Foam Retail Marine and Residential Business For Sale

Business description

The Foam Source is a retail foam and fabric store with in-house sewing and upholstery workroom. The Foam Source is one of the local leaders in marine upholstery supporting the needs of the thousands of boat owners in the Puget Sound area. Over half of the work is residential and RV, reupholstering chairs, cushions, and mattresses. The business is run with 3 seamstress’s one being the owner. The business is currently located on a prime corner of Hwy 99 and leased 1,700 sq ft. In 1995, a doorway to an adjoining bldg was installed increasing the much needed space 1,300 sq ft. The Foam Source has been owned and operated for nearly 22 yrs under the same owner. In January every year the company has a booth at the Seattle Boat Show where 50% of business comes. The marine sales are advertised under the registered name Sea Foam Yacht Interiors.

Property information

Real Estate:

Lease

Lease terms:

The Foam Source has 3839 sq ft in a strip mall on a major highway with excellent exposure. The showroom consumes .25 of the space, while the remaining is workspace. This includes 2 bathrooms, storage and an employee lounge. Delivery access is through 2 separate back loading doors. The current 5 yr lease is approaching the end, though an excellent relationship has been established with the landlord which has offered another 5 yr lease.

Living accommodation:

None

Location:

The Foam Source has 3839 sq ft in a strip mall on a major highway with excellent exposure. The showroom consumes .25 of the space, while the remaining is workspace. This includes 2 bathrooms, storage and an employee lounge. Delivery access is through 2 separate back loading doors. The current 5 yr lease is approaching the end, though an excellent relationship has been established with the landlord which has offered another 5 yr lease.

Other information

Expansion potential:

Steady growth has continued over the 22 yrs of business. Increased opportunities are available with RV, automotive, small boat and a growing need for specially shaped or cut foam for medical and mobility demand. Currently requests for work on large furniture is sub-contracted, a new owner could retain this business.

Competition / Market:

Statistics show 1 in 4 residence of Puget Sound own boats. There is a good referral business from local big box stores, RV dealers and related business as most do not carry large pieces or the variety. The business has an excellent reputation for service, on-time delivery and perfect fit.

Support & training:

Negotiable

Reasons for selling:

Retirement

Trading hours:

M-F 9am to 6pm Sat 10am to 5pm

Financing available:

SBA

Inventory / Stock value:

$25,000