Listing ID: 79368
Established 35 Years, This Marine Consignment and Upholstery business is well known in the community for offering all types of Marine products at a fraction of the cost for new. They are located near the water and all the boat dealers and repair shops recommend them. With over 3500 sq ft of floor space, they have 60 consignors and $20k of their merchandise. They also offer a full Marine Upholstery service where they repair and replace, seats and canvas tops, and all other Marine applications. They have 2 full-time employees that handle all the service work and the seller is absent due to health issues. With Seller Financing available, Don’t Miss This Opportunity! Please refer to listing 7301520091, Business Broker John DeVries 772 260-7647 when you inquire about this listing.
- Asking Price: $75,000
- Cash Flow: $50,000
- Gross Revenue: $175,000
- EBITDA: N/A
- FF&E: $20,000
- Inventory: $20,000
- Inventory Included: Yes
- Established: 1985
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,500
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
Loan/Seller - Amt: 30,000 Mos: 60 Rate: 6.00 Mo Pmt: 579.98
1 week training at no cost
Non Compete : Miles: 10 Years: 2
The company was founded in 1985, making the business 37 years old.
The deal shall include inventory valued at $20,000, which is included in the requested price.
The company has 3 employees and is situated in a building with approx. square footage of 3,500 sq ft.
The property is leased by the business for $2,200 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons why people resolve to sell companies. Nevertheless, the genuine reason and the one they say to you might be 2 entirely different things. For instance, they may state "I have too many various obligations" or "I am retiring". For numerous sellers, these factors are valid. But, for some, these may just be reasons to try to conceal the reality of transforming demographics, increased competitors, recent reduction in earnings, or a range of various other factors. This is why it is extremely crucial that you not rely entirely on a vendor's word, yet rather, utilize the vendor's response in conjunction with your overall due diligence. This will paint an extra realistic image of the business's current scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Lots of businesses borrow money in order to cover items like supplies, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can indicate that profit margins are too small. Numerous businesses fall 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 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 lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the location bring in brand-new clients? Most times, companies have repeat customers, which develop the core of their everyday earnings. Particular variables such as brand-new competitors sprouting up around the area, roadway building and construction, and also employee turn over can impact repeat consumers as well as negatively affect future revenues. One essential point to think about is the location of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Obviously, the more people that see the business on a regular basis, the better the possibility to construct a returning consumer base. A last idea is the basic area demographics. Is the business situated in a densely inhabited city, or is it situated on the outskirts of town? How might the neighborhood mean family earnings effect future revenue prospects?