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Wholesale distribution business. Durable goods with existing customer base and established relationships.
Sioux Falls, SD
Lucas County, OH
Canyon County, ID
Yellowstone County, MT
Established with over 120 hydraulic and industrial hose distributors across the US. May be the only supplier of this type of product targeting the industrial distributors who are looking for crossover products to the automotive market. The potential for growth is great.
This is an exceptionally easy business to operate and manage. We sell all our distributors on open account, and never in our 11 years of operation have we had a bad debt. This business can be relocated to anywhere in the US
I am selling my business because my husband is retiring and we want to travel and be available for other activities. This is an excellent business for someone who wants to own his or her own company and generate a healthy income. It is not overly complicated and the product is genuinely helpful....20,000 sold and many letters of thanks and appreciation. We make one product in 5 variations. I invented the product as a gift for my grandmother and upon leaving my corporate role in 2006, created a business around this idea. Each unit is a hand held therapeutic comfort for those who are otherwise limited due to a variety of conditions but has really found its niche with the Alzheimer's and dementia population. Over 90% of our sales are to repeat wholesale customers who have their own business marketing products to this population and their care-givers. In addition, our own website allows us to retail the product and provide useful information about its use. It's also a means for new wholesalers to contact us. Sales have grown year over year and 1st quarter 2014 is up 147% over 1st quarter 2013. But this can/should be more than selling and shipping out orders. The community that this product gives access to is a wonderful, caring group of individuals. There are a growing number of conferences, workshops, magazines, blogs etc which the new owner can get involved with and enjoy!
Operations of the Company
This has been an easy "one person show". In 15-25 hours a week, I can take orders, pack and ship product and do the invoicing and banking. Once or twice a year it is necessary to place an order with the manufacturer (who will ONLY make this product for us). Each unit comes in a plastic zip bag, complete with hang tag and gadgets attached. I perform a quick quality control inspection, taking it out of the bag and ensuring everything is as it should be, before returning it to the bag. Currently all inventory is held in a local storage unit (which in Chicago is costly!). The space needed varies depending on inventory quantities but a 8' x 12' unit is usually satisfactory. The new owner may have a dry garage or basement which would work fine. Currently there are 4,500 units in stock but a new order has been placed for a further 2,400 so as not to leave the new owner short of popular products. Manufacturing from contact to delivery is ~ 5 months.
The inventory alone if sold at retail costs would generate $296,000 income and $193,000 if sold entirely wholesale.
2013 Revenue $125k
Expenses: Cost of Goods Sold: 46,700
Rent: 6,200 (home office and storage unit)
Labor: 55,000 (taken out as profit)
Shipping: 4,300 (buyer pays shipping in all cases)
TOTAL Expenses: $16,357 plus 'labor' payment
Asking price: 180k plus the 'at cost' inventory (which could be around 60-70k)
My Ideal Buyer
I envision the new buyer having come from a 'care/medical' background...perhaps at a corporate level. Maybe it's time to get out and be your own boss and you have some money to invest. You probably enjoyed working with colleagues and this business gives you and important role in a caring community. You are smart and mature but have a heart and will be touched by the personal responses of how 'this was the perfect gift for my grandparent'.
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