Enlign

Enlign

Enlign

Overview

Building Materials and Hardware Stores

Home Storage and Organization Products and Installation

Price: $225,000

Listing ID: WORKSPACE3

Annual Sales: $349,176

Seller Discretionary Earnings: $75,111

Year Established: 2006

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

Reason For Sale: True Retirement

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

Listing Status: Active

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Summary

Description:

WORKSPACE3 is the residential division of WORKSPACE1 and is being offered apart or in combination with WORKSPACE2, the company's commercial division.

Originally specializing in residential garage upfits by installing decorative epoxy floor systems, specialty garage cabinetry, wall organization systems, and overhead storage, the residential division was expanded to closets and other general in-home storage applications.

Today, the residential division designs, supplies, and installs a wide range of high-quality products for residential garages (including workshops), home office spaces, attics, sheds, laundry/mudrooms, and closets. that improve workspace, storage, organization, and environmental comfort in clients' homes and light commercial businesses locally as well as nationally and online.

In addition to selling stock, semi-stock, and fully custom cabinets, work surfaces, and shelving, they also install the highest quality epoxy floor coating solutions in a wide range of different colors and textures.

The company also installs large format retractable screens for man doors, garage doors, porches, patios, and other spaces with other retractable solutions in the product mix.

The unique product mix, vendor redundancy, distribution capabilities, installation, and service lines provide the owners with a diverse, high-margin income stream.

Over the past three years, the residential division comprised on average 29% of gross sales with a net operating profit of 47%.

The owners have historically divided their time between the commercial and residential divisions, with the majority being dedicated to commercial operations.

A full-time effort on behalf of the residential market could significantly grow an already well-established brand and profitable business in the thriving local market.

Historical Summary:

Formed in January 2006, the company is comprised of a commercial and a residential division.   As the owners move towards retirement, they are offering the business for acquisition as is or separated into its residential or commercial divisions to include all vehicles, tools, inventory, collateral, and goodwill associated with its operations.  

The company is headquartered in New Bern, NC, and maintains a showroom, workshop, and warehouse in leased space.  The typical service area is a radius of approximately 50 miles.  

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 and home shows. The new owner could also open a retail showroom location selling accessories and complete installations direct-to-consumer. Online expansion is also possible.