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Independent Coastal Supplier of Diverse Workspace and Storage Solutions
NCListing DetailsOffice ID: WORKSPACE1
Status: Active
Listing Broker: Jeff Snell, CM&AP, M&AMI, LCBI, ABI
Listing Price: $815,000
Gross Revenue: $806,602
Cash Flow: $206,726
Inventory: $27,207
Inventory Included: Yes
FF&E: $110,073
FF&E Included: Yes
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:
Seller is willing to participate in SBA seller financing up to 10% - only if required by SBA (which has not been required since 12/2018).
Reason for Sale:
Retirement
Training:
Sellers will provide up to 80 hours of transition support at no additional cost. Additional transition assistance my be negotiated.
OperationsYear Established: 2006
Form of Ownership: LLC
Employees (full-time): 5
Managers: 3
Business Hours: M – F 8 – 5. Showroom by appointment
Summary
Business Description:
This business provides a wide range of high quality storage, organizational, and workspace solutions to both residential and commercial clients locally as well as nationally and online. The owners have built a large clientele including federal / state government and local municipalities, medical/hospital/research labs, industrial, manufacturing sectors including new floor marking signage for pandemic era social distancing. The business also provides a range of applications for residential garages (including workshops), home office spaces, attics, sheds, laundry/mudrooms and closets. Another residential product category offered to residential clients are fixed and retractable screens, shades and awnings. Not only does the business sell stock, semi-stock and fully custom cabinets, work surfaces and shelving they also install the highest quality epoxy floor coating solutions in hundreds of different colors and textures. The business is a supplier and distributor of industry related products, for some of which they hold an protected territory. The unique product mix, vendor redundancy, distribution capabilities, installation and service lines provides the owners a diverse, high-margin income stream.
Historical Summary:
The business was founded in 2006 by a husband and wife team who are ready to retire.
Owner Qualifications:
Buyer should posses general business skills and be comfortable with basic design and installation techniques. Familiarity with general accounting, marketing, human resources, client management and sales a plus or can be hired in.
Competition:
This business provides a complimentary range of products, installation and service that is difficult to match which has resulted in sales to clients across the country. A true "one stop shop" for most projects short only of electrical and plumbing when required.
Potential Growth:
The business is well positioned for growth having the tools/equipment and tow vehicle/trailer to double capacity. A new energetic owner could choose to increase the number of products even further, undertake marketing in a larger geographic area, and/or increase participation in tradeshows and home shows. The new owner could also open a retail showroom location selling accessories and complete installations direct to consumer.
LocationType of Location: Commercial Center
Option: MTM
Monthly Rent: $800
Square Footage: 1500
Facilities:
The business operates out of leased commercial space with good signage and frontage on a major thoroughfare with adequate parking. Within the facility are multiple showrooms that display many of the available products, colors and finishes available. There is also a workshop and warehouse for staging and preparing jobs for delivery and installation.
Last Updated: Oct 13, 2020 / 1:10 PM
Financial Information Current As Of: Sep 14, 2020 / 3:05 PM