RETURN TO RESULTS

Furniture Store

Location: North Carolina

ID: (#200670)

200670
Price:$2,300,000
Revenue:$3,000,000
Cash Flow:$769,000
FF&E (Assets):$25,000
Inventory:$80,000
Real Estate:$0

Overview

Highly profitable furniture store in North Carolina. Exceptional earnings per square footage at a prominent location with an affluent customer base in a fast-growing area.
Listed numbers are for 2019. Revenue in the first 6 months of 2020 was 1.3 MM.

The success of this business is the right mix of new and top-end consignment products, as well as the combination of brick-and-mortar where customers can touch and feel the goods and the online shop that caters to the local community.

Exceptional vendor relationships, large client following, superior reputation and an extensive social media presence are part of the sale.

Details

Reason for Selling:

Retirement

Established:

2009

Employees:

8

Furniture, Fixtures, and Equipment (FF&E):

Fixtures and office furniture used in the business are in good condition and will convey with the sale.

Facilities:

Leased space 7,500 sqft in prominent mall location.

Competition:

This business differentiates from other furniture stores in the area through its mix of new and like-new consignment which secures its position between the discount stores and the high-end priced retailers. Affordable delivery prices and the convenience of touch-and-take home fights off online competition.

Opportunities for Growth:

Continued residential development around the business locations increases foot traffic. Additional retail space or a second location are options for expansion, as well as creation of online store, interior design and staging divisions as profit centers.

Support and Training

The seller is willing to remain with the company for a certain amount of time to assist in the transition and training of the new owners. After that time the Seller and Buyer may enter into a consulting agreement for terms and conditions to be determined later.

Broker Contact Information

  • Regina Fisher
  • North Carolina - Wilmington
  • (910) 520-0737 Mobile
  • (208) 401-9523 Office
  • (208) 248-5610 Fax
  • By Appointment Only
  • Bristol Group Carolina
  • North Carolina - Wilmington
  • By Appointment Only
  • Wilmington, North Carolina
  • Real Estate Broker: Bristol Group Carolina