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Fantastic Oppty. Boutique in Morrisville/Cary Market

Fantastic Oppty. Boutique in Morrisville/Cary Market

Property for Lease

3031 Village Market Place Morrisville, NC 27560

Name of Business: Scout & Molly’s Boutique
Price: $ 49,995
Space Size: 1,570 SF
Monthly Rent: $ 3,600
Property Type: Retail

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Description:

FANTASTIC SMALL BOUTIQUE– OPPORTUNITY

(From Seller):

SCOUT & MOLLY’S BOUTIQUE BEGAN WITH A DREAM

Original founder Lisa Kornstein originated Scout and Molly’s Boutique from a dream. A place where women would feel comfortable shopping, a place where they didn’t have to worry about what they were wearing when they walked in the store, a place where women could count on a friendly face and an honest opinion.

With equipped stylists at every Scout & Molly’s store, we choose from a variety of styles and silhouettes to help our customer feel beautiful in her clothing. We are proud to carry the latest and best designer brands. These include names such as AG Jeans, Spiritual Gangster, Bernardo, Tees by Tina, Good Hyouman, David Lerner, Olive + Oak, and BLANKNYC, to name a few. Our diversity of brands enriches the experience of our customers by having a plethora of styles to choose from. This is in addition to the helpful expertise of our stylists to guide them in the right direction. Our stylists believe and practice always treating people with respect, kindness, and honesty.

ABOUT THE DEVELOPER/OWNER

Hans H. Huang assisted Lisa develop the original franchise system and concept almost 10 years after Lisa opened her first store. With the goal of opening stores at a manageable pace, Hans and Lisa began offering franchises. However, shortly after this venture began, a franchise development company bought the concept and the franchisor rights. As part of the sale, Hans H. Huang with one of the first key employees, Kelsey Stepp, began operating a store in Cary with the goal of moving the store to Park West Village and opening several more.

Before implementing the plan, Hans moved to Florida to assist with another company as its Chief Legal Officer but negotiated a lease with Park West. However, Park West, like many newly developed shopping centers, has some branding and construction issues. Indeed, the apartments built above the store required additional work which has resulted in blocking the store with scaffolding. Hans and Kelsey believe that once the scaffolding is removed, Park West will be revitalized and will see an increase in business.
Unfortunately, Kelsey (newly married) is not interested in opening multiple locations or is not interested

in the development plan to expand and has, for some time, wanted to work as an employee and not as an owner-operator. In other words, there has been a lack of ownership engaged in community and business development efforts which is the cornerstone of the concepts success. Hans is not able to oversee the store from Florida and has asked Bill Boyd to look at alternative methods to reduce his participation.

Option 1
Full transfer of all rights including favorable franchise terms for the existing store and future store (franchise fees waived). This option can include the possibility of partnering with Hans but he can not be actively engaged in the store.

Option 2
Sale of the store and concept (with lease and all improvements) only.

Option 3
Sale of the lease only. The upfits and the space provides for an opportunity for any concept.

Additional Information:

County: Wake
Lease End Date: March 1, 2023