High End Audio Video Retailer - Installer LAListing DetailsOffice ID: HIFI1 Status: Sold Listing Broker: Jeff Snell, M&AMI, CBI, ABI Listing Price: $275,000 Gross Revenue: $1,003,510 Cash Flow: $83,311 Inventory: $200,000 Inventory Included: Yes FF&E: $47,000 FF&E Included: Yes Down Payment: $60,000 Sale Price: $300,000 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-terOperationsYear Established: 1997 Last Acquired: 2012 Form of Ownership: S Corp Employees (full-time): 2 Employees (part-time): 3 Managers: 1 Business Hours: 10-6 Monday-Saturday Summary 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 Real Estate for Sale: Yes Monthly Rent: $6,875 Square Footage: 5205 Facilities: 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: Dec 18, 2017 / 11:53 AM Financial Information Current As Of: Jul 23, 2013 / 2:17 PM  |
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