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Overview

Building Materials and Hardware Stores

Supplier of Diverse Commercial Workspace and Storage Solutions

Price: $535,000

Listing ID: WORKSPACE2

Year Established: 2006

Annual Sales: $1,139,955

Seller Discretionary Earnings: $178,788

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

Full-time Employees: 5

Reason For Sale: True Retirement

Limited Seller Financing: Yes, Seller will provide lender required financing of no more than 10%.

Listing Status: Active


Summary

Description:

WORKSPACE2 is the commercial division of WORKSPACE1 and is being offered apart or in combination with WORKSPACE3, the company's residential division. This business provides a wide range of high-quality storage, organizational, and workspace solutions to commercial clients locally as well as nationally. The owners have built a large clientele, including federal / state government and local municipalities, medical/hospital/research labs, industrial, and manufacturing sectors providing highly sought-after products from industry-leading manufacturers that generate both new and recurring revenue opportunities. Not only does the business sell stock, semi-stock, and fully custom cabinets, work surfaces, shelving, and related workspace and storage solutions, but they also provide value-added installation services from Georgia to Virginia with its own personnel and elsewhere through alliances and sub-contracts. The business derives its revenue by acting as a supplier and distributor of industry-related products. The business has preferential distribution/sales rights in certain markets. The unique product mix, vendor redundancy, distribution capabilities, installation, and service lines provide the owners with 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 Opportunities:

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, publications and direct marketing. A field sales force could also be added to further penetrate key accounts.

Owner Qualifications:

Buyer should possess 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.

Support & Training:

Seller will provide 80 hours of transition assistance included in the purchase price.

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Steve Zimmerman, CBI

Senior Broker – Raleigh, NC

Cell: (650) 823-6174


Contact Listing Broker

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Real Estate Transaction Handled by

2009 Caminos Drive, Raleigh, NC 27607

Real estate agent's disclosure Form

Location: Coastal North Carolina

Real-Estate: Leased

Facilities Type: Commercial Center

Monthly Rent: $1,500

Building Square Feet: 1,500

Facilities Description:

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.
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