Profitable Furniture Store: Buyer Benefit $298K
Syracuse, NY Onondaga County
Near huge planned Micron plant
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- RE: Profitable Furniture Store: Buyer Benefit $298K
- Contact: James Hickey
Quick Facts
| Asking Price: | $154,000 | |
| Annual Revenue: | $640,970 | |
| Net Profit: | $48 | |
| Cash Flow: | $59,298 | |
| Total Debt: | Not Disclosed | |
| FF&E: | 10,000 | |
| Real Estate: | Not Disclosed | |
| Year Established: | 1974 | |
| Employees: | 4 | |
| BBN Listing #: | 769159951 | |
| Broker Reference #: | Not Disclosed |
Business Overview:
This business imports and retails contemporary and Scandinavian furniture and furnishings from Scandinavia, Europe and Southeast Asia. They also source from the US, Canada and Mexico and operate in a 10,900 square foot building located at a high traffic location in a suburb of Syracuse NY. The business also carries lines of high-quality mattresses, lamps, rugs, works of art and gift ware. Their customer base is a highly educated, discerning and affluent people, who are looking for a better quality, aesthetically pleasing home and office furnishing at a value price.
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Property Features and Assets:
The building is owned by the seller. It is a 10,937 square foot two-story with an open balcony in the front and includes an 800 square foot one-story warehouse in the back. It is located on a high traffic commercial location with multiple national chain stores and restaurants nearby. The owner is willing to offer a below-market lease for a location that is minutes away from the $31B Micron Technology plant. The building was renovated just a few years ago, and it has a showroom that is first-class displays of their high-end inventory.
Market Competition and Expansion:
The local market is robust, and the expected influx of well-paying jobs and growth provided with the expected expenditure of $100 Billion dollars from the Micron Technology plant, one of three plants which is under construction. Local news has reported that over 40,000 people will be employed by this huge microchip plant, plus an additional 9,000 jobs from ancillary suppliers which will fuel growth in the area for many years.
Reason for Selling:
Retiring
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is a homebased business opportunity.
- This is not a franchise resale opportunity
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