Listing ID: 71351
50-Year-Old Hardware and Lumber Business – PRICE INCLUDES PROPERTY.
A very rare opportunity to take over one of the longest-running and most profitable hardware and lumber operations in Norther Connecticut. Exceptional growth opportunities and ASK PRICE INCLUDES massive commercial property, equipment, FFE, inventory and EVERYTHING else you need to start making money in this turn key business.
Centrally located retail hardware and lumber business, family owned since 1967.
* Repeat, loyal, well-established customer base/client business relationships.
* Onsite glass cutting, window and screen repair, chain saw sharpening, chain and rope services, key cutting, paint color match computer service, and material deliveries available.
* Asking price includes PRIME COMMERCIAL REAL ESTATE.
Click the “Contact” button NOW to request an NDA and receive the full offering memorandum for more info.
- Asking Price: $1,380,000
- Cash Flow: N/A
- Gross Revenue: $1,000,000
- EBITDA: $250,000
- FF&E: $80,000
- Inventory: $250,000
- Inventory Included: Yes
- Established: 1967
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:6,400
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
* Centrally located near Main St and downtown Putnam shopping area * Only Lumber business in Putnam * 1.28 acres of flat commercial real estate and 6400 SF retail space * Turnkey - all office equipment, retail shelving and displays, delivery trucks and forklift included * Ample off-street parking * New Front entry facade
Owner will stay on for up to 6 months to assist with transition and will be available afterwards via phone.
* Only lumber company in town * Located in downtown area of shopping district * Closest competition: Lowes - 12 miles away; Home Depot - 17 miles away; Aubuchons Hardware - 1 mile away. * Tremendous value in the property itself due to the proximity to downtown and shopping
* Expand building material inventory to improve contractor business * Extend product(hardware) ship to store option * Advertise and participate in True Value promotions and sales * Attend True value’s biannual sales conventions to take advantage of current trends and opportunities * Provide top notch customer service, treating customers as family * Expand product lines- Landscaping supplies/garden center/contractor partnerships * Enhance and computerize inventory management system to improve cash flow
The business was founded in 1967, making the business 55 years old.
The sale shall include inventory valued at $250,000, which is included in the listing price.
The company has 4 employees and resides in a building with disclosed square footage of 6,400 sq ft.
Why is the Current Owner Selling The Business?
There are all types of reasons people choose to sell companies. Nonetheless, the genuine reason vs the one they say to you might be 2 absolutely different things. For instance, they might claim "I have a lot of other obligations" or "I am retiring". For numerous sellers, these factors are valid. But also, for some, these may simply be reasons to attempt to hide the reality of changing demographics, increased competition, recent decrease in profits, or a variety of other factors. This is why it is really crucial that you not depend absolutely on a vendor's word, yet instead, utilize the seller's answer along with your total due diligence. This will repaint an extra sensible picture of the business's current situation.
Existing Debts and Future Obligations
If the current company is in debt, which lots of businesses are, then you will need to consider this when valuating/preparing your deal. Numerous businesses borrow money so as to cover items such as stock, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can indicate that profit margins are too small. Lots of organisations come under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may likewise be future obligations to think about. There may be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with suppliers that must be fulfilled or might cause penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the area attract brand-new consumers? Many times, businesses have repeat clients, which create the core of their daily revenues. Certain factors such as new competitors growing up around the area, road building and construction, as well as personnel turnover can affect repeat customers and adversely affect future incomes. One essential thing to take into consideration is the location of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Undoubtedly, the more people that see the business regularly, the better the possibility to develop a returning client base. A final idea is the general location demographics. Is the business located in a largely populated city, or is it situated on the outside border of town? Exactly how might the neighborhood mean household income effect future income potential?