Description
We are selling our successful wholesale souvenir t-shirt business that has been operating for 28 years, so we can retire.
This is an excellent opportunity for someone who is interested in the retail industry and wants to take over a well-established business.
Our business has a proven track record of success and has significant growth potential.
- Long-established market-leading brand
- In business for 28 years (UEN 199500043N)
- Our own brand - you're in total control of your destiny
- Hot selling designs, fast moving inventory (not included, take over at cost, approx $30k)
- Existing blue chip customers (Mustafa /7-11/Cheers etc) ready for takeover
- $300-400k pa turnover with great potential for expansion
- Easy to manage, turnkey operation, immediate turnover
- Our current premises are in Ubi, and can be taken over with the consent of our landlord.
- Excellent reputation
- Owners retiring, but we will guide the new owner for 3 months
Worn all over the world, from the catwalks of Paris to the jungles of Borneo, the humble t-shirt must be one of the most popular “inventions” of the 20th Century. Almost everyone in the world must have at least one, and many of us put one on almost every day.
The souvenir t-shirt, with it’s “been there, done that” message, is now a firm favourite all over the globe. Whether you buy it for yourself, or as a gift for someone back home, it’s hardly surprising that by far the most popular purchase for the traveller visiting our country is not a merlion ashtray or a orchid pencil sharpener, but a Singapore t-shirt. Everybody likes them - they are light, easy to pack, and are a great reminder of a special place or experience. Not just for the tourists, many of our customers are Singaporeans who purchase them to present to their hosts, friends and business acquaintences whilst overseas.
When we first began operations in 1994, most of the existing souvenir t-shirts were tight-fitting, made from poor quality materials, with dated-looking designs that probably hadn’t changed since the ‘60s. Although dirt cheap, those t-shirts could hardly survive a couple of washes before they would end up as rags. We saw our opportunity to ‘build a better mousetrap’ - to create the kind of t-shirt that we ourselves would buy if we were on holiday. Our first range of t-shirts were launched under the twin brand names of “Tropical Tees” and “Make It Yours”. Within a matter of a few short months, we established our product in the duty free shops, major department stores, tourist attractions, gift shops, hotel shops and souvenir stores thoughout Singapore. Not only have we become the undisputed market leader in souvenir T-shirts, we established the product category as being the highest revenue spinner for the souvenir market.
Our evergreen designs are created in-house, we specify precise colors to complement each particular design, and we use 100% cotton for comfort and longevity.
Year after year, we enjoyed great success, until of course COVID19 came along. With department stores in lockdown and Changi Airport virtually closed, we put the business on hold for nearly 2 years, while we focussed on our other business, ("Vitadeals.Sg", our health supplements e-commerce business).
When Covid restrictions were lifted in April 2022, and the first tourists started to trickle in, we set about restocking. To our amazement, our first post-covid shipment sold out within 3 months, leaving us scrabbling to replenish. By the time the new shipment arrived, we had already missed out on the Xmas season. Nevertheless, we were pleased to have achieved $295k for the financial year ended March 2023, even though we could have done more if we had re-stocked in time.
It is a simple and straightforward operation and does not require a high headcount - just 1 or 2 people will suffice. We can guide the new owner in all the operating procedures, and assist with product ordering etc until they are comfortable and confident enough to fly solo. We would like to see our legacy continue to flourish under new ownership.
As both myself and my wife are in our mid 60's, we have decided it this would be a great time for us to retire. We have just completed the sale of our health supplement e-commerce business, and now we wish to wrap up the t-shirt business and pass on the reins to the next owner.
If you are looking for an easy to manage, proven business to take over, look no further! If you would like to know more, contact us to arrange a discussion at our office. Call Mick for more info on 98187218.
Singapore