GSA Contract Furniture Dealership w/ great potential to expand...

Washington, DC (District of Columbia County) (Relocatable)

Federal Command Center project

Asking Price:$850,000

Cash Flow:$157,000

Gross Revenue:$2,300,000

EBITDA:$72,900

FF&E:$35,000

Inventory:$1,000

Real Estate:N/A

Established:2007

GSA Contract Furniture Dealership w/ great potential to expand...

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Business Description

GSA Global Contract Furniture Dealership with 5 year TSA Contract

A MD based GSA/ Government Contract Furniture Dealership, focusing primarily on the GSA/ Federal Government market. With an office location in the heart of Washington, DC, The Company offers its clients the following Products and Services:
• Design/ Layout
• Project Management
• Warehousing/ Delivery and Installation of Furniture
• Over 50 GSA lines of Furniture
• Servicing 450 airport under a 5 yr contract with DHS/TSA

The company was awarded a Schedule 71-1 GSA Packaged Office Contract, April 2008. The contract was renewed April 2013 (Modification Approval # xx) there are 61 approved vendors on the contract. The Contract is kept current and in good standing.

GSA Ebuy is the online solicitation portal which allows the GSA Contractor to have access to GSA Specific bid requirements and RFQs which related to the SIN numbers, as listed below.

The Special Identification Numbers (SIN) #’s incorporated onto the GSA Contract are:

• 71-1 Packaged Offices
• 711-9 Executive Conference Room Furniture, Coordinated Tables, Case Pieces and Accessories
• 711-8 Executive Office Furniture
• 711-7 High Density, Movable Filing Systems and Accessories
• 711-3 Filing and Storage Cabinets, Shelves, Mobile Carts, Dollies, Racks & Accessories
• 711-2 Worksurfaces, Workstations, Computer Furniture and Accessories
• 711-19 Stacking Chairs and Dollies or Trucks Designed to Support Stacking Chairs
• 711-17 Multiple Seating
• 711-18 Multipurpose Seating
• 711-16 Upholstered Seating
• 711-11 Tables and Accessories
• 711-1 Furniture Systems and Workstation Clusters
• 71-399 Introduction of New Special Use Furniture Services/Products (INSP)
• 71-302 Training Room, Auditorium and Theater Furniture
• 71-301 Complete Daycare, Preschool and Classroom Solutions

The active GSA customer base includes approximately 230 different Federal customers. New customers are retained primarily through government networking events & programs, telemarketing, GSA Ebuy , Fed Biz Opps, and face-to-face sales visits.

BPA CONTRACT – with DHS TSA
The Company was awarded (2015) a 5 year Blanket Purchase Agreement (BPA) with Dept. of Homeland Security DHS Transportation Security Administration (TSA) to serve over 450 airport locations.

The total Contract value is set at approx 2,800,000. Which equals approx $ 560,000 each year. The company is providing (specific) products for all airports where TSA has a presence. The company anticipates that another 15% sales growth to some of the 450 locations with other related products and services

SOCIOECONOMIC STATUS:
The Company is a registered Small Owned Business which can obtain solicitations and contract strictly assigned to Small Business.

GSA ADVANTAGE WEBSITE:
The GSA Advantage website allows the unlimited addition of GSA approved products and services to be added, which are within the scope of the contract.

EXPERIENCE:
The owners of the Company have developed a unique knowledge and experience of the GSA market, combined with the background in construction and project management. They negotiated and mastered the original GSA Contract for Regalmark, obtained certification in Business to Government training and have continued GSA learning, training, mentoring and partnering.

GLOBAL PROJECTS:
The Company has completed projects in various global locations, which include Italy, Germany, UK, Afghanistan, Hawaii, Alaska, Puerto Rica, St Thomas, to name a few.
Logistics of project managing, coordination of product freight, installation have been mastered by the team.
This sale includes the following Company tangible and intangible assets:
• Proprietary Company information and methods of doing business.
• Patents/trademarks for the Company’s proprietary products.
• Over 230 customer contacts in database.
• Vendor lines/ purchase discounts
• Company reputation, past performance
• Company foundation, structure, systems and procedures.
• Cloud Based customized CRM Data

Detailed Information

Inventory:
Included in asking price
Real Estate:
Owned
Included in asking price
Building Sq. Ft.:
N/A
Employees:
3
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This sale includes the following Company tangible and intangible assets: • Proprietary Company information and methods of doing business. • Patents/trademarks for the Company’s proprietary products. • Vendor lines/ purchase discounts • Company foundation, structure, systems and procedures. • Cloud Based customized CRM Database containing over 300 Government clients • GSA Contract, GSA Advantage Catalog Products (Online GSA Site) • Customized Forms, Templates,Systems,Procedures • Library resources • Online Store Existing office space is lea
Competition:
The GSA/ Federal Government contract market is very large and continues to expand every year. The demand to create more agile and activity based work environments has increased the demand for more diversity in the contract furniture area. Furthermore, the urgent need for state of the art mission critical work environments has led to the company creating a unique offering for these type of environments. The Company differentiates itself by focusing on these market areas which requires the past experience in Project Management and Construction
Growth & Expansion:
The Company had an averaged accelerated growth of 71% in sales in the previous 4 years of operating and an averaged conservative growth rate of 24% in the previous 3 years. A calculated profit projection (available with signed NDA) provides an estimated return on investment by Year 3, for both a conservative and accelerated growth rate. The Company has options to source and fabricate some of its own brand of product for the 5 year TSA contract , which could increase profitability by 13% .
Financing:
Seller requires deposit, 50% at closing, termed balance
Support & Training:
Under a separate agreement, the buyer and seller will negotiate and agree to retain the seller’s owner for consulting and or a sales/ management position. The buyer will also have the option to engage each employee in an Employment Agreement. The seller will provide initial staff training and support for procedures, systems and processes.
Reason for Selling:
Started a commercial Project Management business for 2 sons.

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