Business for Sale Overview:
Sale Pending: The company has designed and patented a self-storing socket wrench where the sockets are stored inside the handle. The appeal of this product is that it eliminates the loss of sockets and the need to have an entire ratchet and socket set in a bulky carrying case. An open-end wrench and hammer have also been designed and patented that utilizes the same concept, storing inserts and accessories in the handles. The Ratchet has been sold through promotional displays at Sears, Home Depot, Ace Hardware, Wal-Mart, Cosco, and Auto Zone to name just a few of the company's customers. In part due to the lack of additional products plus being a small company, the company has not been able to achieve shelf place on an ongoing basis, instead it has been limited to short term promotional displays at various times in the year (Father's Day, Christmas, etc.). Two more patented products, a wrench and a hammer, use the same concept and are in initial marketing. With the right buyer that has contacts and relationships with the big box retailers, it is believed the company's products can become very successful. The seller believes the right buyer will ultimately provide greater financial results to him in the future (with his retaining minority ownership or receiving royalty payments) than attempting to grow the business himself. A majority interest in the business is offered, free and clear of debt (except trade payables of $70,000 to be assumed by the buyer), for $450,000. The amount of minority ownership the seller retains or some type of additional deferred value through royalty payments, is open for negotiation.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
Facilities: None - all products outsourced and drop shipped.
Market Competition and Expansion:
Growth/Expansion: Needs better contacts with big box stores to gain shelf space.
Additional Details:
- The property is owned.
- The owner is willing to train/assist 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.
Resources: