Live And Work On A Tropical Island--Siesta Key, Fl

Business Overview:

Escape the high taxes and cold winters up North and live and work in a tropical paradise on Siesta Key, Florida.

Siesta Key Village is just off the mainland of Sunny Sarasota, Fla.This is a charming Village in walking distance from the number one pristine beach in the country. The village has over a hundred shops, with a mix of restaurants, bars, hotels, boutiques and national tenants, including upscale establishments. The Village comes alive after sunset, with tiki bars, live music, karaoke, and great food. Roughly 6,000 local residents live on the Island year-round and over 350,000 tourists visit this Village annually.

There are 3 new hotels going up on Siesta Key. A number of new shops are opening up directly across from this Jewelry store, including a  new Tommy Bahama Store, and an Alvins Beachwear store.  This will all increase foot traffic on the island and generate more business for the Jewelry store.  Many europeans travel to Siesta Key annually and spend a significant amount of money while vacationing here.

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Property Features and Assets:

Located in an upscale strip center, this store consists of 700 Square Feet of space and has a below market lease (Lowest on the Island). There is  11/2 years remaining on the current lease. Owners have spent $30,000 on leasehold improvements.  Included in the purchase price is $150,000 of Inventory at owners cost and per the owner having a retail value of $500,000. Also included in the purchase price is all repair equipment having a value of $30,000.

Market Competition and Expansion:

There are is very little competition due to the unique niche market served and because no other store on the island does jewelry repair. This business has been owned and operated on the island by the same owners for 31 years. They enjoy a lot of repeat business from year round locals and the hundreds of thousands of tourists that vacation on this island each year. 

The upside potential for this business is tremendous.  The store is only open from 10:00 A.M. to 5:00 P.M. daily leaving a lot of revenue on the table. A buyer could remain open until 9:00 P.M. daily. The island comes alive after 5:00 P.M. with tiki bars, live music, karaoke, and great restaurants. Owners have not had a price increase in 13 years. A small increase would increase revenue without losing customers. Owners do no internet sales and do not take advantage of social media. New lines of jewelry could be added.

Reason for Selling:

Additional Details:

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