we place orders with our suppliers to restock when we can order enough so that they will cover the shipping. So there can be a $2,000 to $3,000 swing in actual value depending on what supplies we have used, the current retail items sold and how many vendors we need to order from at the time. Because we are retiring at the end of this year, we have some items that we are not re-stocking due to slow sales and some items that we will no longer be carrying multiples of. This could possibly lower the overall inventory value to $17,000 by the end of the year.
Total value in Furniture, Fixtures, & Equipment: $116,635
2 Self Standing Double Sided Shoe Racks 2 Wall Shoe Racks 400 Pair of Shoes on racks (most are new, some are factory returns) 40 Pair of high end Tauer & Johnson try-on shoes ready to sell 2 Retail Display Cases filled with leather goods and boot ornaments 2 Floor Stock Cabinets Floor Retail Spinner Rack with Shoe Care Products Floor Retail Spinner Rack with Spenco Insole Products 4 Stationary Retail Racks with Dye and Shine Cream Products 2 Retail Counter Spinner Racks with Kiwi Paste Wax 2 Retail Counter Spinner Racks with Pedifix Products 1 Retail Counter Rack with Angelus Touch Up & Glitter Lite Dyes Storage Base Customer Service Counter & Electronic Price Look-Up Cash Register - Retail Display Cabinet Peg Board walls covered with Shoe Care Products, Leather Belts, Leather Collars & Leashes, Vibram Sole Display Neon “SHOE REPAIR” sign with 12 inch letters on acrylic board backer Neon “OPEN” blinking sign with 10 inch letters Colorful LED “OPEN” oval sign in second window Kirby Vacuum Cleaner complete with Carpet Shampoo Kit Microwave Oven Residential Refrigerator /Freezer on top Pantry/Dish Storage Cabinet Adler 30-1 Patch Machine on stand (Electric or Foot Treadle) Craftsman Air Compressor (2) Landis Curved Needle Stitcher (1 black thread, 1 white thread) Landis Curved Needle Stitcher (needs part to work) Fimac C Mascotte Lockstitch McKay Outside vented Dye Booth Heel Popper Fume Buster Ventilation/Filter Booth Stacked Tool Chest on Wheels with large amount of tools Nosecone 12 Boot Model Nosecone Continental 8 Boot Model Nibbler Artisan Stitcher and base table on wheels Surefoot Heel Press Sutton Finisher (2 belt sanders, edge trimmer, 9x11 wheel, 4 brushes, 2 burnishers, 1 iron) Ceiling Mounted 3 speed Air Circulation Fan Duo-fast Staple Gun 2 tall Jack Stands with Lasts 5 in 1 Cutter Hand Crank Splitter 2 Nail Trays Large Assortment of Shoe Stretchers including boot shaft stretcher