PRICE REDUCTION - OWNER MOTIVATED (HEALTH). If you are looking to enter the point of sale and electronic cash register industry, then this is an opportunity that you do not want to miss! The company has been a leading provider of POS and cash register systems for restaurants and businesses for over 24 years, and now the business is up for sale.
The company has established strong relationships with the best-known vendors in the point of sale business to provide high-quality and reliable products to our customers. Their product selection is vast, and they carry a wide variety of paper and ribbon supplies to ensure that their customers have everything they need to keep their businesses running smoothly.
As the new owner, you will have the opportunity to partner with the best-known vendors in the industry and expand your business by offering personalized solutions to your customers' needs. You will also have access to their experienced team of professionals, who can provide you with guidance and support as you grow your business.
The 2022 and 2023 downward pressure on financials of the firm were caused by two factors:
• In 2022, Hurricane Ian, an extremely costly and destructive Category 5 Atlantic Hurricane, wreaked havoc on Ft. Myers, particularly impacting barrier islands and the coastal area. The hurricane left a trail of devastation, demolishing numerous restaurants and retail stores. Nearly all coastal businesses were forced to shut down for an extended period, leading to the closure of numerous establishments. The company lost a substantial number of clients, although they are gradually returning as the affected businesses undergo reconstruction.
• Around the same time, the owner's wife received a diagnosis of a serious health issue, demanding the owner's full attention for her treatment. The health condition of his wife became the decisive factor in their joint decision to retire and sell the business. A significant portion of the business operations is now overseen by their single employee, as the owners grapple with the ongoing health crisis.
The owners are facing challenging conditions, but the business is successfully rebuilding its customer base as the entire area undergoes a revitalization. In addition to revenue generated from the sales of equipment and supplies, the business also earns residual income from credit card transactions, POS software subscriptions and service contracts. In 2022, the residuals amounted to $111,278, and in 2023, they were $93,105. This significant residual income has played a crucial role in helping the business weather its tough times.
It's important to note that the business qualifies for SBA financing. Don't miss out on this incredible opportunity to own a successful business with an established customer base and a solid reputation in the industry!
