Richelson's Feet First-NH Custom Foot Fitting and Orthotics Practice

Plymouth, NH

Seller Financing Available

Asking Price:	$199,000
Gross Revenue:	$390,686
Rent:	$2,800/Month
Established Year:	1992

Cash Flow:	$105,227
Inventory:	$8,000
FF&E:	$11,050

Listing ID: 1951776Listing provided by BizBuySell

BUSINESS DESCRIPTION

Richelson's Feet First was established in 1992, and is a professional group based in New Hampshire. They offer a direct approach to identifying their customers’ personal needs and creating appropriate solutions regarding ski boot fitting, footwear selection, and modification and performance enhancing services. Their expertise is in solving the most difficult fit and performance problems for ski racers, recreational skiers and snowboarders, as well as for athletes in other sport activities such as running, cycling, and hiking.
Experience in the industry is helpful, but anyone who is detail oriented, artistic, and wants to be a hands on craftsman can be trained to do custom orthotics. The seller is willing to stay on in a consulting role for as long as a buyer needs to ensure that the transition is as seamless as possible.
The business has a wide variety of over the counter and custom orthotics available to address customers’ particular needs. They also have an exclusive ski boot manufacturer database representing over 350 ski boot models which allows them to find the best boot for unique feet. The company works with individuals who suffer from medical conditions to identify the orthotics to address their specific condition.
Assisting in the maximization of footwear related athletic performance is also a popular service offered by this business as they can assist their customers in selecting the right style, brand, and model of custom orthotics based on specific performance needs. They have decades of expertise in running, cycling, walking, hiking, dress, and golf orthotics.
The business mix is 58% custom orthotics, 21% ski boot service, 14% footwear sales, and 7% ski boot sales.
Repeat clients are the foundation for this business although the seller estimates that he is currently seeing up to 10 new clients a week as the business continues to grow, supported by minimal advertising or promotion.

DETAILED INFORMATION

Location

Plymouth, NH

Inventory

Not Included in asking price

Real Estate

Leased

Building SF

1,980

Employees

Furnitures, Fixture & Equipment(FF&E)

Included in Asking Price

Facilities

The two locations offer ample, professionally designed space with enough square footage for reception, fitting rooms, manufacturing space, and storage.

Competition

The closest competition is 20 miles away and concentrates primarily on ski boot fitting. There is also a podiatrist as well as an orthotics firm 42 miles from this business. This company’s competitive advantage revolves around its superior product offering and service; quick turnaround; and long-standing reputation after 45 years in business with a database of almost 10,000 clients. Their competitive challenges involve premium pricing, smaller stock inventory, and reliance on prescriptions for custom orthotics.

Growth & Expansion

The current owner believes that adding a location in southern New Hampshire would greatly expand the market. Online and social media marketing plans need to be magnified and expanded. Building up the company’s referral network with retail outlets and other symbiotic businesses would result in long term and sustainable revenue and profitability increases. The addition of additional technology such as 3D printing would increase the scope of services offered and create more effective efficiencies. Bringing a prescription service in house.

Financing

Minimal based on strength of the deal.

Support & Training

Seller is willing to train up to two weeks at no charge. He is also willing to assist the buyer during the transition for up to 3 years in a capacity as negotiated.

Reason for Selling

The seller is looking to retire.

BUSINESS LOCATION

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