NCListing DetailsOffice ID: MFG17
Listing Broker: Charles Milam, M&AMI, CBI
Listing Price: $298,000
Gross Revenue: $349,000
Cash Flow: $110,000
12 Month Forecast: $425,000
Forecasted Cash Flow: $156,000
Inventory Included: Yes
FF&E Included: Yes
Real Estate Included: No
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:Seller will provide some financing
Reason for Sale:Retirement - Seller plans to manage real estate holdings
Training:30 days included of mentoring and training are included. Seller is also open to part-time employment.
OperationsYear Established: 2004
Form of Ownership: Sole Proprietorship
Employees (full-time): 6
Employees (part-time): 6
Business Hours: Monday - Friday, 8am - 5pm
Business Description:Custom reupholstery services to bring worn or damaged chairs, sofas, headboards and other furniture back to new for owners, designers and interior decorators looking for something special.
Historical Summary:A great reputation for quality workmanship earned over the last 10 years has positioned this business for continued success via word of mouth referrals with very little pricing pressure. The employees are talented, experienced and loyal thus their output is high and turnover is low.
Owner Qualifications:Buyer should have general business knowledge. Cutting, sewing and other manufacturing experience is a plus but is not required.
Potential Growth:The "Green" aspect of recycling furniture frames is having a positive impact in the market. Price increases should become an annual strategy. An unused Internet address exists for expansion into specialty furniture.
LocationType of Location: Stand Alone
Real Estate for Sale: Yes
Option: Seller owns real estate
Monthly Rent: $3,500
Square Footage: 6791
Facilities:The stand alone facility has room for more output and is conveniently located on a busy road with high visibility and ample parking.
Last Updated: Feb 22, 2016 / 6:03 PM
Financial Information Current as of: Nov 21, 2014 / 5:31 PM