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Asking Price:	$100,000 USD USA Dollars
Business for Sale Industry:	Retail: Non-classifiable
Reason for Selling:	Retirement
Year Established:	1987
# of Employees:	1 Part Time, 3 Full Time
Yearly Revenues:	$390,892
Yearly Cash Flow:	$52,167

Business for Sale Overview:

The Foam Source is a retail foam and fabric store with in-house sewing and upholstery workroom. The Foam Source is one of the local leaders in marine upholstery supporting the needs of the thousands of boat owners in the Puget Sound area. Over half of the work is residential and Recreational Vehicle, reupholstering chairs, cushions, and mattresses. The business is run with 3 seamstress’s one being the owner. The business is currently located on a prime corner of Highway 99 and leased 1,700 square feet. In 1995, a doorway to an adjoining building was installed increasing the much needed space 1,300 square feet. The Foam Source has been owned and operated for nearly 22 years under the same owner. In January every year the company has a booth at the Seattle Boat Show where 50% of business comes. The marine sales are advertised under the registered name Sea Foam Yacht Interiors.

Property Features and Assets:

The Foam Source has 3,839 square feet in a strip mall on a major highway with excellent exposure. The showroom consumes .25 of the space, while the remaining is workspace. This includes 2 bathrooms, storage and an employee lounge. Delivery access is through 2 separate back loading doors. The current 5 year lease is approaching the end, though an excellent relationship has been established with the landlord which has offered another 5 year lease.

Market Competition and Expansion:

Steady growth has continued over the 22 years of business. Increased opportunities are available with Recreational Vehicle, automotive, small boat and a growing need for specially shaped or cut foam for medical and mobility demand. Currently requests for work on large furniture is sub-contracted, a new owner could retain this business. Statistics show 1 in 4 residence of Puget Sound own boats. There is a good referral business from local big box stores, Recreational Vehicle dealers and related business as most do not carry large pieces or the variety. The business has an excellent reputation for service, on-time delivery and perfect fit.

Additional Details:

• The property is leased.
• The owner is willing to train/assist the new owner.
• The owner is not willing to work for the new owner.
• This is not a homebased business opportunity.
• This is not a franchise resale opportunity.
• This is not a distressed business or bankruptcy situation.