HS Listing ID-63548
Asking Price: $699,999
Annual Figures: 2023
Gross Sales: $634,739
Net Profit: $328,460
Expenses: 2023
Total COGS: $230,102
Business Highlights:
- In business for 40 years
- Services mainly Ft Myers, Naples, Marco Island. High end clients
- Projected to do $750,000 in 2024
- Perfect for someone that is in this industry and wants to takeover these repeat accounts
- Does not have physical location. Works from home.
- They have 3 employees and 1 office personnel, but only 1 employee would come with the business. She is a seamstress (35-40 hours a week at $20 an hour)
- Custom home furnishings (Drapes, blinds, bedding, pillows). They do the fabrication.
- Mostly repeat customers and referrals. Some business comes from website and Google
- Retail 25% and wholesale 75% sales
- Busy all year long. No slow season
- 2021 Van could be included in the sale (worth 50K)
- 10 machines will come with the sale (100K value)
- Fully approved by SBA lender
- Owner will stay on for a transition period to ensure a smooth transition
- Some seller financing is available
- Reason for the sale: Owner is retiring
2023 Addbacks:
Total Automobile: $16,521
Total Insurance (auto & health): $30,912
Total Interest Expense: $6,490
Total Meals and Entertainment: $23,997
(condo): $33,440
Payroll Expenses (owners salary): $39,000
Total telephone expense: $5,241
Model T (Other company expense): $3,691
Dues and Subscriptions: $2,455
Escrow Peace (Owners property): $11,331
941 Tax (Owners tax): $9,867
Uniforms (Owners): $3,442
= $186,387
NOI: $142,073
+ addbacks ($186,387)
= True Net Income $328,460
Roughly around $100,000 cash for 2023 (Used for employee pay)
2022 Addbacks:
Total Automobile: $20,605
Total Insurance (auto and health): $21,467
Total Interest Expense: $7,316
Total Meals and Entertainment: $15,465
Paseo Expenses: $20,880
Payroll Expense (owners salary): $65,650
Total Telephone Expense: $4,848
Model T (Other company expense): $3,203
Donations: $4,010
Dues and Subscriptions: $2,434
Escrow Peace (Owners property): $7,352
941 Tax (Owners tax): $19,076
Real Estate Paseo (Owners property): $5,811
Uniforms (Owners): $5,988
= $204,105
NOI: $90,729
+ addbacks ($204,105) - rental income ($10,985)
= True Net Income $283,849
Roughly around $100,000 cash for 2023 (Used for employee pay)
