90-Year-Old Appliance Store With Delivery/ Install
Relocatable, IA Johnson County
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- RE: 90-Year-Old Appliance Store With Delivery/ Install
- Contact: Not Disclosed
Quick Facts
| Asking Price: | $260,000 | |
| Annual Revenue: | $1,204,593 | |
| Net Profit: | Not Disclosed | |
| Cash Flow: | $79,807 | |
| Total Debt: | Not Disclosed | |
| FF&E: | Not Disclosed | |
| Real Estate: | Not Disclosed | |
| Year Established: | 1935 | |
| Employees: | 8 | |
| BBN Listing #: | 942733 | |
| Broker Reference #: | RTL015-G |
Business Overview:
The business operates out of two separate buildings. The first building has a designated area of 1,600 square feet for parts and service, along with a showroom spanning 2,000 square feet. The second building, which houses the appliances, has a total area of 4,000 square feet. The purchase of this business includes $471,327 in assets, which overcollateralizes the loan, including vehicles, trailers, equipment, inventory, and accounts receivable. The staff consists of a total of 8 members, including 1 service lead, 2 service technicians, 1 installation lead, 1 installation technician, 2 office managers, and 1 delivery assistant. With this well-established team in place, the seller is able to be a semi-passive owner, providing oversight and management support as necessary. As a show of good faith, the owner has offered 10% seller financing and will stay on board for 6 months-1 year transition. The loan is 100% over collateralized! Established over 90 years, this retail appliance business has an excellent local reputation and deep roots within their community. The business is near Iowa City and serves clients in various small towns within a 50-mile radius.
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Property Features and Assets:
Vehicles and trailers: $214,000
Equipment: $56,000
Inventory: $126,210
A/R: $75,117
Market Competition and Expansion:
The service aspect of the industry has exponential growth opportunities as this aspect of their business is unique to the area. Partnering with outside appliance sales businesses to offer appliance servicing could offer exponential growth.
Reason for Selling:
Moving on to next chapter in life
Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
Documents:
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