Overview

Building Materials and Hardware Stores

Independent Coastal Supplier of Diverse Workspace and Storage Solutions

Price: $645,000

Listing ID: WORKSPACE1

Annual Sales: $1,141,933

FF&E: $110,073

Seller Discretionary Earnings: $206,648

Year Established: 2006

Days & Hours of Operation: M – F 8 – 5. Showroom by Appointment

Inventory: $33,992

Reason For Sale: True Retirement

Listing Status: New

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Summary

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. Additional residential product offerings include 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 derives a portion of revenue acting as a supplier and distributor of industry related products. The business has exclusive distribution/sales rights in certain markets.

The unique product mix, vendor redundancy, distribution capabilities, installation and service lines provide 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.

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.

Growth & Expansion:

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.