Business Overview

This full-service kitchen and bath design company servicing Central Maine and the Midcoast, could be located anywhere within the large area they serve. Stable company with solid profits even during the height of the pandemic. Strong growth potential (currently not actively marketing as most business comes from referrals), excellent customer base, strong relationships with high quality vendors and top-notch installers. Best known for their meticulous high end but budget conscious designs and white glove customer service. The call for their services is high with the recent boom in construction in Maine and the demand for home make overs with so many people home these days. Owner/Designer willing to stay on for a short or longer period of time to do design work, prefers the creative work to the day-to-day business management. Could be an ideal situation for a savvy business owner who wants to focus on running and growing the business while employing the former owner/designer to do all of the design work and maintain all of the existing partnerships that are working so well. This is a great opportunity for an experienced designer who seeks the quality of life that Maine has to offer.

Financial

  • Asking Price: $156,000
  • Cash Flow: N/A
  • Gross Revenue: N/A
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 2016

Detailed Information

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

12 weeks

Purpose For Selling:

Owner Loves Design Not Business Ownership

Additional Info

The venture was started in 2016, making the business 6 years old.

Why is the Current Owner Selling The Business?

There are all sorts of reasons why individuals resolve to sell businesses. Nonetheless, the true factor vs the one they tell you may be 2 totally different things. As an example, they may state "I have too many various responsibilities" or "I am retiring". For many sellers, these factors stand. However, for some, these may just be excuses to attempt to conceal the reality of changing demographics, increased competitors, recent reduction in incomes, or a variety of various other factors. This is why it is extremely essential that you not depend totally on a vendor's word, yet rather, use the seller's response together with your total due diligence. This will paint a much more sensible image of the business's present scenario.

Existing Debts and Future Obligations

If the existing business is in debt, which numerous companies are, then you will have reason to consider this when valuating/preparing your deal. Lots of businesses borrow money with the purpose of covering points such as inventory, payroll, accounts payable, and so on. Bear in mind that occasionally this can mean that revenue margins are too small. Many organisations come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future obligations to think about. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with suppliers that must be met or may result in charges if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do companies in the area draw in new clients? Many times, companies have repeat clients, which develop the core of their everyday profits. Certain elements such as new competition growing up around the area, road construction, and personnel turnover can impact repeat customers as well as adversely influence future incomes. One vital thing to consider is the location of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Undoubtedly, the more people that see the business on a regular basis, the better the possibility to construct a returning client base. A last idea is the basic location demographics. Is the business situated in a densely populated city, or is it situated on the edge of town? Exactly how might the neighborhood typical home income effect future revenue potential?