Established Men's Formal Wear Store in Busy Shopping District

Asking Price$849,000

Cash Flow
$200,000
(Seller's Discretionary Earnings)
EBITDANot Disclosed

Gross Revenue$350,000

Inventory$140,000
Included in asking price
FF&E$20,000
Included in asking price
Employee Entrance and Exit
Featured Displays
Front Window Display and Entry
More Featured Displays
Featured Designer Formalwear
More Interior Angles of Inventory and Custom Millwork
Large Assortment of Accessories in Custom Millwork
Store View Featuring Premium Selection
Main Storefront in Busy Outdoor Shopping District
Main Entrance Showing Complimentary Neighboring Businesses
Spacious Dressing and Viewing Areas
More Inventory and Displays
Assorted Accessories and Shirts
Expansive Back of House Space with In-House Inventory
Another Comfortable Dressing Room
Back-of-House Work Station and Desk
Employee Entrance and Exit
Featured Displays
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Established Men's Formal Wear Store in Busy Shopping District


Asking Price$849,000

Cash Flow
$200,000
(Seller's Discretionary Earnings)
EBITDANot Disclosed

Gross Revenue$350,000

Inventory$140,000
Included in asking price
FF&E$20,000
Included in asking price
Business Description
40 Years in Business, Owner Ready to Retire
Step into a thriving opportunity with a well-established formalwear business located in the retail heart of Miami. This turnkey operation boasts a robust in-house inventory, including over 600 tuxedos and suits accommodating sizes up to 70, more than 100 pairs of new and gently used rental shoes, and an extensive selection of formal accessories such as vests, bowties, cufflinks, and shirts. The store is thoughtfully designed with fine custom showcase displays, high-end mannequins, and specialized equipment like sewing machines, washing and drying units, an iron press, and a large refrigerator to ensure garments are maintained in pristine condition. Multiple storage and changing areas enhance the customer experience, making it a preferred destination for same-day tuxedo rentals and last-minute formalwear needs.?

Strategically positioned with optimized business listings that secure first-page search engine rankings, the business has cultivated a loyal clientele primarily through word-of-mouth and walk-in traffic. Despite minimal marketing efforts, the business has demonstrated consistent performance, indicating significant growth potential. A new owner could capitalize on this untapped opportunity by investing in a dedicated website and targeted marketing campaigns to expand the customer base further. The existing lease offers an extension opportunity, providing stability and continuity for future operations.?

To ensure a seamless transition, the current owner offers up to three months of in-person training and support, covering essential business operations, effective sales techniques, and valuable insights into local industry trends. Additionally, the new owner will benefit from an established network of third-party product suppliers and supporting industries, facilitating continued success. This is a rare chance to acquire a reputable, fully-equipped formalwear business with a strong foundation and ample room for growth in Miami's vibrant market.
About the Business
Years in Operation
15
Employees
2.5
Facilities & Assets
*Exact retail inventory qty and value available upon request as products are constantly being purchased and reordered.

600+ Tuxedos and Suits (Up to Size 70) // 100+ Pairs of New & Used Rental Shoes // Large Selection of Formal Accessories (Vest, Bowties, Cufflinks, Shirts) // Fine Custom Showcase Displays & Millwork // Sewing, Washing, and Drying Machines // Iron Press // Large Refrigerator and Sinks // Multiple High End Mannequins // Lighting Fixtures // Optimized Storage Shelving and Cabinetry // Multiple Storage & Changing Areas
Market Outlook / Competition
A Men's Warehouse was located just down the street, but 18 months ago it's roof collapsed and they moved locations. There is now no immediate competition in the area and the business has seen substantial upside.

The outdoor retail district is healthy and sustainable, with considerable regular traffic.
Opportunities for Growth
Significant opportunity to grow this business. Current owner has relied primarily on word of mouth, walk-in traffic, and basic search. With a new website and some additional marketing dollars, there is a substantial opportunity to grow the client base.
Real Estate
Owned or Leased
Leased
Building Sq. Ft.
1,400
Rent
$6,200.00 per month
Lease Expiration
3/31/2028
About the Sale
Seller Motivation
Owner Retiring After 40 Years Total in Business
Transition Support
Get up to 3 months of in-person training covering business basics, sales techniques, and local market insights. You'll gain access to a network of third-party suppliers and supporting industries, plus learn how to navigate seasonality trends to maximize performance year-round. Everything you need to launch and grow with confidence.
Listing Info
ID
2358717
Listing Views
1828

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Business Listed by: David Craig

Listing ID: 2358717 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.