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Upscale Contemporary Office Furniture Contract Manufacturer

CA

Seller Financing Available
Upscale Contemporary Office Furniture Contract Manufacturer
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Asking Price: $8,499,000

Cash Flow: $2,400,000

Gross Revenue: $16,200,000

EBITDA: N/A

FF&E: $4,800,000

Inventory: $3,300,000

Real Estate: $12,000,000*

Established: 1979

*not included in asking price.

Upscale Contemporary Office Furniture Contract Manufacturer

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Business Description

This well-established, family-owned company in California builds high quality eco-friendly corporate furniture and has an excellent customer service reputation.

They hold a very profitable niche that could be expanded to create a brand, and could be an amazing springboard to introduce other products/services to their affluent client base.

Their products range from workstations, reception desks, tables, office chairs, seating arrangements and case goods - all manufactured with high quality wood, plastics, metals and glass products.

They stand behind their work by offering repair, delivery, installation, reupholstering and project management services. This is a value-based company, putting faith in its work force and doing their part to minimize their impact on climate change through environmental sustainability.

The Company’s list of customers includes Fortune 100 companies such as Apple, Facebook, Google, Yahoo, Sony, Dolby, Abbott Laboratories, Netflix, and many others.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Owned
Not included in asking price
Building SF:
86,000
Employees:
120
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The property is owned separate from the company, by the owners. Sellers would like to sell the building or continue to own it and lease it out to the company. 86,000 sqft Building used for manufacturing, including a showroom, and warehouse. The property has docking space and a separate parking lot. Also located in Industrial zone already zoned for cannabis.
Competition:
Demand for office furniture is highly cyclical, fluctuating in response to macroeconomic trends such as office building construction, capital investment, and employment levels. As companies remodel work areas to include modern design features, such as open floor plans and collaborative work areas, to enhance company improvement and activity, furniture will be needed to outfit these new workspaces. The latest market research report by Technavio on the office furniture market in the US predicts a Compound Annual Growth rate (CAGR) of over 5% during the 2018-2022 period. According to another industry report published by Grand View Research Inc., The U.S. Office Furniture market is expected to grow 4.3% annually and reach USD 14.31 billion by 2025. Development of multi-functional furniture coupled with the adoption of online retailing methods in order to reduce the operating expenses involved in sales and distribution are anticipated to poise development in the industry through to 2025.
Growth & Expansion:
An expanding US economy and increased focus on work-space aesthetics have fueled the demand for luxury furniture across the US. A new trend in the office furniture market is the convertible workstations being offered by manufacturers. Corporates prefer a standing desk solution that can be used as a table top and can also be converted to regular sitting workstations as per requirement. One of the benefits of the standing meeting is that it goes on for a shorter duration and is more productive.
Financing:
Seller may provide limited financing to a qualified buyer
Support & Training:
The seller will stay to help the buyer throughout the transition and beyond to ensure a smooth change of ownership.
Reason for Selling:
Retirement
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Joseph Haimberg

Business Listed By:
Joseph Haimberg

Catalyst Business Brokers

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