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This business has been operating for twelve years. The owner is considering retirement within the next few years, but is prepared to manage through a considerable transition period. The main business is a wholly owned foreign enterprise (WFOE) established eleven years in China, properly registered and profitable with no debts, loans or other encumbrances. Annual sales are around USD2.5m and profit is around USD350k per year. Would consider selling group as a package with Hong Kong company (est. 11 years) and Australian company established 22 years. Clients in Japan, Australia and NZ. Currently re-orienting the company to more domestic sales because there is enormous opportunity in that sector. We produce flooring, decking and furniture and have been located in the same factory from the outset. This factory can be expanded.
Stock, equipment and cash to the value of approximately USD2m. Realistic about price. The advantage of this business is that it is well established. We have spent a lot of money on branding and have a terrific reputation as a high-end producer. The hard work of set-up has been done and there are excellent prospects for growth, particularly in the domestic market. Within one hundred and fifty kilometres of the factory are over 80 million urban consumers and this is the richest part of China. There is no need for major re-investment and income stream is solid with an established and diverse client base.
Work force of about 30 including office staff of three. Very stable with good and dedicated managers. Morale and company culture is excellent.
2 years left on lease. Can be extended.
$150,000 (USD) per annum
Huzhou City, Zhejiang Province. 1.5 hours from Hongqiao Airport, Shanghai
Total leased area of about 6,600m2 of factory and warehouse area.
Two further floors available totalling another 3,000m2. Would be suited to furniture or parquetry production.
The city in which we are located is a wood production cluster. The advantage of this is that experienced labour, machine maintenance and auxiliary services are readily available. Of course, it means intense competition too, but we are in a niche market catering for high-end customers. We aim to generate maximum profits from modest turnover, which insulates us against market shocks to some extent. Covid 19 is another story, of course, but we expect to weather it.
I am 65 years old and my wife is 61. We are not in any hurry to move on, but we have to be realistic about how long we can continue with the energy levels required to keep developing the business. Our kids have their own careers and our workers are not in a position to do an MBO.
8:00 am to 5:00 pm
Willing to remain on modest salary for about two years by negotiation.
We would accept a partial payment with the balance over a number of years, subject to conditions.
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