Home Appliance Store w/ Install Division

Iowa City, IA (Johnson County)

Seller Financing Available
Home Appliance Store w/ Install Division
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Asking Price: $269,000

Cash Flow: $77,159

Gross Revenue: $963,602

EBITDA: N/A

FF&E: $210,993

Inventory: $129,181

Established: 1929

Home Appliance Store w/ Install Division

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Business Description

10 trucks, over $120,000 in inventory and $90,000 in orders! With a staff of 7, this one-stop-shop is for all home appliances and installation! With nearly $1MM in sales and over $500,000 in assets, this shop offers comprehensive retail and service offerings. Established in 1929, this business has a retail location that sells all major home appliances and parts in addition to on-site repair. They also sell, install, and service plumbing, electrical, HVAC, water heaters, water filtration and more. The bank loan is even over collateralized.

Currently, the largest sales are in HVAC installation and home appliance retail sales. Five full-time staff with a crew of licensed HVAC technicians, electricians, and plumbers add value to this operation for installation and service contracts in a 35-mile radius of their location. The owner is willing to assist with a 90-day transition period and would be willing to consider further employment to aid in the transition.

The $1,824/month lease includes 2 buildings: a 2,000 sq. ft. showroom, 1,600 sq. ft. service/parts, 2,000 sq. ft showroom with. second-floor storage, and a separate 4,000 sq. ft. warehouse. The installation and service team have an entire fleet of specialized vehicles.

Attached Documents


Detailed Information

Location:
Iowa City, IA
Inventory:
Included in asking price
Employees:
7
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Lease: $1,824/mo. Building 1: 2,000 sq. ft. showroom, 1,600 sq. ft. service/parts, 2,000 sq. ft. 2nd-floor storage; Building 2: 4,000 sq. ft. warehouse **The Firm Business Brokerage is not a real estate brokerage and therefore the staff will not handle any aspect of the lease, sale or purchase of real estate.**
Competition:
Location and Service Area: Iowa City, IA area Demographics: Several large communities with a 35-mile service area Services: Retail home appliances, parts (36%), Installation and service of plumbing/ water heaters, filtration (15%), electrical (6%), HVAC (39%), misc. (5%)
Growth & Expansion:
Open Sunday for retail; add monthly maintenance on all sold appliances
Financing:
10% Seller Financing
Support & Training:
3-6 months
Reason for Selling:
Retirement
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(from currently available funds)
 
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Cortney Sells

Business Listed By:
Cortney Sells

The Firm

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