Business Summary:
This is a great opportunity to get involved and monetize in the construction industry, which is booming, especially in Florida. Additionally, flooring is a great sector and nicely diversified due to the demand being driven by both new construction and the R&R (remodeling & renovation) market.This is an established and successful wholesale flooring distributor, part of a Parent Company, that offers high quality wood flooring and high-end luxury vinyl flooring to retail businesses throughout Florida, and other areas in the Southeast and Northeast. The business is very efficient, utilizing a 3PL for their warehousing and distribution functions and allows the future buyer to have the flexibility to move to an alternate location, if desired. The Business currently has multiple lines of flooring within the categories of Engineered Hardwood Flooring and Rigid Core Luxury Vinyl. The Luxury Vinyl features a Rigid Core product that is unique in that their trademarked Quartz PC (QPC) qualifies as an AC5 (highest durability) and no other vinyl product currently would qualify. The QPC because of its patented finishing process has the highest clarity (real wood look) of any vinyl flooring product, and because of its finish thickness and stability process it has zero exposure to claims for hydrostatic pressure deformations that many other Rigid Core vinyl products are facing. Additionally, the product is highly scratch resistant, burn resistant, stain, and slip resistant. The Business has exclusive marketing rights for Quartz PC in Florida and the Southeast.The Parent Company (which is not for sale), has also partnered in the development of a cutting-edge product called CRC or Cement Resin Core, which is patent pending. The Parent Company could convey the marketing availability for inventory sales in the region to the new owner of the Business. In 2023 the Company developed a marketing strategy for using E-Commerce to expand the reach of its products. The Company has a loyal customer base that opens tremendous opportunities in their newly created E-Commerce platform along with their recent growth into other regions. Potential Buyers can also achieve a considerable increase in market share through a strong social media marketing program along with hiring more independent sales representatives in new markets. According to Grandview Research, the North American Wood Flooring Market in 2022 was estimated at nearly $7.4B, and the CAGR from 2023-2030 is expected to be 2.4%. 66% of this market is in engineered wood flooring, the primary product offering of the Company. Wood Flooring is considered an “upsell” in most market tiers, and consistent quality, durability and beauty are the features driving consumer decisions. The Company has an acknowledged expertise in this market segment. The current shortfall in total housing units available in the United States is driving ongoing construction of both single family and multi-family structures throughout the country. The existing home remodeling industry is growing at a similar pace as well. The largest market share of engineered flooring continues to be white oak, sourced primarily from European forests, and the Company has developed excellent, reliable sources for this specific wood flooring.There are 13 major distributors in North America with national footprints in the USA or Canada. The Company has ongoing relationships within this group, as well as relationships in second-tier companies with regional market footprints. The Luxury Vinyl Plank (LVP) segment of the Vinyl Flooring Market in the United States was valued at USD 3.3B in 2021, registering a CAGR of 6.00% during the forecast period (2023-2030), and the market is projected to be worth USD 6.5B by 2030. The Business has positioned its proprietary Quartz PC (QPC) vinyl product perfectly to take advantage of consumer desire for durability and beauty and has attracted interest and strong sales growth throughout their dealer territory.
|
|
|
