DISTRESS LISTING – Over $2m in Gross Profit!

Asking Price:$350,000

Financial overview
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Business description

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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.

This listing is managed by Jason Yelowitz.

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