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Live & work in tropical paradise on the southwest coast of Florida
Listing Price: $550,000. (For the Business). Real Estate is available and has a Fair Market Value of roughly $600,000. Seller wants cash for the business and will consider some financing on the Real Estate for a qualified buyer. In lieu of selling the Real Estate, Seller will consider a lease to a qualified tenant.
This is a family owned and operated full service upholstery and refinishing business that has been passed down from generation to generation and has close to 100 years of history behind it. The shop does business all along the Southwest Coast of Florida and makes award winning products for high end residential and commercial clients. They have built a strong reputation in the industry for “Old World” craftsmanship and have been serving customers in the area for 35+ years. The bulk of their business is retail residential which makes up roughly 70% of the business. The other 30% comes from designers & decorators, furniture stores & commercial accounts.
This business currently generates “Free Cash Flow” of $255,332 annually, resulting in a very attractive “Owners Benefit”. This would be an ideal family operation, as 100% of this “Free Cash Flow” would stay with the family. The operation requires one person in the back room to oversee the Upholstery and Refinishing and one person in the front to oversee the Office and Showroom. One or two good sales people could be hired and be paid strictly on a commission basis for the generation of new business.
Upholstery experience is a big plus, but not a must, as an investor could oversee this operation with an experienced upholsterer running the back-room operation. One of the current owners is hands on in the shop and oversees that operation on a daily basis. The owners are currently looking for a back-room manager with a strong background in the upholstery business.
The owners run this business out of a 9,000-square foot industrial facility. The building consists of roughly 2,100 Square feet of Office/Showroom space and 6,900 square feet of warehouse space. The showroom and a large portion of the warehouse have air conditioning. The showroom is the largest along the Southwest Coast of Florida and has the largest choice of fabrics to choose from. It is the owners desire to sell the Real Estate along with the business. However, should a buyer wish to purchase just the business, a sale with a lease back to the owners may be considered, subject to discussion with a potential buyer and being able to reach an agreed upon lease arrangement.
Real Property Included
Southwest Coast of Florida
9,000 square foot Industrial Warehouse consisting of roughly 2,100 Sq. Ft. of Office/Showroom space and 6,900 Sq. Ft. of Warehouse Space. Owners prefer to sell the building with the business, but are open for discussion should someone only be interested in the business and wish to enter into a lease arrangement.
There is tremendous potential for a new owner who is tech savvy and has the ability and the skill set to implement an aggressive marketing campaign. They could reach out to the Millennial's through the use of social media. They could establish a separate division within the company and implement a site through which they could sell fabrics all over the world. They could open on Saturdays. The store is currently closed on weekends. The size of the operation could be expanded and adequate staffing put in place to handle the increased business.
Although there are other Upholstery shops in the area, this company is "the name" in the upholstery and refinishing business on the Southwest Coast of Florida. No one else produces the quality work that this shop does nor do they have the reputation of this shop. They always enjoy a tremendous backlog of work, which is stored in their warehouse and in two storage sheds at the rear of the building.
Owners wish to retire, pursue other interests in life and spend more time with their families.
Monday-Friday 8:00 A.M. to 4:30 P.M.Closed on weekends
Two owners would remain on for up to 14 business days at no cost. They would be open to staying on for an extended period of time, subject to negotiating a satisfactory compensation package.
Business has been Pre-Approved for SBA Financing.
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