Back to Listings DISTRESS LISTING - Over $2m in Gross Profit!

Asking Price : $350,000

Annual Gross Revenue : $3,289,220

Annual Net Profit : $0

Profit Multiple : N/A

Inventory Value: -

R-Index : N/A

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From the Broker

This listing has both great qualities and "needs improvement" qualities. It is open to experienced entrepreneurs who have cash to make a deal quickly.

The business sells handbags and accessories that look like leather, but are vegan. This taps into a large trend of people wanting the lifestyle associated with traditional animal products, but without any cruelty to animals themselves. The business has consistently done over $3 million per year in sales with over $2 million per year in gross profit. The net income has bounced around considerably from negative ~$12k in 2018, to positive ~$446k in 2017. In the trailing twelves months, net income was ~$33k. The owners have admitted to mistakes with logistics and overspending on advertising. The belief is that an experienced entrepreneur might be able to right the ship and produce a more reliable bottom line profit. The listing price INCLUDES about $130k of inventory. It also includes significant social media cred.

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Sale Pending: Yes

First Seen: Mon, Jun 3rd 2019

Last Updated: Thu, Jun 13th 2019


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