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Furniture Store (Brick-and-mortar & Online)

Location: North Carolina

ID: (#200670)

200670
Price:$2,300,000
Revenue:$3,000,000
Cash Flow:$720,000
FF&E (Assets):$25,000
Inventory:$280,000
Real Estate:$0

Overview

Highly profitable furniture store in Eastern North Carolina. Exceptional earnings per square footage at a prominent location with an affluent customer base in a fast-growing area. The success of this business is having the right product price point, as well as the combination of brick-and-mortar and online sales. Voted #1 Furniture Store in trading area for 2019 by local publications.

Since the outbreak of Covid-19, this store has switched to ‘by-appointment-only curbside pick-up’ for in-store sales and has seen minimal declines in sales.

SBA Cares Act Debt Relief Program: The SBA will automatically pay the first 6 months of principal, interest, and fees on new SBA loans issued prior to September 27, 2020. https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief

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
  • Carolina One Properties Inc
  • North Carolina - Wilmington
  • By Appointment Only
  • Wilmington, North Carolina
  • Real Estate Broker: Carolina One Properties Inc