New Listing: Locally Owned Furniture Retail

Dec 29, 2023 8:43 pm

From the Desk of Josh Grode Wolters, MBA:

I promise every update won't be about a new listing, but Q4 has been busy around here! This time around we've got a locally owned furniture store with nearly a century of history! Read below and reply to this message if you'd like more info.

Please note: If you've inquired about the listings mentioned in the last month, I appreciate your patience if I haven't responded to you yet. Our 'automated' system wasn't working as intended. Rest assured, I'm working through all the responses one-by-one, and will get it sorted out in the next week!

I hope 2023 has treated you well and 2024 will be better yet. See you next year!

More Information, Please!

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

More Information, Please!

As always, I'm looking forward to hearing from you soon!

Happy Friday,

Josh

JOSH GRODE WOLTERS, MBA

Business Intermediary