Easy Business W/ Recurring Customers and 98% American-Born Wealthy Clientele
Luxurious, exotic, and royal, these are just a few adjectives that come to mind when
people think of this rare, 19-year old, local distributor of Oriental and Persian rugs. One
of the only businesses in the area with a perfect 5-star review, this business was
purposefully established in one of the most affluent cities in the country. Current owner is
able to comfortably charge 300-800% margins to the end-user, because the clientele
have the discretionary finances to pay for it (now that’s pricing power). Even better, the
majority of rug sales are made on consignment, meaning that the owner doesn’t pay for
the product until after it sells. This is one of the safest business models there is.
One of the most surprising aspects of this business is not only are ~98% of clients
American-born, but 60% of them are recurring customers. This is due to the extreme lack
of competition in this niche market, and the supplementary services they provide after
purchase. These services include: washing, repairing, and padding (performed at
storefront by hired employee).
Contrary to what you may believe, the person that acquires this business won’t require
any prior industry knowledge. According to the owner, all services provided are extremely
easy to learn, and the majority of the manual labor is done by staff. Owner has been in
the industry for over 30 years (would do 100 more if it weren’t for age), and has been able
to travel and live a lavish life due to the income that this business has been able to
consistently generate over the years.
Now in his old age, he is looking to transition this remarkable treasure to a safe pair of
hands, so that its legacy can live on for decades to come.
