Listing ID: 79229
SBA Prequalified, This specialty furniture store has been operating for over 20-years on Federal Highway in Boca Raton, to which the owner is planning to retire. Revenue and Profits have been extremely consistent over the years as this is one of the only stores of its kind in South Florida. Perfect books and records with a little added bonus, ideal for an individual relocating to the area or with an immigration need. Inventory consists of a fully modern showroom of items constantly being turned over. Seller is offering a 1-month transition period and possible consulting thereafter. No special licenses or skills needed, just good friendly sense! Please refer to listing number 0101289361, business broker Tom Milana 5617026867 when inquiring about this listing.
- Asking Price: $499,000
- Cash Flow: $336,675
- Gross Revenue: $833,064
- EBITDA: N/A
- FF&E: $15,000
- Inventory: $85,000
- Inventory Included: Yes
- Established: 2000
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,500
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
Lease/Month: 2909.09 Square Footage: 1,500 Building Type: Strip Center Terms & Options: 1 five year option avail. Expiration Date: 9/1/2025 Loan/Other - Amt: 447,280 Mos: 120 Rate: 6.00 Mo Pmt: 4,965.73
Weeks Training: 4 Cost: $0
Non Compete : Miles: 100 Years: 4
The company was founded in 2000, making the business 22 years old.
The transaction does include inventory valued at $85,000, which is included in the suggested price.
The company has 1 employees and resides in a building with disclosed square footage of 1,500 sq ft.
The real estate is leased by the company for $2,909 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals decide to sell operating businesses. Nonetheless, the real reason vs the one they tell you might be 2 completely different things. As an example, they might say "I have way too many other commitments" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these might just be reasons to try to hide the reality of altering demographics, increased competitors, current reduction in profits, or a range of other reasons. This is why it is really vital that you not depend totally on a vendor's word, yet instead, utilize the vendor's answer along with your general due diligence. This will repaint a more realistic image of the business's present circumstance.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of businesses are, then you will certainly need to consider this when valuating/preparing your offer. Lots of companies borrow money with the purpose of covering things like stock, payroll, accounts payable, so on and so forth. Keep in mind that sometimes this can suggest that profit margins are too tight. Lots of businesses fall into a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future obligations to think about. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with vendors that must be satisfied or might result in penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the area attract brand-new customers? Most times, operating businesses have repeat clients, which develop the core of their everyday earnings. Particular variables such as new competition sprouting up around the location, road building and construction, and also employee turn over can impact repeat customers as well as adversely influence future earnings. One vital point to consider is the placement of the business. Is it in a highly trafficked shopping center, or is it hidden from the highway? Undoubtedly, the more people that see the business often, the greater the opportunity to construct a returning consumer base. A final idea is the basic location demographics. Is the business placed in a densely inhabited city, or is it situated on the outskirts of town? Exactly how might the neighborhood mean family earnings effect future earnings prospects?