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World Famous Bob Slate, Stationer. Legacy chain in Cambridge, MA
| Asking Price: | $1,150,000 | Inventory: | $600,000 ** |
| Gross Revenue: | $3,223,950 (comments below) | Real Estate: | $4,000,000 ** |
| Cash Flow: | $204,189 | FF&E: | $225,000 ++ |
| ++ included in the asking price ** not included in the asking price | |||
| Gross Revenue Comments: Does not include rental real estate income | |||
Bob Slate, Stationer has been operating in Cambridge, MA for 75 years. This is an opportunity to own a multi-unit retailer (3 stores) permitting professional management to work ON the business, not IN the business. With fully staffed stores and a small warehouse operation, the next owner of Bob Slate is able to work on strategy, corporate finance, expansion plans and marketing.
Described as "a country store for the artistic, academic and intellectual community", Bob Slate, Stationer was started in the 1930s. Now enjoying over $3million in annual sales, there is no other chain like it in the world. Slate's unique presence in the shadow of Harvard University has given it a world-wide presence as these alumni finish their studies and return to positions across the globe.
With a legacy of high quality products and customer service, the Bob Slate, Stationer business model remains current and relevant. However, for the professional manager, there are many opportunities to continue to improve, grow and modernize the operations for even greater revenue and profits.
This is truly one of the most exciting opportunities available in the retail industry.
Facilities
3 stores, 2 of which are in leased and one is owned. Both leases expire in 10-10, but renewal possible at market rents. The Porter Square building totals 11,094 sq.ft. of retail space in four units, all accessible from the street (Mass Ave). The building also houses 5,470 sq.ft. of warehouse space. Slate occupies one retail unit and the warehouse. Two of the other three retail units are currently occupied. Mass Ave is the major thoroughfare through the area, carrying more than 29,000 vehicles/day. Value of real estate is $3,500,000 to $4,000,000.
Described as "a country store for the artistic, academic and intellectual community", Bob Slate, Stationer was started in the 1930s. Now enjoying over $3million in annual sales, there is no other chain like it in the world. Slate's unique presence in the shadow of Harvard University has given it a world-wide presence as these alumni finish their studies and return to positions across the globe.
With a legacy of high quality products and customer service, the Bob Slate, Stationer business model remains current and relevant. However, for the professional manager, there are many opportunities to continue to improve, grow and modernize the operations for even greater revenue and profits.
This is truly one of the most exciting opportunities available in the retail industry.
Facilities
3 stores, 2 of which are in leased and one is owned. Both leases expire in 10-10, but renewal possible at market rents. The Porter Square building totals 11,094 sq.ft. of retail space in four units, all accessible from the street (Mass Ave). The building also houses 5,470 sq.ft. of warehouse space. Slate occupies one retail unit and the warehouse. Two of the other three retail units are currently occupied. Mass Ave is the major thoroughfare through the area, carrying more than 29,000 vehicles/day. Value of real estate is $3,500,000 to $4,000,000.
About the Business
Year Established:1934
Employees:25 full time - 5 part time
Facilities:3 stores, 2 of which are in leased and one is owned. Both leases expire in 10-10, but renewal possible at market rents. The Porter Square building totals 11,094 sq.ft. of retail space in four units, all accessible from the street (Mass Ave). The building also houses 5,470 sq.ft. of warehouse space. Slate occupies one retail unit and the warehouse. Two of the other three retail units are currently occupied. Mass Ave is the major thoroughfare through the area, carrying more than 29,000 vehicles/day. Value of real estate is $3,500,000 to $4,000,000.
Market Outlook and Competition:Growth and Expansion
There are many future opportunities to grow revenue and profits at Slate. Slate has no e-commerce, despite having satisfied customers spread across the globe. The Company does not promote its mail order or catalogue business, although it regularly ships products on request. The chain does very little local advertising, trading on its reputation and long presence in Harvard and Porter Squares. New Slate store could be opened in other similar markets. There are also several areas in which expenses could be examined for savings and increased profitability.
Competition
There is no other retailer in the world like Bob Slate, Stationer. Described as "a country store for the artistic, academic and intellectual community", the range and quality of products is unsurpassed and cannot be purchased in big box office supply stores. The Company has a 75 year old reputation and legions of Harvard alumni, Harvard Square shoppers and other visitors continue to remark about the uniqueness of the store. In a Harvard University study, Bob Slate, Stationer was voted the 4th most popular place to shop in Harvard Square.
About the Sale
Management Training and Support:Owners are committed to a successful transition. The chain is staffed by long-term, professional employees who will remain to facilitate future operations.
Reason For Selling:Retirement
Seller Financing:To be negotiated
KEYWORDS: Retail Stationery Stationary Store Chain Profitable Cambridge Massachusetts MA 02138 Office Supplies
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