The business operates out of two standalone buildings. The first
building has a designated area of 1,600 square feet for parts
and service, along with a showroom spanning 2,000 square
feet. The second building, which houses the appliances, has a
total area of 4,000 square feet. The purchase of this business
includes $250k in assets, which overcollateralizes the loan,
including vehicles, trailers, equipment, inventory, and accounts
receivable. The staff consists of a total of 8 members, including
1 service lead, 2 service technicians, 1 installation lead, 1
installation technician, 2 office managers, and 1 delivery
assistant. With this well-established team in place, the seller is
able to be a semi-passive owner, providing oversight and
management support as necessary. As a show of good faith,
the owner has offered 10% seller financing and will stay on
board for 6 months-1 year transition. The loan is 100% overcollateralized! Established over 90 years, this retail appliance
business has an excellent local reputation and deep roots within
their community. The business is near Iowa City and serves
clients in various small towns within a 50-mile radius. While
there are a few other competitor appliance stores in the area,
very few offer installation and maintenance services, which sets
this business apart from its competitors. Priced at $215,000, the
buyer needs less than $30,000 cash down!
- Asking Price:
- $215,000 Furniture / Fixtures included
- Sales Revenue:
- $960,954
- Cash Flow:
- $65,279
Business Operation
- Expansion Potential:
-
The service aspect of the industry
has exponential growth opportunities as this aspect of
their business is unique to the area. Partnering with
outside appliance sales businesses to offer appliance
servicing could offer exponential growth
- Reasons for selling:
-
Moving on to next chapter in life
- Employees:
- 8
- Years established:
- 1930
