Established Turn-key Franchise Business for Sale in Santa Monica

Santa Monica, CA (Los Angeles County)

Seller Financing Available
Established Turn-key Franchise Business for Sale in Santa Monica
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Asking Price: $249,900

Cash Flow: N/A

Gross Revenue: $659,453

EBITDA: N/A

FF&E: $0

Inventory: N/A

Rent: $12,615 per Month

Established: 2003

Established Turn-key Franchise Business for Sale in Santa Monica

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Business Description

The Closet Trading Company buys and sells gently used ladies’ designer apparel, shoes, handbags and accessories in an upscale, friendly boutique environment. We are a data-driven franchise with a simple, disruptive model gaining market share in a rapidly growing industry. Efficient operations yield strong margins and high repeat customer rates. The Santa Monica store is a true flagship, located in the heart of Main Street, one of the busiest tourist destinations in the country. This location has operated as a corporate store since 2011, demonstrating consistent growth and a loyal customer base.
Corporate is now looking to streamline operations and focus on franchise expansion and support, so for the first time in our 17 year history, we are offering corporate stores as franchises. This is a truly unique opportunity to be your own boss, and own a beloved business in Santa Monica. New owner should have management experience, and retail knowledge is advantageous but not required. Asking price includes:
-$40,000 Initial Franchise Fee
-$20,000 Technology Package
-$2,500 Franchisee Training Program
-All inventory in fully stocked 2,500 st ft store. Appx 5,058 items.
-Extensive customer and consignor database. Appx 50,254 customers and 7,906 consignors.
-Financial Representations are based on absentee owner model with a full-time manager and staff. If new owner chooses to be an owner operator and work in the store full-time, payroll expense can be adjusted accordingly
-Beautifully renovated space in Historic Building, featuring 1920’s details such as original brick walls, mezzanine, and 24ft ceilings
-Proven track record of profitability of almost 10 years in current location
-All fixtures, furnishings and equipment
-Fully integrated technology suite including proprietary pricing matrix (appraisal tool), all hardware and software, and AI-powered authentication tool
-Extensive corporate training including 80 hours of on-site and virtual learning and regular support calls and meeting with dedicated business specialist on an ongoing basis
-Corporate marketing support, including graphic design services

Attached Documents


Detailed Information

Location:
Santa Monica, CA
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,500
Lease Expiration:
N/A
Facilities:
2,500 sq ft retail space in the world-renown Main Street district of Santa Monica, CA. 20+ feet of frontage in a stunning stand-alone building, called the “Paloria Building” on the National Historic Registry. Includes all FF+E, upgrades, and renovations.
Competition:
TCTC has a proven track record of success in the resale industry, operating stores for 17 years. The resale industry is booming even in the midst of uncertainty; resale is the fastest growing segment of retail today -Recycling businesses focused on sustainability are on trend and growing, and are especially important to Gen Z and Millennial customers -The shared economy represents the greatest opportunity for entrepreneurs now and in the future -The service resale stores provides to their customers makes us an important part of their communities
Growth & Expansion:
Tremendous opportunity for owner-operator to enjoy 6-figure income, or for an absentee owner to rapidly expand to a lucrative multi-unit venture.
Support & Training:
TCTC Franchisee Training program includes 80 hours of education covering all aspects of business ownership, including marketing, financial planning and management, hiring, technology, product knowledge, communications, organization, and customer service.
Reason for Selling:
Corporate store being sold as franchise location
Franchise:
This business is an established franchise
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Business Listed By:
Johanna Zlenko

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