Turn-key Well Established Retail Gift Store and Woodcraft Shop

West Point, NY
Asking Price:$100,000
Inventory:$50,175
FF&E:$14,940
Gross Revenue:$145,000
EBITDA:$110,000
Established Year:2017
BUSINESS DESCRIPTION

Great Location at USMA, West Point Location in the Post Exchange Mall

Imagine a nice clean Mall in the Hudson Valley, where there are no distractions that ruin your day. No one asking for money, no criminals on scooters looking for your valuables to steal.
No demonstrations, no rioting or looting. That would be a great place for a store, and it
actually IS JUST THAT! The Store is My Flag of Honor, and is located in the Post Exchange Mall at West Point. Customers range from 4400 USMA Cadets and their families, to 10,000 support garrison soldiers and families, plus Veterans of all 5 military branches. Add to that international exchange cadets, Sandhurst Games cadets from 30 plus countries and it is a truly exciting experience to deal with soldiers from all over the world. Army Football home games are usually busy traffic days with fans always looking for unique items. Traffic varies from day to day, but many days business is booming and when it is slow I get a lot of work done making inventory for the shop. Busiest times of the year are of course April & May before Graduation, Christmas, and many Family Weekends. Most important is the fact that because of the favorable arrangement in the AAFES (Exchange PX Parent Company) contract I have, if I sell nothing today, it costs me nothing to be here. My rent is a percentage of total sales. NO ELEC, HEAT, AC charges. Just a negotiated percentage which should be transferable to new owner. It is very reasonable, and I will go over that with any SERIOUS prospective buyers.
I have built the business from the ground up, first spending 3 years out in the main hall with a Kiosk setup as a temporay vendor, staying for a week or a month at a time. When this store was vacant for a while, I convinced AAFES to allow me to gut it and renovate it adding my enclosed workshop, mini kitchen and all the retail shelves and areas. I have operated the store for a bit more than 4 years, each year growing the variety of items as well as the inventory. Specialties that are consistently ordered are custom Saber racks for graduating Cadets ($329. - $519.), Cadet Memory Boxes ($429.) as well as smaller gift items for graduation. All year favorites are the custom carved challenge coin racks which I make sure to have all Army branches in stock for the steady flow of veterans and active duty Soldiers who come in. One of the most frequent items I sell are the carved plaques in all branches that Soldiers, Marines, Sailors, Airman and Guardsman buy to give to their buddies who are leaving or retiring.
And then there are the Challenge Coins. Challenge coins are minted coins that have a military branch, unit, or theme on one side and something complimentary on the other side. I stock over 750 varieties and many I have to keep 100 or more in stock due to demand. I have at least 25 varieties of West Point coins alone. Not only do I sell many of these coins, but I use almost as many in the unique creations I make in the shop such as the plaques and sword racks.
A year or so ago I invested in a rotary laser engraver and this has taken off to a point where I stock over 500 cups of various (20oz, 30oz & 40oz) sizes both engraved and ready for custom engraving. I have some that engrave silver, some engrave gold, some rainbow and new ones that engrave blue. I can engrave pretty much any jpeg.


DETAILED INFORMATION
Location
West Point, NY
Inventory
Not Included in asking price
Employees
1
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
975 sq ft total retail and shop. Rent is a percentage of sales, no actual rent, no elec, no heat or ac charged. If I dont sell anything today, it cost me nothing but my time to be here. Contract is for 5 years, percentage negotiable with parent company of PX.
Competition
Being at West Point, there is a certain captive audience for what I make, for example sword racks, challenge coin racks, dog tags, and many other things.
Growth & Expansion
Some items can be expanded by the right person.
Support & Training
I will remain for 1 month after a successful closing to help owner get familiar with procedures.
Reason for Selling
73 years 0ld time to smell the roses.

BUSINESS LOCATION
Report an Issue with this listing
Dennis Coffey
Dennis Coffey