Upscale retail furnishings and accessories.

Richmond, VA (Henrico County)

Upscale retail furnishings and accessories.

Asking Price:$515,000

Cash Flow:$115,000

Gross Revenue:$1,050,000

EBITDA:N/A

FF&E:$75,000

Inventory:$61,500

Established:2000

Upscale retail furnishings and accessories.

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Business Description

This is a well established, successful and profitable upscale furniture retailer. They sell primarily upholstered sofas, chairs, loveseats, sectionals, and some accessories, by placing orders from the floor samples. All sales are special orders, and are delivered to the customer within 4-6 weeks. The company offers furniture only from leading, highly respected manufacturers, including Rowe, Braston-Culler, Pallister, England, Four Seasons, and Lancer. The business operates on a low advertising budget, consisting primarily of newspaper, special promotions, and closeouts; also internet and yellowbook.com. Most sales come from repeat customers, walk-in traffic, and word of mouth.

Detailed Information

Inventory:
Included in asking price
Employees:
3
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Building is 5,300 SF of retail splace in great location- heavily trafficked area of West Broad. Plenty of near door parking- great visibilty from street- building in near new condition.
Competition:
There are other retail furnishing stores in the general vicinity, though none with with breadth and scope of manufacturers that this store has. Also, great prime location.
Growth & Expansion:
The business has grown and expanded nicely over the past 7-8 years primarily by providing outstanding customer service. One aspect of this is the program of attracting loyal interior decorators to generate sales by offering them a 10% commission of the sale upon full payment of their customer. Further incentives to the interior decorator communtyt could expand sales to their customers.
Financing:
seller will consider some financing for qualified buyer.
Support & Training:
Seller will stay on as required to provide successful transition.
Reason for Selling:
Seller is moving, and going in a new direction.

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George C. Norman

Business Listed By:
George C. Norman

Berkshire Hathaway HomeServices Towne Realty

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