Tiffin, Ohio — Tiffin-Seneca Economic Partnership (TSEP) announced Wednesday that a long-standing successful and local Tiffin retail business is available for sale.
The owner would like to retire and is looking for someone new to take over.
Detailed information about this opportunity codenamed “Project Starlight” can be found on TSEP’s “Entrepreneurial Opportunity Clearinghouse” at tseoc.org. The opportunity will remain open until a new owner and manager is found.
The business owner wishes to remain anonymous at this time. The business for sale is a successful, profitable retail business within the city of Tiffin that has been in operation for multiple generations.
The owner is looking to sell all components of the businesses including inventory, equipment, and information for $250,000. The owner is also looking to sell the property, which is located in one of Tifffin’s most highly trafficked commercial districts, for $300,000.
The property includes a third of an acre, a 3,700 square foot building, and an 8,000 square foot parking lot. The current annual profit from the business is $110,000.
The owner is ready to retire but would love to see the business continue, so they are also willing to provide some transitional mentoring and training to assist an entrepreneur who may be looking to learn on the job.
Tiffin Mayor Aaron Montz is hopeful a new owner can be found.
“We experienced success with finding the right person to manage Bird Scooters through the Entrepreneurial Opportunity Clearinghouse,” Montz said. “I hope the same thing happens with this Tiffin business which has such deep roots in our community. We don’t want to lose it when the owner retires.”
Eligible parties may include people wanting to run and/or own the business, but don’t have to be both. The Tiffin-Seneca Entrepreneurial Opportunity Clearinghouse (TSEOC), launched in April of 2021, is a new program designed to facilitate the flow of entrepreneurial talent and capital to new business start-up, franchise, and business acquisition opportunities.
There may be investors that do not want to run the business but would be willing to invest if a competent entrepreneur and business manager could be found. Interested parties should contact TSEP Development Manager Audrey Flood by email at firstname.lastname@example.org or by cell at 419-561-0244.
Bryce Riggs, Executive Director of the Seneca Regional Chamber of Commerce and Visitor Services and chair of TSEP’s Tiffin-Seneca Entrepreneurship Committee, supports the initiative.
“One of our member businesses came to us looking for resources related to legacy planning and transition,” Riggs said. “I knew they would be a perfect candidate to utilize TSEP’s new Entrepreneurial Opportunity Clearinghouse and was happy to connect them.”
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