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Successful Retail Shop On Beautiful Ocracoke Island, NC For Sale

Ocracoke, North Carolina
Asking Price:
Under $100K (USD) Furniture / Fixtures included
Sales Revenue:
$100K - $250K (USD)
Cash Flow:
$50K - $100K (USD)

Work for 8 months a year! Play, travel, or just relax for 4 months every year. Highly successful and established (over 20 years) business on beautiful Ocracoke Island, NC. Ocracoke is a higher-end summer and shoulder season tourist destination on the Outer Banks of North Carolina.

Ocracoke Restoration is a unique small business currently selling a delightful mixture of antique stained glass, vintage and new jewelry, outdoor products and gifts. Not counting jewelry and stained glass, we have 2341 unique items and we work with 138 different vendors. Sales are just under $200,000/year and sales have tripled over the last 14 years, when we bought the shop from its first owner. I will be 65 next year and it's time to retire!

The shop will need to be moved from its present location after the 2017 season, giving you the opportunity to grow and expand (and I will gladly share my ideas of what I'm sure will work). Ocracoke Restoration is presently being operated as a 400 square foot home-based business. Ocracoke leases are not hard to find and I will be glad to help you find the right spot. Another possibility is to relocate off-island, as I am confident that our unique mix of products would work in many locations.

Included in our asking price are all our shop assets including all vendor contact info, displays and furniture, office supplies, mailing supplies, ad designs and copy, a pull behind good sized trailer, our accounting program, logo and business card design, established web page and Ebay account with 1800 100% positive reviews and Facebook page with nearly 1000 fans as well as 2 weeks of hands-on training. You will be ready to go. The asking price is less than what it would cost to set up a new business, with the added benefit of a great customer base to begin advertising to right away. It is a daily occurrence when someone comes into the shop and says: "You are my favorite shop on the island."

Purchasing our inventory can be flexible. Inventory can be kept at current levels, or inventory can be decreased making it easier for you to afford the initial purchase price. We can talk about inventory and what it might include.

Serious buyers will have access to detailed and accurate accounting records (including all inventory ever sold) dating back to 2004. Gross income for March through October 2016 was $177,000 - our 2nd best year ever, and down about 9% from 2015 (our best year at $193,000) because of hurricane Matthew.

We are asking $70,000 for the business plus the wholesale value of the agreed upon inventory which could be vary widely but my best guess would be from $15,000 to $45,000.

All in all, I would love to find someone passionate about Ocracoke, and someone to take over my baby and love and grow it to an exciting new level - there is room for improvement and I would be happy to share my thoughts about that. If you are a serious buyer, please let's talk! I am willing to work with you.

For any further information, please contact seller below.

Business Operation

Expansion Potential:

Unlimited.

Competition / Market:

None, we are very unique and have worked hard to build our reputation.

Reasons for selling:

I will be retiring. After 14 years of building and operating Ocracoke Restoration as a home based business, my mortgage is paid down and as I will be 65, I will be able to transfer from a private health insurance policy to medicare so I will no longer need to work full time.

Trading hours:

Most shops in Ocracoke, as well as Ocracoke Restoration, are open Mid-March until the end of October, Monday - Sunday, 10:00 am - 6:00 pm. Some businesses are also open for Thanksgiving and Christmas week.

Employees:
1 full time and 1 part time.
Years established:
Over 20 years in business.

Other Information

Support & training:

2 weeks hands on training. I will be living on the island and will be happy to help anytime.

Furniture / Fixtures value:
$40,000 (USD) - included in the asking price
Website:
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Home based:
This business can be run from home.
Relocatable:
This business can be relocated.

Contact Seller

Contact Information

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