Have you ever thought about owning your own fashion store? Now is your chance to own Scottsdale Jean Company. This hip fashion store was voted the Best Place to Purchase Jeans in 2014′s Best of Our Valley competition. After nine years of owning this established company, Steven Koeppel has chosen to sell the store for the very reasonable price of $299,000 plus the inventory, which at present is approximately $180,000. Steven hopes to find somebody who loves Scottsdale Jean Company as much as he does.
AZ Foothills got the chance to chat with Steven about his future plans and his company. Read the interview below to find out more about this bargain, information on prices and what owning the company will entail.
AFM- What people can expect from the business?
Scottsdale Jean Company is the premier retailer of designer jeans and clothing for men and women in Arizona and one of the top independent retailers in the entire country. SJC maintains an outstanding reputation within our industry and we are constantly sought after by brands interested in being represented at SJC. We’re able to leverage this with our brands by obtaining very favorable credit terms and some special (and unique) arrangements, including the many trunk shows we host.
AFM- Why are you selling?
I’ve thought about this more than anyone could possibly imagine and it was not an easy decision to arrive at. I have been presented with some tremendous opportunities over the past couple of years, from both within the automotive industry where I previously spent fifteen years owning and operating a chain of new car dealerships in the NY metro area, and also in other industries where my experience and expertise could be very beneficial. I have passed on everything that’s been put in front of me, some of which have really taken off. I find myself thinking more and more about the potential opportunities and feel the time is right for me to move on after nine amazing years at SJC.
AFM- What makes your business unique?
Our selection and service are certainly the most unique characteristics. In addition to the fifty plus brands represented, we have tens of thousands of customers, many of whom visit with us frequently. Our website is another big selling point and there is tremendous upside for someone with experience there. Our website is setup so it updates our inventory hourly keeping the online inventory always current. We’ve also just made a deal with Amazon to offer our products on their site and we’re making the necessary changes so we can be selling there very soon. SJC is a very well run turn key operation that someone can literally step into and learn as they go. Everything is in place and someone would be free to bring in new brands or categories or to make any changes they see fit.
SJC is the exclusive independent retailer of Kiehl’s skin care products in Arizona. It took over nine months to originally convince Kiehl’s to let us represent the line and it’s been tremendous for us. We’re an authorized retailer of UGG and J&M Footwear, both of which do very well for us. We’re also the top independent retailer of Saxx mens underwear in the entire country.
AFM- What is your plan for the future?
This is the question I am asked most often. The truth is I have absolutely no idea exactly what I plan to do. I can’t commit my time, energy or resources to anything while I am still committed to SJC, so I have promised myself I would wait until a sale was consummated for me to pursue anything. It’s really not in my nature to not have a plan so this is all new to me. I have priced SJC very reasonably to facilitate a quick sale.
AFM- How would you compare your price to other asking prices for businesses for sale?
It would cost in excess of $450,000 for anyone to reproduce the buildout, furniture, fixtures, equipment, computers and systems, etc., excluding any inventory. And, it’s difficult to put a value on the tens of thousands of customers, our outstanding vendor relationships and goodwill we’ve built up over the last 9 years. I have priced the business very well considering all of this, certainly well less than it’s actually worth.
AFM- Will you be assisting the next owner in the starting up process?
I do anticipate assisting the new owner for a period of time, if the new owner wants me. SJC has been my baby since day one and I wish the new owner nothing but continued success. I’m happy to assist in any way possible, including accompanying them on buying trips for new merchandise. Beyond that, I am always just a phone call away.
If you’re interested in the possibility of owning Scottsdale Jean Company, call 480-905-9300 or email StevenK@scottsdalejc.com.