Businesses For Sale > Business For Sale in Virginia (VA)
Massive Regional Furniture Retailer for sale in VA
Virginia (VA)
Asking Price: |
Gross: |
Cash Flow: |
$ 1,300,000 |
$ 3,518,410 |
$ 539,267 |
Furniture and Fixtures Value:
$ 100,000 (included in the asking price)
Inventory Value:
$ 1,000,000 (included in the asking price)
Real Estate:
(not included in the asking price)
Business Summary:
This large-scale regional furniture retailer was launched in 2013 and has been owned and managed by an experienced, successful entrepreneur who possesses over 3 decades in the furniture business. As a consequence, all of the success ingredients are in place for new ownership -- an excellent community reputation, loyal, regional customer footprint, deep industry know-how, excellent supplier relationships, an extensive product offering of quality, well-known furniture brands, and a helpful, courteous delivery team. All of this is marketed in a massive, comfortable facility loaded with ready-to-sell inventory. While all of the above is impressive, this business is also grounded on a customized, personal client interface that meets the furniture requirements of every room in the house or commercial space -- including dining, living, kitchen, study, recreation, bedroom, patio/pool, boardroom, training conference, or office -- all of which are supported by non-commissioned sales personnel and including free furniture delivery. The extensive inventory selection covers the full gamut of features, price, design, and variety to meet a broad spectrum of customer tastes. The results are impressive with 2023 top-line revenues of over $3.5M and bottom-line cash flow (after add-backs) of $539,000 ... which exceeds category average returns.The seller is retiring from the business but is willing to stay involved in the operation for up to 6 months to ensure a successful, effective transition and to cross-train and transfer his lessons learned and best practices from over 3 decades in the furniture business.Financing Package -- this business has been pre-qualified by two banks offering SBA business loan financing and working capital. Applicants must meet bank approval criteria and undergo a formal bank underwriting process. Complete details are included in the Confidential Information Memorandum (CIM) which will be provided after completion of the NDA package.
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Year
Business was Established: 2013 |
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Number of Employees:
5 FT |
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Facilities / Terms of Lease:
The property includes two massive warehouse buildings, sales offices, an entrance foyer, a fully stocked customer lounge, fabric sample display rooms, and a children's play center. The location is conveniently accessed to and from its regional customer base and features plenty of customer parking and a multitude of large garage doors/loading docks to facilitate the inflow and outflow of furniture. The seller is offering an attractive $15,000/month triple net lease (Complete facility details are included in the Confidential Information Memorandum). |
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Potential
Growth/Expansion:
While the present results are impressive, there several identified growth options available to the new ownership:
1. Hire additional sales personnel
2. Implement social media marketing -- LinkedIn, Facebook, X, Insta-gram
3. Enhance marketing budgets to targeted surrounding market areas
4. Launch an internet selling model |
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Competition:
The retail furniture category is highly fragmented and companies compete on price, service, and delivery. This business is a high volume, large-scale ($1M in inventory), and regional business model. There are other large competitors in this space but the geographical distance provides some protection of margin and competitive density. This business has built a loyal client base over the last decade and has grown top-line revenue 35% since 2020. Their non-commissioned sales model, free delivery, extensive inventory, and highly customizable ordering process are competitive strengths. |
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Owner
willing to finance:
Lender pre-screened with $130K down. |
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Reason for selling:
After 3 decades in the furniture business, the owner is ready to retire. |
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Seller Reference Number: 2008-18279
BusinessMart.com Listing Number: 307955 |
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To request more information
on this business
please fill out the form shown right
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For
more info contact:
Evelyn Correa
Murphy Business & Financial Services
727-725-7090
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