Very Profitable Kitchen and Bath Remodel Company
North CarolinaListing DetailsOffice ID: REMOD1
Status: Under Contract
Listing Broker: George Bradbury
Listing Price: $550,000
Gross Revenue: $943,820
Cash Flow: $201,415
12 Month Forecast: $1,080,000
Forecasted Cash Flow: $225,000
Inventory Included: No
FF&E Included: Yes
Real Estate: $310,000
Sales Structure: Asset Sale
Seller Financing: Yes
Reason for Sale:Due to health problems the owner is retiring from full time efforts in the business.
Training:The seller will train the buyer for 80 hours during a one month period to insure a smooth transition. The owner will sign a non-compete agreement. The owner will consider longer term arrangement whereby the he will stay on and work part-time in the business.
OperationsYear Established: 2000
Form of Ownership: S Corp
Employees (full-time): 2
Employees (part-time): 1
Employees (contractors): 10
Business Hours: MtoF 8 to 5
Business Description:This established prime bath, kitchen and home decor company has a reputable 20+ years in business, known for excellent customer service, high-quality products, and expert installation This business offers a buyer the opportunity to accelerate growth in an area known for high-end second homes and condos, upscale neighborhoods and future I-42 expansion of commercial and residential real estate market.
The business has operated from the same location on a heavily trafficked thoroughfare in a beach town in a growing area of the North Carolina coast. Their showroom and onsite warehouse includes the most extensive selections of flooring, tile, cabinets, countertops and much more. Showroom designers are educated have 90% success sales rate. The business operates in a highly visible 3,470 sf showroom, office and warehouse.
Historical Summary:Since the year 2000 this company has been delighting their clients with exquisite kitchens (average value $35,000) and bathrooms (average value $20,000).
Owner Qualifications:The buyer should have some background in residential construction/remodeling, general business experience and enjoy customer interaction.
Competition:There are a couple of privately owned and franchise operations that service this market. There is no competitor with the breath of all-inclusive product and service offerings. This company is best known for excellent quality, high customer satisfaction, reliable service, expert installation and honest business practices.
Potential Growth:Business financials show annual increased growth. The area has been a relatively underserved “quiet” area, but due to new interstate expansion; the area will be experiencing exponential residential and commercial growth. Business could be increased by adding sales and support team members.
LocationType of Location: Strip Center
Real Estate for Sale: Yes
Real Estate: $310,000
Monthly Rent: $4,500
Square Footage: 3470
The business occupies a 3,468 sq. ft. one story showroom/warehouse on a heavily trafficked highway. The owner will lease ($4,500 month) or sell the building. A current appraisal will be forth coming. The owners will sell the building or negotiate long-term lease with options.
Last Updated: Jun 22, 2021 / 4:23 PM
Financial Information Current As Of: Jan 28, 2020 / 7:51 AM