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Wonderful business opportunity for this profitable family owned and operated, 52-year-old retail residential flooring company with a 2017 gross income of $871,900, plus undisclosed income, and a net yearly income of $119,400. The company offers the best flooring products topped with honest, personal and friendly service. They differ from big home centers because they focus their efforts and knowledge on floor covering only. They are true professional floor covering experts with competitive prices, personal service and quality installers. The company carries a complete line of products from the world's leading manufacturers. They offer hundreds of beautiful floors for every room - including solid and engineered hardwood, laminate, luxury vinyl, vinyl sheet, and vinyl tile. Their experienced staff assist each customer with professional service to match the design style, that best fits the budget and achieves the customer satisfaction. The company has a showroom conveniently located on a county road, close to a huge commercial mall and nearby to various state highways. The company has a wonderful reputation and a large customer base which creates repeated sales. They are known for their great selections, courteous, reliable service and convenient home service. This business has two employees plus multiple independent installers who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $3,500. The sale includes an assignable commercial lease with options, a monthly rent of $5,000, cost per square foot is $10.71 and rent security of approximately $7,500. As a retail business the company is active seven days per week, with hours from 10:00 am to 6:00 / 9:00 pm. The business has been valued at $299,000 based on a multiple of the net yearly income including the value of the specific business assets and seller financing is conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. The company also has on site an inventory of approximately $150,000 based on wholesale value. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a 33% investment return to the owner operator prior to debt service. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this business opportunity.
This attractive retail facility which consist of 5,600 square feet has a clean modern professional appearance. The business consists of a free-standing structure on an active avenue with many other active and successful retail companies. This business opportunity is in Northern New Jersey, Warren County, which consists of various highly populated and affluent communities with continued demand for this product.
The business presently has a basic marketing plan, and poor web site which can be improved to further develop the business gross sales. Additionally, further growth is possible by expanding relationships with building and commercial operations.
Competitors presently exist and to the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Owner is retiring after many successful years in this industry
The owner will remain post-closing to supply an appropriate transitional period to the new operator.
Available to qualified buyers.
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