Profitable furniture store - $298K owner incentive !
Onondaga County, NY
Sale Pending
| Asking Price: | $174,000 |
| Gross Revenue: | $640,000 |
| Rent: | $5,333/Month |
| FF&E: | $52,000 |
| Cash Flow: | $67,000 |
| Inventory: | $358,000 |
| EBITDA: | $54,000 |
| Established Year: | 1974 |
Listing ID: 2143803Listing provided by BizBuySell
BUSINESS DESCRIPTION
An outstanding location and brand lifts this contemporary furniture business above its competition. The business imports and retails contemporary and Scandinavian furniture and furnishings from Scandinavia, Europe and Southeast Asia. They also source from the US, Canada and Mexico and operate in a 10,900 square foot building located at a high traffic location in a popular suburb of Syracuse NY. This retailer also carries lines of high-quality mattresses, lamps, rugs, works of art and gift ware.
DETAILED INFORMATION
Location
Relocatable
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
10,937
Employees
3
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
The building is owned by the seller and located in a high traffic commercial location with multiple national chain stores and restaurants nearby. It is a 10,937 square foot two-story with an open balcony. The layout and decor of the showroom is outstanding - providing customers with a warm feel that displays the unique high-end furniture and furnishings. There is ample office and warehouse space as well.
Competition
The local market is robust, and the expected influx of well-paying jobs and growth provided with the expected expenditure of $100 Billion dollars from the Micron Technology plant, one of three plants which is under construction. Local news has reported that over 40,000 people will be employed by this huge microchip plant, plus an additional 9,000 jobs from ancillary suppliers which will fuel growth in the area for many years.
Growth & Expansion
With the nearby $100B Micron Plant building, employment growth will drive more well-paying customers moving into the area that require furniture and furnishings. In addition, the company has recently changed to using Shopify for its website and has noticed an increase in inquiries and sales from across the US and Canada. The company carries many unique brands, some of which the business is a preferred dealer. A new owner with business and marketing skills will naturally generate growth.
Financing
The seller is willing to provide some financing for a qualified buyer.
Support & Training
The owner will be happy to spend as much time as needed to make the new owner proficient and comfortable with their new business. The owner will also introduce the new owner to their valued suppliers and explain how his over 25-year successful tenure was achieved and how he thinks it can be grown.
Reason for Selling
The owner is selling the business to have more time with family and to travel.
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