Rare! Successful Formal Attire Business for Sale

Strategically located in New Castle County, Delaware, this business is a legacy spanning over half a century and is now available for acquisition. A premier family-owned formal attire business, is on the market, offering a rare opportunity for savvy investors or aspiring entrepreneurs to take the reins of this successful enterprise.

Established over 50 years ago, the business has cemented its reputation as the go-to destination for tuxedo and suit rentals and sales. With an impressive inventory of over 2,000 tuxedos and suits, the business caters to a wide array of formal events, including proms, weddings, graduations, and other significant celebrations. This extensive range of offerings, combined with impeccable customer service, has earned the business a loyal clientele from Delaware and the neighboring states of Pennsylvania, Maryland, and New Jersey.

The financial performance of the business underscores its viability and growth potential. In 2023, the business generated revenues exceeding $600,000, with a discretionary cash flow of $161,242 +/-. Such figures highlight not only the business's profitability but also its consistent growth trajectory over the years.

Several factors have been pivotal to its success. The business boasts contracts with numerous organizations, ensuring a steady stream of clientele. Moreover, its strong community ties and sterling reputation have made it a beloved institution within the local area. These relationships have been fostered by the dedicated team of seven full- and part-time employees, whose commitment to excellence has been instrumental in maintaining high standards of service.

The high-visibility location significantly contributes to the business's foot traffic and brand recognition. Importantly, the sale includes the entire inventory, providing an immediate asset base for continued operations.

The current owner, now looking to retire, leaves behind a business ripe with opportunities for further expansion. Potential growth strategies include enhanced marketing efforts and scaling operations to tap into new markets.

In conclusion, the business represents a unique investment opportunity. Its long-standing history, robust financial health, prime location, and growth potential make it an attractive proposition for prospective buyers. As the current owner steps back, the stage is set for a new chapter in the storied legacy of this iconic business.