Modern Retail Showroom & Attached Warehouse
Location New York,United States
Asking Price Range $1.0M - $2.5M
Gross Revenues $1500000
Net Profit / Cash Flow $1500000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 1972
Number of Employees 6 - 9
Inventory 0
Relocatable No
Number of Employees 6 - 9
Real Estate Owned
Training No.
Reason for Sale Retirement.
Description Modern 20,000 ft2 ground level showroom, 8,000 ft2 attached warehouse with loading dock and separate entrance with security in Central New York State in excellent commercial area. Current ownership is retiring. The property is professionally landscaped on a very busy intersection. The building was constructed in 1972 and designed as a retail furniture operation with a central open office area, with an addition put on in 1990 to serve the increased market demand. Current business generates $1.5 million revenue annually but could be better marketed. Current corporation in existence since 1888. Very strong local identity and established reputation in retail space. Corporation sold separately from assets to open market demand. Current tenant expected to vacate end of 2006 or possibly sooner if a credible deal is pending.
For those interested in acquiring the existing Business and leasing the property:
Current operating levels result in a three truck loads of delivered sold product weekly. With a second truck, the current facility can support ten truck loads per week with the addition of a shipping manager and an extra delivery crew. Growth in well hired commissioned sales people launches this growth plan. The current market is only just realizing recent improvements in merchandising quality. Current strategy is to deeply discount, with little effort at differentiation from the competition. Net profit under this plan exceeds 10%. Current strengths include premium brands but an associated need to build strong attention to customer service to launch a differentiation play. This is a very realistic opportunity for an experienced furniture retailer or chain. Despite the current discounting pure play, market penetration has accelerated and will necessarily be part of the promotional mix of the new owner / lessee. This has been accelerated by lower interest rates and a steep increase in residential housing sales in the local 75 mile market radius.
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