Business Overview

MOTIVATED SELLER: For over 40 years, this company has been a staple in the custom lighting and specialty hardware field and the owner is ready to retire. They cater to two separate industries; the first is custom lighting where they manufacture light fixtures (interior and exterior) to customers’ specifications as well as repair/restore antique lighting. The second is specialty decorative hardware including cabinet, kitchen, bath, and door hardware. Their reputation for personalized service for period finish and function to their customers’ exacting needs sets them apart from the competition.

This company can easily be brought back to the million-dollar+ annual sales it used to enjoy as consumers are looking for alternatives to the big box stores, hardware chains, and lumber businesses. They serve both residential and commercial clients.

Perfect for a couple looking to settle in one of the most beautiful areas in the state, or seeking a change from the hectic corporate life, the current owner is willing to stay on at a negotiable fee (can be deducted from the sale price) to impart his wisdom from years of experience in the manufacturing of the light fixtures to ensure a smooth transition. Contact Dirigo Business Group of Maine today to learn more about this opportunity.

COVID-19 UPDATE: This business is continuing to operate and generate revenue. Orders, both wholesale and retail continue to be placed assuring the viability of the company.

Financial

  • Asking Price: $115,000
  • Cash Flow: $48,000
  • Gross Revenue: $189,000
  • EBITDA: N/A
  • FF&E: $10,000
  • Inventory: $50,000
  • Inventory Included: Yes
  • Established: 1979

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:1,000
  • Lot Size:N/A
  • Total Number of Employees:1
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

Seller is willing to stay to get new owner comfortable. Will be available via FaceTime or Skype after that.

Purpose For Selling:

Retirement

Pros and Cons:

Big box stores can't offer the level of service this store provides.

Opportunities and Growth:

Online sales through sites like Etsy, etc. haven't been utilized enough. A web-savvy owner can tap into a whole new market.

Additional Info

The company was founded in 1979, making the business 43 years old.
The deal shall include inventory valued at $50,000, which is included in the listing price.

The business has 1 employees and is located in a building with disclosed square footage of 1,000 sq ft.
The building is leased by the company for $2,500 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons individuals resolve to sell companies. However, the true reason vs the one they tell you may be 2 totally different things. For instance, they may state "I have too many other commitments" or "I am retiring". For numerous sellers, these factors are valid. But, for some, these may just be justifications to attempt to conceal the reality of transforming demographics, increased competitors, current decrease in incomes, or a range of other reasons. This is why it is very important that you not rely totally on a seller's word, but rather, use the vendor's response together with your overall due diligence. This will repaint a much more practical image of the business's existing situation.

Existing Debts and Future Obligations

If the current company is in debt, which numerous businesses are, then you will have reason to consider this when valuating/preparing your offer. Lots of businesses finance loans so as to cover items like stock, payroll, accounts payable, and so on. Bear in mind that sometimes this can indicate that profit margins are too thin. Lots of companies fall into a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may additionally be future commitments to consider. There might be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with suppliers that have to be satisfied or might cause charges if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do businesses in the location bring in new clients? Most times, companies have repeat consumers, which create the core of their day-to-day revenues. Particular elements such as brand-new competitors sprouting up around the location, roadway building and construction, and also staff turn over can impact repeat consumers as well as adversely influence future revenues. One essential thing to take into consideration is the location of the business. Is it in a very trafficked shopping center, or is it hidden from the highway? Certainly, the more people that see the business on a regular basis, the better the opportunity to build a returning client base. A last idea is the basic location demographics. Is the business placed in a densely inhabited city, or is it situated on the edge of town? Exactly how might the local median household earnings effect future income potential?