North Country Quilters & Sew 'n Vac

Grafton County, NH

Seller Financing Available

Asking Price:	$125,000
Gross Revenue:	$397,523
Rent:	$3,000/Month
FF&E:	$50,790

Cash Flow:	$67,829
Inventory:	$153,000
EBITDA:	$66,382
Established Year:	1983

Listing ID: 2016676Listing provided by BizBuySell

BUSINESS DESCRIPTION

Located in Rumney, New Hampshire, this business was started in 1983 and purchased by the current owners in 2013. Upon purchasing the business while keeping it housed in the same building, the husband-and-wife ownership/management team doubled the rental space from 1500 to 3000 square feet. At that time, they also expanded their business to include sewing machine and vacuum cleaner sales and service. They purchased the current location and moved the shop to the 3500 square feet that they now occupy, which includes a large classroom for quilting and sewing classes. At the time of the move, they once again expanded their business to include quilting machine sales and service. In 2020, they developed a web store for online sales.
The market mix for the business is 60% Fabrics, Notions, Accessories, Classes; 36% Sewing Machines, Vacuum Cleaners, accessories, and parts; and 4% Service and Repairs.
Competition is limited and not close geographically, and the three similar businesses which could be considered competition only compete in certain parts of the business mix, but not all.
The business is buoyed by its loyal, local customer base, which comes from within a 2-hour drive time radius. Many customers are also second homeowners and visitors to the area.

DETAILED INFORMATION

Location

Grafton County, NH

Inventory

Not Included in asking price

Real Estate

Leased

Building SF

3,500

Employees

Furnitures, Fixture & Equipment(FF&E)

Included in Asking Price

Facilities

This business is located in central New Hampshire on a main road connecting many communities in the area. This location is easily accessible from Interstate 93. The location is rural, but very visible along a relatively busy scenic roadway. Ample parking is available. The building in which the business is housed is in good to very good shape. All furniture, fixtures, and equipment are in good to excellent shape. The space itself is clean, well maintained, comfortable, and appealing to customers.

Competition

The strength of the quilting, sewing machine and vacuum cleaner sales and service segments of the business are predicated on the high quality of the product lines carried and the superior sales knowledge, service, and training offered. There are three other businesses who directly compete with this business, the nearest of which is 20 miles away and the furthest over 60 miles away. All of them compete in some level of service and product offerings but none of them compete in all aspects of what North Country does.

Growth & Expansion

The sellers believe that the business could be expanded by bringing in other types of fabrics for home décor and garment. Also, adding yarn and knitting supplies would open up an expanded customer base. An increased web and social media presence is also needed, as is the capability to do much more with online sales. Offer virtual classes in addition to the existing in-person classes. Bring in new product lines of Long Arm Quilting Machines such as Gammill and Innova, offering both sales and service. Also, increase product offerings.

Financing

Sellers may consider minimal owner financing to qualified buyers, if necessary.

Support & Training

The current owner is willing to stay on and train for two weeks after the transfer of the business at no charge and will be available on a consulting basis beyond the two weeks for a designated, negotiated term as needed by the buyer. Seller is willing to sign a non-compete agreement for 5 years and 50 miles.

Reason for Selling

The owners are looking to retire and spend more time pursuing non-work-related i

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