New Price and Terms- Hardware Store- East TN

Unicoi, TN (Unicoi County)

Seller Financing Available
Hardware Store For Sale Unicoi, TN

Asking Price:$450,000

Cash Flow:$90,000

Gross Revenue:$561,000

EBITDA:N/A

FF&E:$15,000

Inventory:$175,000

Real Estate:$250,000*

Established:1981

*not included in asking price.

New Price and Terms- Hardware Store- East TN

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Business Description

Nice Business, Great Community, at a Great Price! Check It Out!

Hardware stores are a great family business opportunity. Stores serving more rural markets also tend to be insulated from big box retail competitors or even saturation by too many small operators.

Offered is a hardware store that has been under current ownership since 1991 and has offered the owners many pleasant memories and lots of friends. Retirement creates an opportunity for someone to acquire a profitable hardware business in a great location with several opportunities to boost annual sales and profits. This business is priced in line with industry benchmarks and multiples.

The real estate is available and can be acquired by purchasing in addition to the business or it can be leased under very reasonable lease terms. Check out this business opportunity and consider the benefits of owning your own community hardware/general store in a great place to raise a family.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Owned
Not included in asking price
Building SF:
3,750
Employees:
4 FT, 2 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
3,750 square foot retail building with lots of covered front canopy for protection of seasonal merchandise. Second structure houses hay bales, large feed bag inventory, and bulk storage. Retail building is partition with approximate 75% devoted to display and retail operations and 25% used for back-up inventory and tow motor storage. There is a separate area for office next to the check out area. Building is structurally sound. Would benefit from selected cosmetic updating. Lease will be $3,000 per month triple net. Seller would agree to lease with option to purchase for $4,000 per month. $1,000 of each month's lease payment will be credited toward the purchase price. If lease purchase is elected by buyer, schedule will be based on 20 year amortization of purhase price with interest at 5.5%.
Competition:
There is little immediate competition; this makes this business opportunity a wise choice to consider. Owner operated hardware stores have proven their ability to compete by focusing on exceptional customers. The current emerging trend of big box stores struggling due to poor customer service is an advantage for a good small store operator. This store meets or exceeds some of the desired industry benchmarks. Abundant opportunity exists for new owners to increase business significant through improved utilization of technology, merchandise revamping, and perhaps affiliation with a national co-op like Ace Hardware, True Value, and similar industry retailing cooperative models.
Growth & Expansion:
This business has several major opportunities to grow. Resetting the merchandise mix and selection offers the greatest first round potential. Development of a website and use of social media to promote the business would be another strong improvement. The inventory should be bar coded to tied to a point of sale system to allow long term tracking of inventory turn and possible reduction of capital being tied up in inventory. Today's suppliers network is extremely time responsive and can help negate the need for keeping inventory depth as deep as current.
Financing:
Cash at closing. Perfect canidate for SBA.
Support & Training:
Will to assist with transition for two weeks. Supplier representative will be available to assist with new owner learning merchandise ordering and turnover tracking.
Reason for Selling:
Retirement.

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Ramon Sanchez-Vinas

Business Listed By:
Ramon Sanchez-Vinas

ValueSource Business Advisors

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