Profitable Furniture Store: $242K Net Profit with $1.47 Mil sales/yr

Greenville, NC (Pitt County)

Store Front
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Asking Price: Get Financing: $627,000

Cash Flow: $774,036

Gross Revenue: $1,470,000

EBITDA: $242,000

FF&E: N/A

Inventory: $395,000*

Lease Rate: $13,000 /Month

Established: 2005

*not included in asking price.

Profitable Furniture Store: $242K Net Profit with $1.47 Mil sales/yr

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Business Description

$1.47K 2017 annual gross sales/$242K Net profit/Asking price $627K

Profitable Furniture Store: $242K Net Profit with $1.47 Mil sales/yr.
Greenville, NC

Established in 2005 by the current owner and located in one of the fastest growing cities in North Carolina. Greenville ranked as the fourth fastest growing cities in the northeast, and it shows in our sales. The 2017 fiscal year produced $1,470,000 in gross sales. The 41,000Sqft location is incredibly spacious, allowing for the expansion of appliances (washer & dryers) and electronics, potentially increasing your sales by nearly $500,000 per yr. We sell mid to mid-high-end furniture brands that have a track record of a fast turnaround. Financing to our customers is done through Credit and No Credit Needed financing companies which is approx. 35% of the sales. We have built a well-known establishment with a respected reputation, hired a reliable staff with excellent customers service.
The inventory varies month to month and the estimated current value is approximately $395K. Please check out our reviews on Google; Mack's Furniture Warehouse, Greenville NC. Professional website that brings consistent traffic to the store. www.mackswarehouse.com.

Summery.

• Est. 2005
• $1.47K 2017 annual gross sales
• $242K Net profit
• Asking price $627K (goodwill) Not including inventory nor real state.
• 41K Sq. Ft ($3.80 per sq. ft/year), $13,000/month rent
• Potential increase w/including Appliances and Electronics
• Fast Turnaround with Mid to Mid-high-end furniture
• Finance options for customers
• Current Inventory approx. $395K
• SERIOUS BUYERS ONLY. MUST SIGN NDA, PROVIDE FINANCIAL STATEMENT AND BANK THREE MONTHS CURRENT BANK STATEMENTS.

Products & Services
Furniture including but not limited to Bedrooms, Dining, Living room,
Rugs, Mattress, and other Interior Accessories

Asking price is $627K for the business (goodwill) not including inventory nor Real Estate. The Real Estate is available at fair market. Please specify if interested.
I started this business years ago from ground up to what it is today. Serious inquires only. As being the landlord of the building, I will assist with the transition of new ownership. I love this business and only want it to grow, succeed to the next level under the new ownership.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
41,000
Lease Expiration:
10/1/2023
Employees:
11
Facilities:
Asking price $627K (goodwill) Not including inventory nor real state.
Competition:
Greenville ranked as the fourth fastest growing cities in the northeast, and it shows in our sales.
Growth & Expansion:
The 41,000Sqft location is incredibly spacious, allowing for the expansion of appliances (washer & dryers) and electronics, potentially increasing your sales by nearly $500,000 per yr
Support & Training:
I will assist with the transition of new ownership
Reason for Selling:
New opportunities identified elsewhere
Business Website:
http://mackswarehouse.com
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Business Listed By:
Mack Taha

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