Listing ID: 81041
Sales were up 85% in 2021 over 2020. Owner’s P&L shows $818,133 revenues and $246,045 net income to the owners. SBA pre-approval for qualified buyer acquisition financing. This well-established, low-risk business is experiencing skyrocketing sales growth. The company fabricates upholstered custom furnishings for a variety of customers including interior designers, casinos, private homes, and commercial clients. Well-staffed with skilled employees. Large market for their home furnishing products and services. Because they are a primary manufacturer they can compete with almost anyone’s prices and still enjoy good profit margins. This business has very detailed financial records which will make the buyer’s due diligence easy. All sales easily verifiable. There is a strong demographic ‘tailwind’ going forward for this industry as millennials enter the home-owning population. Almost no direct competition in Las Vegas. Also sells into California. Customers include interior designers, large casinos, homeowners, and home builders. The business occupies a lucrative niche by building custom upholstered furniture, window coverings and related products. Several revenue streams. Fully staffed including office/sales admin. Sellers have a new family and need to downsize. Will stay on part-time for business development if needed. Las Vegas is continuing to Grow into 2022 with the recent opening of Circa Resort, Virgin Hotels, Allegiant Stadium, Resorts World, the Convention Center Expansion and the continued construction on the MSG Sphere Entertainment Venue & the Fontainebleau resort. Contact Michael Cash, Benchmark Business Advisors, 702-281-4751, www.bbanv.com
- Asking Price: $550,000
- Cash Flow: $246,045
- Gross Revenue: $818,133
- EBITDA: N/A
- FF&E: $10,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2014
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,400
- Lot Size:N/A
- Total Number of Employees:7
- Furniture, Fixtures and Equipment:N/A
3400 sq. ft. office/showroom and manufacturing.
Sellers will fully train buyer and even remain as employees.
Very little competition in Las Vegas
Add additional sales/business development staff
The venture was established in 2014, making the business 8 years old.
The business has 7 employees and is situated in a building with estimated square footage of 3,400 sq ft.
The property is leased by the business for $2,900 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people decide to sell businesses. However, the real reason vs the one they say to you may be 2 entirely different things. For instance, they might claim "I have a lot of various commitments" or "I am retiring". For numerous sellers, these reasons stand. However, for some, these may simply be excuses to try to conceal the reality of altering demographics, increased competition, current reduction in earnings, or a variety of various other reasons. This is why it is really important that you not count absolutely on a seller's word, however rather, make use of the vendor's response combined with your general due diligence. This will paint a much more practical image of the business's present scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous companies are, then you will certainly need to consider this when valuating/preparing your offer. Many businesses borrow money so as to cover items like supplies, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can mean that profit margins are too tight. Lots of companies come under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may also be future obligations to think about. There may be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with vendors that must be met or may lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the area draw in new customers? Most times, operating businesses have repeat clients, which form the core of their daily revenues. Specific elements such as new competitors growing up around the area, roadway building and construction, and also personnel turnover can impact repeat clients and adversely influence future revenues. One important point to think about is the area of the business. Is it in an extremely trafficked shopping center, or is it hidden from the main road? Obviously, the more individuals that see the business on a regular basis, the greater the possibility to construct a returning client base. A final idea is the basic area demographics. Is the business situated in a largely populated city, or is it located on the outskirts of town? How might the local mean family earnings effect future income potential?