This is a rare opportunity to acquire a “gem” of a profitable independent retail and online jewelry business! It has wisely maintained growth by pivoting with the times, not only with regards to COVID but also outperforming the mature jewelry industry. This business is a full-service retail and custom design business that has been consistently outperforming IBIS World Industry Averages for growth year after year.
The business is located in a prime location in one of the most affluent communities on the Eastside. It has 775 SF with a lease that expires January 31, 2022 with potential 5 year option to renew. It is a NNN lease with monthly rent of $3,600/mo.
While industry revenue is projected to return marginal growth over the next five years to 2025, independent jewelers are experiencing strong growth since COVID-19 restrictions were relaxed. IBISWorld estimates that industry revenue will increase at an annualized rate of 0.5% to $29.4 billion during the outlook period. This business has enjoyed continued growth during the same period, outperforming industry data. A strong online presence and professionally managed social media services are creating additional growth for the business.
According to IBISWorld, demand for industry products has remained strong over the five years to 2020, as a result of increased consumer spending during the current period. Furthermore, given that the majority of demand is driven by consumers earning more than $100,000 before taxes, accounting for 64.1% of revenue, the industry has benefited from the growing number of households in this income segment. Historically, bridal products, including engagement rings and wedding bands, have made up a large proportion of industry revenue. However, sales of these products have been affected by a declining marriage rate. The business has 36 plus years of building relationships and a reputation for honesty and transparency, selling products at a fair price, and excellent customer service.
The owner is retiring.
Will train for 2 weeks @ no cost The business provides custom settings and special order precious stones, some "estate" fine jewelry and jewelry restoration, watch repairs and appraisals as well.