Massive Regional Furniture Retailer - Virginia

Business Overview:

This large-scale regional furniture retailer was launched in 2013 and has been owned and managed by an experienced, successful entrepreneur who possesses over 3 decades in the furniture business. As a consequence, all of the success ingredients are in place for new ownership -- an excellent community reputation, loyal, regional customer footprint, deep industry know-how, excellent supplier relationships, an extensive product offering of quality, well-known furniture brands, and a helpful, courteous delivery team. All of this is marketed in a massive, comfortable facility loaded with ready-to-sell inventory. While all of the above is impressive, this business is also grounded on a customized, personal client interface that meets the furniture requirements of every room in the house or commercial space -- including dining, living, kitchen, study, recreation, bedroom, patio/pool, boardroom, training conference, or office -- all of which are supported by non-commissioned sales personnel and including free furniture delivery. The extensive inventory selection covers the full gamut of features, price, design, and variety to meet a broad spectrum of customer tastes. The results are impressive with 2023 top-line revenues of over $3.5M and bottom-line cash flow (after add-backs) of $539,000 ... which exceeds category average returns.

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Property Features and Assets:

The property includes two massive warehouse buildings, sales offices, an entrance foyer, a fully stocked customer lounge, fabric sample display rooms, and a children's play center.  The location is conveniently accessed to and from its regional customer base and features plenty of customer parking and a multitude of large garage doors/loading docks to facilitate the inflow and outflow of furniture.  The seller is offering an attractive $15,000/month triple net lease (Complete facility details are included in the Confidential Information Memorandum).   

Assets = $1,100,000

Market Competition and Expansion:

The retail furniture category is highly fragmented and companies compete on price, service, and delivery.  This business is a high volume, large-scale ($1M in inventory), and regional business model.  There are other large competitors in this space but the geographical distance provides some protection of margin and competitive density.  This business has built a loyal client base over the last decade and has grown top-line revenue 35% since 2020.  Their non-commissioned sales model, free delivery, extensive inventory, and highly customizable ordering process are competitive strengths. 

While the present results are impressive, there several identified growth options available to the new ownership:
1.  Hire additional sales personnel
2.  Implement social media marketing -- LinkedIn, Facebook, X, Insta-gram
3.  Enhance marketing budgets to targeted surrounding market areas
4.  Launch an internet selling model

Reason for Selling:

After 3 decades in the furniture business, the owner is ready to retire.

Additional Details:

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