|High End Audio Video Retailer - Installer|
LAListing DetailsOffice ID: HIFI1
Listing Broker: Jeff Snell, M&AMI, CBI, ABI
Listing Price: $275,000
Gross Revenue: $1,003,510
Cash Flow: $83,311
Inventory Included: Yes
FF&E Included: Yes
Down Payment: $60,000
Sale Price: $300,000
Real Estate Included: No
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:Seller will comply with standard SBA guidelines. Asking price DOES include sellable inventory and demo inventory valued at approximately $215,000. Selling price will be adjusted upward or downward based upon actual inventory as of the day of closing. Any net increase or decrease in recast net profit between LOI execution and closing will adjust closing price on a prorata basis.
Absentee Owner: Yes
Reason for Sale:Absentee owner desires to focus on other business opportunities.
Training:Current management will provide buyer with complete transition support and is available for long-ter
OperationsYear Established: 1997
Last Acquired: 2012
Form of Ownership: S Corp
Employees (full-time): 2
Employees (part-time): 3
Business Hours: 10-6 Monday-Saturday
Business Description:Retail business with high-end showroom sells, installs, configures, and provides warranty and non-warranty high-end consumer and commercial audio and video equipment. Many product lines are exclusive with high margins, high customer loyalty and protected territories.
Historical Summary:This company has built a solid reputation selling higher end electronics such as McIntosh, Runco, B&W, Martin Logan, Pioneer Elite, to name a few. ~80% residential, ~20% commercial professional design, installation and service. Recognized as the areas industry leader.
Owner Qualifications:Dependent upon buyers intention on operations. No technical knowledge is required. Existing team is available for long-term employment. General management, accounting, and business operational experience expected. Currently owned absentee.
Competition:No competition for similar grade product or design/installtion services for a minimum 2 hour drive in any direction up to 3+ hours.
Potential Growth:Owner believes growth potential is substantial subject to increased marketing activities in the design/build pre-wire, commercial services.
LocationType of Location: Strip Center
Monthly Rent: $6,875
Square Footage: 5205
Showroom features purpose built demo rooms for maximum impact from audio and video solutions for indoor and outdoor enjoyment. Upfit of location exceeds $250,000.
Last Updated: Mar 12, 2015 / 1:28 PM
Financial Information Current as of: Jul 23, 2013 / 2:17 PM