Last Chance: Locally Owned Furniture Retail
Apr 12, 2024 7:45 pm
From the Desk of Josh Grode Wolters, MBA:
April brings us one more opportunity for this furniture store before the listing is pulled. There are times when it makes sense to remove a listing before a business is sold. Sometimes, the owners decide they'd like to keep growing the business instead of selling. Other times, the business may need to work out some issues before being ready for a sale. And, there are times when a business owner decides it's not the right time for a sale. When any of these happen, we try to make one last push to get a business sold. So, here we are!
We call this a 'Furniture Store,' but in reality it's so much more! They have a nice selection of modern furniture, décor, and accent pieces. However, they also do a good business in appliances, flooring, beds, and service & repair. The business is located about an hour from Sioux Falls and has many regular customers that comes from a wide geographical area.
This business is priced right at just over $500,000 which includes $250,000 of inventory! Shoot me a message and let me know what you'd like to offer. This truly is the last chance!
Independent Furniture Retail
Asking Price:$ 530,000
Cash Flow:$ 134,635
Gross Revenue:$1,005,970
Inventory:$ 236,579 (Included)
FF&E:$ 95,500 (Included)
Employees: 3
This furniture store has been a staple in the community for decades. There are both long-time, loyal customers and new younger customers that appreciate the new, more modern look of the store. The store maintains a full stock of inventory with mostly current styles and models. The store retails furniture, appliances, and flooring.
The business currently offers design and consultation services for bedroom, living room, dining room and office areas. The store also offers delivery and installation.
Current owners are not able to dedicate the time this business needs. They are pulled by another, non-related business. An owner giving closer to 40 hour weeks--certainly no more!--will be able to grow the business through simple attention.
Facilities:
Located less than an hour from Sioux Falls! The facility has a total of 13,500 square feet of space, which includes 9,600 square feet of showroom with a small office and 3,900 square feet of warehouse space with a mezzanine on both sides for additional storage upstairs. A very large lot has plenty of room for expansion. There are a couple options available to a buyer for the real estate. The seller would prefer to lease, but would be open to half--or all--of the 4.35 acre lot being sold.
Competition:
Located less than an hour from Sioux Falls! Geographically, the location serves many small towns. There is no direct competition within 35 miles. Expanded hours and a modernized store have resulted in fewer big-box delivery trucks in the area.
Growth & Expansion:
Adding appliance repair would be a fast way to grow the store's annual revenues. A mechanically skilled employee could install and service appliances and upsell other products while in the home. Window coverings could be added to the product selection. Working with more construction contractors and/or multi-unit housing owners would open doors to additional flooring and appliance sales. New construction flooring and appliance customers regularly come back for furniture once the home is completed.
Support & Training:
Will train for up to two weeks at no cost.
Financing:
$53K down/$53K over 84 mos. @ 9%/Other Financing.
Reason for Selling:
Owners are shifting focus to unrelated business
As always, I'm looking forward to hearing from you soon!
Happy Friday,
Josh
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JOSH GRODE WOLTERS, MBA
Business Intermediary
