This business has been operating for over twelve years. It is part of a group of three companies, the others being in Australia and Hong Kong. The three companies operate as a group, with the Australian company being the oldest, having been established in 1997. 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 have averaged around USD2.0m and profit is around USD250k per year. Would consider selling the group as a package. All three companies are debt free. 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 and reputation building has been done and there are excellent prospects for growth, particularly in the domestic market. Within one hundred and fifty kilometers 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. Revenue this year has taken a hit, but we are debt free and will turn a small profit in 2020. We are currently looking at opportunities in a specialized higher value-added market, which we are very positive about. Trading is also highly prospective using this company as a base.
Work force of about 25 including office staff of three. Very stable with good and dedicated managers. Morale and company culture is excellent.
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