Party Supply Store- Profitable, Great Location- 2023 Revenue Up 8.5%
For Sale in Kingsport, TN
Financial & Assets Details
About the Business
Here is your opportunity to own a profitable retail business that caters to party goers, wedding event planners, and special event promotions. According to Businesswire.com Research, party supplies are the essential items and accessories required to organize a party or event. Party supplies include balloons, banners, lights, candles, decorative bags & boxes, and others. Growth in the wedding planning and event management industry is fueling growth in the market. This spells opportunity!
With the recent announcement that the only national chain party supply store in our market area was closing, the prospects for this business are huge. Already the owners have been getting phone calls and new business.
This business has strong ties to several regional corporations that demand high-quality decorations for special events. This business is a standout in the Tri-Cities market. A new owner will enjoy starting out with a loyal customer base that can help insure revenue and sales success for day one; revenue from the first day.
Growth & Expansion
See Market & Competition section. This business is well positioned to dominate in its market due to the depth of inventory, high word of mouth referral business, and the trend toward extensive balloon-based decorations for corporate and wedding events. Wedding decorations is one category that could be more aggressively pursued with an expectation of strong revenues for the effort.
Sales for 2021 compared to 2020 increased $93,000. In the 2022, sales increased 9.24% over 2021. Sales for 2023 are on track for another strong increase due to demand. Competition exists from online stores, supermarkets/hypermarket, specialty stores, and others. Because of the size and inventory depth of this business, this business is well positioned to compete and continue to be profitable.
Projected growth in the Tri-Cities area to 2030 will further enhance the chances of success for this particular business.
This business is located on a heavily traveled thoroughfare in a strip shopping center with adequate parking and great exposure to traffic. The space occupied is 3,100 square feet. Being a retail store that carries extensive inventory, there is an abundance of merchandising fixtures needed to properly display the extensive inventory. The landlord takes care of most maintenance and repair under the terms of the lease agreement.
Support & Training
Seller will provide a reasonable amount of training to insure a smooth, successful transition. Seller will consider being available to work in the business for a new owner based on mutual agreement on compensation and role in the business.
Reason for Selling:
Wants to spend more time with the family.