Franchised Pet Store with High Margins
Memphis, TN
| Asking Price: | $950,000 |
| Gross Revenue: | $1,970,974 |
| FF&E: | $175,000 |
| Cash Flow: | $273,000 |
| Inventory: | $100,000 |
| Established Year: | 2021 |
Listing ID: 2252897Listing provided by BizBuySell
BUSINESS DESCRIPTION
Includes a 3-store franchise territory
This Petland store opened in 2021 and has been growing their revenue each year to get to profitability. In their first year (2022), the revenue was $1.2MM which grew to over $1.9MM in 2023. This year is trending to beat $2.3MM by the end of 2024. They are selling puppies at a very high margin at around 75% Gross Margin.
DETAILED INFORMATION
Location
Memphis, TN
Inventory
Included in asking price
Real Estate
Leased
Building SF
4,080
Lease Expiration
30/04/2036
Employees
15
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
The store is in a busy shopping center with larger anchor stores off I40. It was all built in 2021 with the newest technology, kennels and HVAC to keep the pets very healthy.
Competition
Very little competition. Only competitors are local breeders focusing on one breed.
Growth & Expansion
This store will likely grow to annual revenue levels between $3.5MM to $4.5MM once interest rates drop. Also, this location has the ability to open two more stores in the Memphis area.
Financing
Seller will hold a small note if the full price is paid.
Support & Training
Seller will train for 2 weeks.
Reason for Selling
Seller needs to attend to other businesses in another state.
Franchise
This business is an established franchise
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