In retail, there’s a magical number that most owners dream about, but few ever attain: $1,000/square foot. A store that can sell that amount on an annual basis is in a class unto itself. Only one in a thousand stores can reach this rarified air. This business does not only that, but 50% better! This is the retail operation that grosses $1,500/square foot… and does so with only one staff member on the floor at any time.
The secret to its success is a combination of strategic buying, precise planning, enticing product mix, location, and size. For while the inexperienced may be attracted to bigger stores, along with size comes significant inventory outlays, regular maintenance/leasehold improvements, and significant staffing requirements. Smart investors recognize the value in a small, efficient, and tight operation.
This independently owned retailer is one of the premiere gift stores in the most sought-after destination in Alberta and one of Canada’s premiere vacation spots. From apparel and stationery to jewelry and apothecary goods, the store’s offerings are wide and sourced from the best Canada has to offer. Ownership and staff of this business are passionate about the concept of providing only local and ethical products. Product price points are determined with gift and visitor budgets in mind, allowing inventories to turn quickly while maintaining exceptionally high profit margins.
Located in the busy and beautiful mountain town of Canmore, this turnkey business has been consistently profitable, and boasts increasing revenues year over year. There may also be the opportunity for expansion in the future. It presents a great opportunity for a hands-on entrepreneur with a passion for the culture of the mountains. For someone who would rather be hiking, skiing, or biking, the business has the added benefit of requiring minimal owner involvement. Currently, the owners are never on the floor, and dedicate no more than 15 hours per week on running the operation.
**Note: Asset value includes leasehold improvements
***Note: Inventories are subject to change in value