Profitable Furniture Store with $1.7Mil sales/yr

Greenville, NC (Pitt County)

Profitable Furniture Store with $1.7Mil sales/yr
Contact Seller

Asking Price: N/A

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Established: 2005

Profitable Furniture Store with $1.7Mil sales/yr

Save Print Share Valuation Report

Business Description

Profitable Furniture Store $1,700,000 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 2018 fiscal year produced $1,700,000 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 customer service.
The inventory varies month to month and the estimated current value is approximately $395K. Please check out our reviews on Google; Furniture Warehouse, Greenville NC. Professional website that brings consistent traffic to the store. www.mackswarehouse.com.

Summary

• Est. 2005
• $1,700,00 2018 annual gross sales.13% higher than 2017.
• Sales is currently 29% higher than 2018 ( $1,068,000)
• $242K Net profit for 2018
• Asking price $395K (goodwill) Not including inventory or real estate.
• 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 $427K 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

Location:
Greenville, NC
Employees:
10
Facilities:
forklift, furnished office space with computers and printers already updated with the POS system(Furniture Wizard), delivery trucks, and all other necesities required to run the business efficently.
Competition:
After 14 years of business, we have developed a strong reputation as the place in Greenville to find the best deals on furniture. With the largest showroom in town, we are able to offer a huge variety of different styles, brands, and options for our customers. For a better insight on our reputation, take a look at our google reviews.
Growth & Expansion:
For the for the past 3 years we have seen a 10-15% increae in sales. This year we are as of July 28th, our sales are 29% higher than our 2018 sales numbers. By adding washers, dryers, as well as other electronics and appliances (TV's, Refrigerator), you could add an additional $500,000+ to your sales each year.
Support & Training:
Seller prefers a buyer with previous furniture experience. However, if you are an investor trying to relocate and looking for a profitable business with a secure profit, we will be more than happy help you transition into becoming a fully independent furniture retailer.
Reason for Selling:
Shifting my focus towards Real Estate
Business Website:
http://mackswarehouse.com
Contact Seller

Business Location


Contact the Seller

Contact Seller Loading

Business Listed By:
Mack Taha

Show Phone Number

Listing Statistics

Unlock

Demographic Information

Unlock


Ad#:1660038 Report an issue with this listing

The information in this listing has been provided by the business seller or representative stated above. BizBuySell has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness.
Read BizBuySell's Terms of Use before responding to any ad.


Similar Listings


Signarama

Franchise Opportunity
Cash Required: 49500