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Overview

Building Materials and Hardware Stores

Supplier of Diverse Commercial Workspace and Storage Solutions

Price: $625,000

Listing ID: WORKSPACE2

Year Established: 2006

Annual Sales: $804,260

Seller Discretionary Earnings: $225,220

SDE Multiple: 2.8x

SDE Margin 28.0%

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

Full-time Employees: 4

Reason For Sale: True Retirement

Limited Seller Financing: Yes, Seller is open to negotiating some level of financing for the right Buyer. .

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


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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: None

Facilities Type: Commercial Center

Facilities Description:

The business is Home Based and can be easily relocated. Location should consider the need to call on regional customers in support of proposal development. While most products are drop shipped to customer locations, a small storage space is maintained for support materials, tools, equipment and vehicles.