We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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Shop owner Pat Talley announced Wednesday that, after 31 years in business, she was ready to sell.
“It’s been a wonderful run, particularly thanks to my wonderful clientele, but I’m ready to spend more time with my grandchildren,” she said. “The people of Fort Collins have been so supportive of everything we do that it will be hard to say goodbye, but it’s the right time to make this change.”
Talley, 69, opened the Toy Dungeon in 1981 at 133 S. College Ave. The store’s small costume section soon outgrew its niche so, in 1986, Talley expanded next door with the Life of the Party.
“The Toy Dungeon carried kid’s costumes and we had people ask for adult inventory, so we just got into it,” Talley said. “We just went with the flow of what people wanted.”
Life of the Party eventually overtook the Toy Dungeon in sales, so Talley closed her original store and focused on dressing up her fans.
“I started off with costumes, masks, makeup and such, but we also had things people couldn’t find anywhere else, like magic tricks, which appealed to both young and old.”
After 25 years in her original location, Talley downsized and moved to 119 and 121 E. Mountain Ave. The lease on the property ends in May but Talley said her landlord is hoping the next owner will remain in the location.
Life of the Party’s gross sales averaged $380,000 over the past three years and has $95,000 in inventory on hand.
“We’ve got a wonderful clientele who depend on us as the only such store in town,” Talley said. “The location can’t be beat and it’s just a fun way to make a living. I’m sure someone will find it irresistible.”