Profitable 35-year Retail Gift Shop in Maui

EXECUTIVE SUMMARY
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This Business is under contract.
This Maui, HI souvenir shop that has been at its current location since 1986. The product mix has not changed over the years and includes T-Shirts, slippers, sandals, hats, hoodies, sunglasses, limited jewelry and other home decor. The store has seen virtually every challenge one might expect over the course of 35 years and is now a fixture in the community and well known to the south shore tourists. The driving reason for selling is they are reaching retirement age and want to move to the mainland.
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BUSINESS HIGHLIGHTS
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35 years in business at same location.
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Survived Covid-19, 9/11 and other recessions.
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Sellers Discretionary Earnings for 2019 Pre-Covid of $302,318
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Low amount of Labor (1 person to run the store) and relaxed environment to work
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Owner gets Air mileage of over 200,000 miles based on ability to purchase inventory via Credit Card
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COMPANY
Listing ID: Maui Gift
Location: Kihei, Maui, Hawaii
Asking Price: 699,000
Gross Revenue in 2019: $819,368
CASH Flow SDE 2019 $302,318
FF&E $10,000
Inventory: Included in asking price: $175,000
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Non Compete: 5 years
Real Estate: Lease Base Rent $8,699 or 9% of sales (whichever is higher) a mo+ GE Tax and CAM Sq Feet 1,970, Lease Expires 5/31/2024
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Employees: 3 part time (including the owner and spouse)
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Training: 2 weeks
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This Business has been pre-qualified for an SBA loan by Diamond Financial.
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Contact HBS for a detailed Confidential Business Profile on this great business.
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