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This profitable retail flooring business has a history of success and growth. Sales are steady year-round with some cyclical fluctuation. Revenues have seen steady growth over recent years, with that growth accelerating from 2019 to 2020. The company sells and installs all types of flooring and related goods & services. The customer base is primarily residential, and the business serves a market that has well above average household income. The company has an excellent team of experienced staff.
Real Property Included
The business’s showroom is spacious, has an efficient layout, is well lit and is meticulously kept. Product samples are regularly updated to stay up with trends, providing for opportunity for upsale. The facility includes on-site warehouse and production space. There is more than adequate parking and room to expand. The location is convenient, within 25 miles of approximately 30% of Maine’s total population, and on a well travelled road. The real estate as well as the business is for sale.
Current ownership believes revenues, and particularly profits, could be increased in a number of ways, including: a) more sophisticated pricing strategies to better align the company’s goods & services with current market pricing; b) the addition of an outside sales professional to target the professional builder segment; c) updated technological systems to increase efficiencies, particularly in regards to job estimating; and d) the development of a more robust marketing plan.
The business serves a geographic market that is both strong (median income 20% > State average) and growing (sales of primary product line estimated to grow 20% over the next 5 years), providing an attractive opportunity for future revenue growth. The competitive landscape is split between the big box stores and smaller independent retailers. The company is successful because it provides customized goods and services not generally available from competitors, ensuring that the business’s customers get a completed project they are happy with.
Owners’ desire to focus on other pursuits.
Seller will provide transition training for a new owner.
Seller, Bank Financing & Down Payment TBD. Working Capital Needed $125,000.
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