Business For Sale

Closet and Room Organizer Business Opportunity

Not Disclosed, MI
Kent County


Asking Price: Annual Revenue:
$366,000 $800,000

Retail: Home Furniture & Furnishings


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RE: Closet and Room Organizer Business Opportunity Broker: Mike Greengard

Quick Facts

Asking Price: $366,000
Annual Revenue: $800,000
Net Profit: Not Disclosed
Cash Flow: $160,000
Total Debt: Not Disclosed
FF&E: $75,000
Real Estate: Not Disclosed
Year Established: 1982
Employees: 5
BBN Listing #: 470731216
Broker Reference #: MG1091318

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Business Overview:

It has been a great 32 year run for the founder-owner-seller of this successful West Michigan design and build business which specializes in maximizing space in and offering attractively designed installations for closets, basements, garages, laundry rooms and the like. The seller is now at retirement age and looks forward to transitioning his business to only its second owner-operator.

The business operates out of an attractive 4,000 square foot facility which efficiently combines showroom, offices, a shop, and warehousing area. The facility, conveniently located just minutes from a major highway, is owned by the seller who will lease the space for $24,000 annually, a very attractive 3.0% of revenues.

This company has an outstanding business model based on purchasing inventory from a major supplier of prefabricated laminated wood veneer components. The business maintains a regionally exclusive relationship with this key supplier. As a result the company has no need for either specialized woodworking equipment or expensive skilled woodworkers. The company has five full-time, well-paid, non-union employees involved in sales, fabricating, installation and clerical functions.

The business has a four year weighted average of revenues exceeding $700,000. The past 18 months the business has had annualized revenues of nearly $800,000. Over that same 18 month period, annualized SDE (seller’s discretionary earnings – the historical normalized cash flow available to pay an owner-operator and service debt) has been an impressive $160,000. The business is being offered for $366,000, a favorable 2.3x multiple of SDE. The sale price includes (a) all fixed assets (including three vans) with a combined asset value of $75,000; (b) $25,000 of inventory; and (c) the goodwill of the business. The seller contemplates an asset sale in which he retains cash and A/R while retiring all liabilities. The seller plans to offer a high five figure seller note to a qualified buyer.

As part of the purchase price, the seller will offer both transition training and review of a number of approaches for rapidly growing the business. For more information on this value priced, cash flowing business, please contact Mike Greengard.

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Property Features and Assets:

4,000 square feet facility which efficiently combines showroom, offices, a shop, and warehousing area. The facility is located just minutes from a major highway.

Reason for Selling:

Retirement

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.

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