Business Overview:
This business is priced at a low multiple of 2.75 with a fully collateralized loan! A 10% down payment of $68,000 returns $159,364 in the first year after debt payments – a 234% return on investment. With $650k in assets and $1.7M in backlog, this specializes in designing and producing office furniture for dealerships selling to mid to high-end offices nationwide. Products include reception stations, conference/boardroom tables, case goods, and custom storage. Established for over 20 years in Eastern Pennsylvania, they have seen year-over-year growth in sales since 2017. The highly skilled team includes 6 product/project engineers, 24 shop personnel (1 shop foreman, 2 department supervisors, 3 craftsmen, 4 machine operators, 3 crafts-people assistants, 2 sanders, 4 assembly, and 5 general labor), 1 bookkeeper, and 3 purchasing/customer service staff, plus several contracted independent territory sales reps. Four of their shop/department leaders have a combined total of over 120 years of experience. The two owners currently serve as President and Vice-President of the company; one oversees engineering & production, the other manages the sales division. The company operates out of a 30,000 sq. ft. manufacturing plant and 1,000 sq. ft. of office space.
All furniture is offered in veneer, wood, laminate, metal, glass, or stone, allowing ample opportunity for their clients to custom order exactly what they need for their office. Strong relationships with dealers in the area is an invaluable asset to this company. Hiring more sales reps, expanding to more dealers, and working to create a larger presence in locations like New York and Boston would certainly lead to continued growth.
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Property Features and Assets:
Lease: 30,000 square feet manufacturing plant + 1,000 square feet of offices.
Market Competition and Expansion:
Growth Opportunities: Hire more sales reps, expand to other dealers, create a larger presence in New York.
Reason for Selling:
Retirement/exit planning.
Additional Details:
- The property is leased.
- 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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