Listing ID: 79493
Established 7 Years! Don’t Miss This Opportunity to own an established Furniture Store with over $140k in active “Rent To Own” contracts generating over $10k per month of income. Located on US Hwy 1 with great visibility in a busy plaza, this furniture store has a 3k sq ft showroom with $50k of inventory at the sellers cost included in the purchase price. They are well known in the community for offering great furniture options at an affordable price. This business offers a well needed service for those customers that may need special financing options or furniture for staging that home temporarily. There are many ways to grow this business and the seller is willing to teach a buyer the creative ways to generate big profits in this Niche Business. Please refer to listing 7301-253190, Business Broker John Devries 772 260-7647 when you inquire about this listing.
- Asking Price: $115,000
- Cash Flow: $42,033
- Gross Revenue: $151,273
- EBITDA: N/A
- FF&E: $25,000
- Inventory: $50,000
- Inventory Included: Yes
- Established: 2014
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:4,000
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
Lease/Month: 3,800 Square Footage: 4,000 Building Type: PLAZA Terms & Options: NEGOTIABLE Expiration Date: 11/1/2021
2 weeks training at no cost
Non Compete : Miles: 20 Years: 2
The venture was started in 2014, making the business 8 years old.
The transaction does include inventory valued at $50,000, which is included in the suggested price.
The business has 1 employees and resides in a building with disclosed square footage of 4,000 sq ft.
The property is leased by the business for $3,800 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals resolve to sell companies. Nonetheless, the true factor and the one they tell you might be 2 completely different things. For instance, they may say "I have too many various commitments" or "I am retiring". For lots of sellers, these factors are valid. But, for some, these may just be excuses to attempt to hide the reality of transforming demographics, increased competitors, recent decrease in revenues, or a range of various other factors. This is why it is extremely essential that you not count totally on a seller's word, but instead, utilize the vendor's response along with your overall due diligence. This will repaint a more practical image of the business's current circumstance.
Existing Debts and Future Obligations
If the existing business is in debt, which many companies are, then you will need to consider this when valuating/preparing your offer. Lots of businesses take out loans with the purpose of covering things like inventory, payroll, accounts payable, and so on. Bear in mind that sometimes this can mean that profit margins are too small. Many organisations fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future obligations to take into consideration. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with suppliers that have to be met or may result in charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the location bring in new consumers? Many times, businesses have repeat customers, which form the core of their daily earnings. Specific variables such as brand-new competition growing up around the location, roadway building, and staff turnover can impact repeat customers and adversely influence future profits. One vital point to consider is the placement of the business. Is it in a very trafficked shopping center, or is it hidden from the main road? Obviously, the more people that see the business often, the better the chance to develop a returning consumer base. A last thought is the basic location demographics. Is the business located in a largely populated city, or is it situated on the edge of town? How might the neighborhood average household income influence future earnings prospects?