Solvang, CA

Solvang, CA Businesses For Sale

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The Sock Loft

Solvang, CA

About The Sock Loft: The Sock Loft is a specialty retail store with its primary focus on socks. With thousands of socks to choose from we offer a fun shopping experience for men, women and children. The Sock Loft also sells clothing, accessories, jewelry and seasonal merchandise. About Solvang California: Solvang California is a Danish-settled busy tourist destination that is rich in history that draws more than 1.5 Million visitors per year. It is located in the Santa Ynez Valley, which is about 45 min drive from Santa Barbara and 2.5 hours from Los Angeles California, and a few miles from the Chumash Casino. The town is bustling with shops, restaurants, bakeries, wine tasting, hotels as well as attractions and activities year round. December is a month long festival of Christmas lights and Holiday activities. Solvang is rated one of the best Christmas destination towns in the USA. Retail Location: The Sock Loft location is the Best-of-the-Best in Solvang CA. It is on the best block of the best street in Solvang. Every tourist that comes to Solvang is anticipated to walk past The Sock Loft. The foot traffic is phenomenal! Little to no advertising is needed. Retail Space: Approximately 1600 Sq Ft total = 1200 Sq Ft of Retail Space + 400 Sq Ft of Back Room. The Retail Space is configured such that 1 employee can monitor and see it all. The window in the front has excellent visibility to draw in foot traffic. The door is situation perfect to alleviate congestion and draw in customers. The size and layout is perfect! PROFIT , SALES and INVENTORY: Established in this location in 2009, The Sock Loft has been profitable since day 1 with net taxable Schedule C income ranging from about $100K to $150K per year and gross sales of $500K to $600k annually with profit margins of 19 to 25%. Inventory is typically about $200K+ at retail. Exclusivity of key inventory protects from competition in the town. Business Operation and Training In 2013 the owners moved from California to Tennessee and since then the store has been operated remotely from Tennessee. You do not need to live in California to operate this business successfully. The store has a excellent manager and staff whom efficiently handle the on-site operations. The owner is the buyer, which can be done from any location. The business is being sold turn-key, including all fixtures, displays, furnishings and equipment as well as buyer product line contacts. Whether you are an experienced business owner, or have never owned a retail store, you will have everything needed to operate this business successfully. Lease and Building: The landlord has agreed to have the lease assumed by the new owners of The Sock Loft, upon their successful qualification. The lease term is 5 years with options for additional terms. The HVAC unit is about 2 years old and new carpeting has been installed in 2020. The store is fully equipped with all fixtures and equipment. The new owners will generate income on day 1. COVID-19: The Sock Loft closed for about 2.5 months during the initial COVID-19 Nationwide shutdown. Since then the store has re-opened with a reduced essential-staff and sales are sufficient to turn a profit during this intermittent time. With the near future likely having less air travel and less Cruise travel, we anticipate Solvang activity to explode with get-away tourism activity in 2021 when the public gets vaccinated. Asking Price: The business is offered for sale at $350,000 plus inventory calculated at 1/2 retail value. This offering is very reasonably set at about 3.5 times a lower-end net profit. The sale is intended to be turn-key includes all fixtures, furnishings, equipment as well as store training and buyer contacts. For additional information: Offered For Sale By Owner/Agent Contact: Tom Gongola Tom.Gongola@gmail.com 865-203-8800

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$450,000

$450,000 - Solvang, CA

Cash Flow: $100,000

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