MergerPlace

Running , Walking Shoes &

Washington (King)


  • Asking Price: $179,000
  • Gross Income: $586,951
  • Cash Flow: $44,808
  • Real Estate: Not Disclosed
  • Inventory: $130,000
  • FF&E: $10,000
  • Listing ID: #209686
  • Established: 1996
  • Employees: 2 FT / 2 PT

Business Description

This well-known, popular business has been an established destination for Pacific Northwesterners looking for properly fitting footwear, as well as, clothing and accessories for all their running and walking needs for over 20 years. They are known for their friendly atmosphere and knowledgeable understanding of the biomechanics of running and walking to provide comfortable and correctly fitting shoes. Serving the Puget Sound community, they have earned the trust of many sports medicine and podiatry physicians who refer patients for proper footwear and insole fitting. This business has built a strong brand with a loyal customer base.


Business Details

Primary Business Category: Retail Trade - Clothing
Location: Washington
County: King

Company Information

Year Established: 1996
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 2 FT / 2 PT

Financial Information

Asking Price: $179,000
Gross Revenue: $586,951
Cash Flow: $44,808
FF&E: $10,000
Inventory: $130,000
Seller Financing Available: Yes

Property Information

Facilities:

The business is located in the storefront of a landmark building with heavy foot traffic in the heart of King County. The 2,290 sq ft store is perfectly laid out and organized for ease of shopping. Sale includes all fixtures, displays, shelving and furniture. The space has over $25,000 in tenant improvements and has been specifically configured for shoe and running accessory sales. Lease is $4,200/month plus $1,000 triple net. The lease expires in 2019 with 5-year renewal option.

Growth & expansion opportunities:

There is a great opportunity to be creative in formulating a marketing plan to maximize social media through the use of Facebook, Instagram and Twitter, as well as, SEO for an increased online presence. Focusing on online sales would be a natural activity to create more revenues. Increasing race sponsorship, participation in health fairs, member appreciation nights at health clubs, local direct mail, networking and PR are a few of the things that could be used to certainly step-up sales.

Competition:

This business is the only specialty running/walking store in the area. The global athletic footwear market size was valued at $64.30 billion in 2017. It is expected to expand at a CAGR of slightly over 5% from 2018-2025. Growing enthusiasm and awareness regarding health benefits of sports and fitness activities and rising levels of disposable income of consumers are estimated to be the key trends stoking market growth. People are also realizing the importance of using appropriate type of shoes for sports activities in order to prevent injuries. As a result, the demand for athletic shoes is expected to register a sharp rise over the coming years. The running shoe segment dominated the market in 2017. According to Forbes Magazine, the sneaker business has been driven by premium full price shoes. Visits to sneaker retailers last holiday revealed very few markdowns and even those reductions were not deep. The consumer, who is emotionally involved with a product, knows a lot about it and is willing spend an inordinate amount of money on it. The sneaker business is a premium industry. Men’s footwear commanded more than half of the market in terms of revenue in 2017. The segment will continue to dominate the athletic footwear market until 2025. Women’s footwear is catching up gradually as the popularity of sports continues to grow among women, particularly in markets previously unexplored.

Reason for selling:

Owners are retiring.

Support & Training:

Will train for 2 weeks @ $0 cost. The business specializes in shoes for all types of surfaces such as roads, paths, treadmills, elliptical, trails and track, selling the most popular brands on the market. They also carry apparel and socks for all kinds of weather. They sell products for both open water and pool swimming and carry a full line of accessories, from hydration bottles and carriers to watches, heart rate monitors and GPS units, as well as a good selection of insoles, nutrition and sports medicine products. Business management skills such as bookkeeping, payroll, marketing, outgoing personality, as well as general good customer service skills would be needed. A knowledge of the biomechanics of running and walking, as well as, a love of forward-motion activity would be a bonus. The owners will train the new buyer on the biomechanics of running/walking footwear. Seattle and Washington Business licenses would be required.

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Business Listed By:

Claudia Smith

Murphy Business Brokers