Recent Store Purchases in the Midwest
Purchase No. 1 | |
Gross Sales Net Profit Purchase Price |
$100,000 $40,000 $60,000 |
Growth level with improvements (adding retail footwear) … high. Purchase No. 2 |
|
Gross Sales Net Profit Purchase Price |
$100,000 $40,000 $60,000 |
Shoe repair only Purchase No. 3 |
|
Gross Sales Net Profit Purchase Price |
$80,000 -100,000 $40,000 $20,000 |
General Comments
With the loss of shops in medium-sized towns over the last 10 years, one store owner in Iowa commented, “I’m the busiest I’ve been in 25 years! Iowa needs another 25 shops.”
A new owner in Wisconsin, and former truck driver, was attracted to the work and to the security. “Can’t get laid off ! I get to control my own destiny.”
He also enjoys the satisfaction of doing something people needed. “I enjoy seeing the difference in the product when it’s finished.”