Closet Manufacturing Asset Sale of Building, FF&E

Raleigh, NC
Wake County

Commercial Park

Asking Price: Annual Revenue:
$500,000 Not Disclosed

Manufacturing: Wood, Stone, Concrete

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RE: Closet Manufacturing Asset Sale of Building, FF&E Broker: Jeff Snell
Owner Financing is Available!
Due to the present circumstances an all cash at closing transaction is desired.

Quick Facts

Asking Price: $500,000
Annual Revenue: Not Disclosed
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: $2,450,000
Year Established: 2006
Employees: 25
BBN Listing #: 98906351
Broker Reference #: CLOSET3

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Business Overview:

This popular franchised business is being liquidated and is NOT operating. Buyer may rehire available employees. The buyer may also elect to join the franchise system or operate on an independent basis. When operating, customers can choose between in-home, virtual and in-showroom appointments. This business offered clients a wide range of customized products and installation services (design/build) including custom closets, pantries, entertainment centers/media rooms, laundry and mudrooms, but also has solutions for home office, garages, wall-bed systems, as well as crafts/kids areas.

The business was founded in 2006 and has experienced steady growth since inception. It was purchased by its current owner in 2021. Initial franchise fee was $50,000. Transfer fee $18,500 and renewal fee is after 5 years is $7,000.(paid by Buyer if electing to join franchise).

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Property Features and Assets:

The business operated from the 12,000 square foot building owned by the business seller. The building is for sale only (not available for lease). The anticipated fair market value is $2,450,000 but will be sold at third party bank appraised value.

Market Competition and Expansion:

The business utilizes proprietary engineering techniques and in-depth salesperson training that result in a higher quality, longer lasting and more functional solution being delivered to the client. The result is happy customers who return for subsequent projects and refer their friends, family members and colleagues. Seemingly similar products are available from other "closet" companies and even big box retailers, but the overall fit/finish/functionality and quality are subpar and the overall offering of options is substantially smaller. In addition to the continued, annual growth of the Custom Home Organization market, this business also stands to increase sales as homeowners and businesses continue to adapt to working remotely with virtual meetings as a result of increased demand for optimized work spaces at home, home/offices and traditional work spaces. This business is well positioned to help potential clients become more efficient and organized in environments that are ergonomic and consistent with people’s desire to live and work in spaces that are welcoming, inviting and modern. Sustained population growth of the business area has helped bring a steady influx of new potential customers. Strong relationship with big box retailer.

Reason for Selling:

Lack of Operating Capital

Additional Details:

  • The property is owned.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This may become a franchise resale opportunity.

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