This Redondo Area gourmet specialty food shop specializes in gourmet specialty food sales direct to the retail consumer market and wholesales private label products. The store has a coveted vendor agreement from which they source their specialty farm to table, organic and non-GMO products; however, they are not restricted from what can offer their loyal client base.
This operation is located in a 1,188 square foot retail space that leases for $3,900 per month including common area maintenance expenses (CAM) on a lease that does not expire until March 2020, with a potential 3 year option. All of the business's furniture, fixtures, equipment (with a few exceptions), goodwill and approximately $6,000 in inventory will be included in the sale.
While competition exists from other specialty gourmet food vendors at farmer's markets, or on a broader level from retailers such as Whole Foods, Sur la Table, etc., such parties cannot offer the degree of specialization, customization, knowledge base, recipe suggestions and overall product knowledge and personalized attention that this retailer provides.
New operators can potentially grow this opportunity any number of ways. While opening new locations in markets with similar demographics is an obvious means of expansion, new owners will first likely choose to operate the store themselves to save on payroll expenses while ensuring stellar customer service and getting in touch with their client base. They may also want to expand the product offering to include mushrooms, truffles, cheeses, chocolates, vegetables and perhaps even wine or specialty beers for a variety of complimentary food and beverage pairings. Similar firms have found that attendance at farmer's markets is more lucrative than even a retail storefront. New owners can supplement the store's stable base revenues with those from farmer's markets and adapt that client base to frequent the more comprehensive retail facility. They can also develop the e-commerce store, hold public or private offsite events, offer onsite do-it-yourself workshops where they make their own creations, host offsite cooking classes, etc.
Finally, the venue has gone through the process to build-out and obtain an off-sale wine license. A buyer may pursue this, or with the addition of a refrigerator and prep, they can potentially serve food onsite. Room for expansion also exits in the wholesale private label market, which has not been pursued in any formal manner.
Training: 2 Weeks at 20 hrs/wk