|Lucrative Outdoor Power Equipment Sales and Service of Name Brand Products|
NCListing DetailsOffice ID: EQUIP2
Status: Offer Received
Listing Broker: Jeff Snell, CM&AP, M&AMI, LCBI, ABI
Listing Price: $1,165,000
Gross Revenue: $4,071,823
Cash Flow: $312,621
Inventory Included: Yes
FF&E Included: Yes
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:Seller will participate in SBA mandated owner carry if required. Note that it is not anticipated that Seller will be required to finance any portion of the sale.
Reason for Sale:Retirement
Training:Seller will provide 80 hours of transition/training support at no additional cost.
OperationsYear Established: 1970
Form of Ownership: S Corp
Employees (full-time): 8
Employees (part-time): 1
Business Description:ENLIGN is proud to represent this established and profitable service and sales center for name brand outdoor power equipment. Serving both residential, commercial and municipal accounts this business has built a reputation of quality with loyal customers. The business maintains a depth of inventory for sales and service needs including commercial mowers, residential mowers, trimmers, hand tools, edgers, chain saws, blowers, hedge trimmers and brush cutters from several top name brand manufacturers. $250,000 of inventory (parts and saleable product) will be included in the purchase price. Should actual inventory at cost exceed $250,000 as of the date of closing the purchase price will be increased dollar for dollar. If the actual inventory at cost is less than $250,000 the purchase price will be reduced dollar for dollar. Note that due to seasonal purchasing that there is currently almost $400,000 in owned inventory and an additional ~$450,000 of inventory on consignment or floor plan accounts. Buyer will need to apply and be qualified to establish new flooring credit facilities for this portion of inventory.
Historical Summary:The business was formed in the 70's and has continually operated as an brand name authorized outdoor power equipment sales and service center. The nature of this business allows the business owner to have significant inventory on hand at the manufacturers expense. Products are paid for when sold and the financing facilities will need to be assumed or established by the Buyer. An adjustment as of the date of closing will be made such that seller will be responsible for income and expenses as of the day of sale and buyer thereafter.
Owner Qualifications:Buyer should have general business/management experience, enjoy customer interaction and providing quality products and services.
Competition:Competition in this industry locally is rather limited with most competition choosing to focus more exclusively on residential or commercial or municipal. In general, most manufacturers do not distribute their high end or commercial products to big box retailers (I.E. Lowe's and Home Depot).
Potential Growth:A hands on owner operator could increase sales and revenue by focusing on internet marketing (social media, pay per click, etc.). Additionally, online parts sales could be expanded and new brand lines could be added as they become available in this market. Buyer could add a small tractor line and staff outside sales position as well. Equipment rental is an entire revenue center that could be implemented.
LocationType of Location: Stand Alone
Monthly Rent: $4,000
Square Footage: 5000
The business operates from one leased facility and one owned facility. The owned facility is not being offered for sale. It is available for rent on a triple net basis for $4000 per month. Both have sdequate retail/service and parking and have been well maintained. Locations are conveniently located with easy access for customers. Ample signage is also in place and highly visible.
Last Updated: Feb 27, 2019 / 11:48 AM
Financial Information Current as of: Jun 27, 2018 / 2:26 PM