Leading Furniture Retailer For Sale

Business description

The operation is a reputable, stable and growing business. It will appeal to a corporate buyer that recognizes existing synergies as well as private individuals who possess strong management and marketing skills. Well-trained and experienced employees will remain after the sale and current management will consider remaining with the company in a long-term relationship on terms to be negotiated.

The business assets, including real estate, inventory and goodwill, are valued at $3,400,000. (Cdn.) based upon financial statements dated April 30, 2006. At that date shareholders’ equity was stated to be $777,000. The transaction will be structured as a sale of shares with the price adjusted to reflect the balance sheet at the time of closing. A buyer should anticipate an equity investment of approximately $1,000,000. The sellers may consider financing a portion of the purchase price for an approved buyer on term and conditions to be determined by the sellers. Institutional lending will complete the transaction.

Property information

Location:

The company enjoys an enviable location on a 5.6 acre parcel of land on a busy highway on the out skirts of a major city. The site is considered to be prime development land. The 20,000 sq. ft. showroom and 8,000 sq. ft. warehouse were built in 1976 and have been well maintained. The site includes a large paved parking lot. The showroom is bright and displays are attractive and designed to encourage add on sales.

Other information

Expansion potential:

The owners believe that the business has to be promoted and marketed in other client services categories to further it’s growth.

Competition / Market:

This is a very well known and respected business in PEI and has been a major supplier of home furnishings to Island residents since 1968. There are other retail furniture stores, including national chain stores in the area however this business is an institution in the area and PEI still gravitates to and supports it’s own.

Support & training:

The owner is willing to provide some financing if required and the Primary Owners will stay for a prescribed period to provide an orderly transition.

Reasons for selling:

The owners wish to retire.

Financing available:

Seller prefers a sale of shares, however, he will assist in financing by holding a lien on the assets for as minimal amount as is required to complete the transaction.

Furniture / Fixtures value:

$2,025,000

Inventory / Stock value:

$619,044

Contact the seller

For more information about this business for sale, click the Contact Seller button.

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