Originally founded more than a decade ago, the furniture retail store has grown to be a leading office furniture retailer in Southern Florida. The business holds longtime success in the furniture retail industry due to their marketing efficiency, large number of product offerings, and open showroom which allows prospective customers to view and try products prior to purchase. The company offers multiple varieties of seating options, desking and tables, filing and storage systems, and Evolve Systems with power strips built into the furniture. This large variety of products in conjunction with their unique showroom allows the business to market, and in turn sell, more products than their competitors. As a testament to the importance of the showroom, more than 30% of the business’s sales are acquired through customers coming into the showroom.
The furniture store’s customer base is entirely commercial, this includes local businesses, nearby government agencies, and fire departments. Once one of these commercial accounts is sold on having the company as their furniture supplier, they are likely to stay with the business for future furniture needs and rarely change to other suppliers. A large portion of sales is derived from existing accounts rather than newer customers. These commercial accounts, as well as other customers, are mainly acquired through the use of digital advertising with social media like Facebook, as well as Google Search Engine Optimization. In addition, many existing customers refer the business to their contacts, helping to bolster their sales. A new owner could capitalize on the longtime and recurring business of the furniture store to maintain a consistent stream of income in the future. However, there are some concerns regarding the business’s working capital. The company works directly with a furniture factory to supply their store, but they simply do not possess the working capital necessary to supply multiple large orders at once. As a result, larger orders from their commercial accounts can only be transacted one at a time, slowing revenue collection.
The broker of record for this transaction is Jon Nesbitt, FL License #