Boutique Wine and Spirits Shop for Sale in NYC - 33547

Financing

$625,000 Down and The tax returns of the business should support your ability to get bank financing

Business Description

The financials reflected here are for 2020. Gross revenues and cash flow were up 18% and 45% over 2019's, respectively. Through this October, 2021 is tracking a bit ahead of 2020, This Absentee-Run Boutique Wine & Spirits Shop is located in one of the most upscale and frequented neighborhoods in Manhattan. The owner, who used to spend at most 10 hours/week at the shop, has visited the store no more than once a month, since the Covid-19 pandemic broke out in March 2020. He has a knowledgeable staff that basically runs the store for him, while keeping his finger on the pulse of the business from afar. Should you decide to be more hands-on, you could put up to another $100K in your pocket through staff reductions and continue to improve the store's already superb customer service, as the owner only can. There are 4 FT & 1 PT sales people on the floor and 2 2 FT & 1 PT delivery/stock people. The shop specializes in small-production, earth-friendly wines from around the world and supports smaller, family-run vineyards, where true passion and generations of pride go into the winemaking -- where quality is still valued over quantity. You will find a fine selection of craft-spirits there as well, including small-batch whiskeys, which are very popular these days. Of course, you can transform the product mix to your liking, once it's yours. Rent and RE taxes combined average out at about $25K/month. The rent escalates at just 2.25%, annually. Given that this is an absentee-run business, that there are 12 years left on the lease, and the seller is backing up last year's CF of $167K with this year's equivalent, his ask of $625K is more than fair. He will, however, consider any & all reasonable all down offers. As is the case with all wine & liquor stores, the inventory is not included in the ask. It averages between $200K to $250K, depending on the time of year. Upon visiting the location, please do not say anything to the employees or customers, as they do not know the business is for sale. Then, kindly email the listing broker, Jay Goldman, to make an appointment to speak with the owner and then get a full tour of the facilities. Mr. Goldman can be reached at jaygoldman@vestedbb.com. If you are new to Vested Business Brokers, please become a free registered buyer under listing 33547 at www.vestedbb.com. To obtain its address, kindly upgrade to premium membership on our website.

Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.