Hawaii Wedding Décor Rental

Business Overview:

The Company provides luxury decor rentals, creating beautiful and elegant weddings and other event settings on one of Hawaii’s tropical paradise islands. The rentals include a wide assortment of table linens, chairs, chair covers, draping, lighting, and other related accessories. The rentals offered are for customers desiring a refined and elevated feel for their weddings or other events. Weddings are over 90% of their event sales and about 60% of their wedding clients are visitors to Hawaii. Hawaii is one of America’s top destination wedding locations. The Company is long tenured and well established in the lucrative wedding market on the island, and they are known for providing excellent customer service, quality products, reliability, and timely execution on the day of the event. The Business is on the preferred vendors list for all of the major island hotels, which are major wedding venues in Hawaii. They have a large investment of rental and décor items (items like specialty linens, chairs, chair covers, etc.), plus all of the other tangible assets (furniture, vehicles, etc.) and intangible assets (trade name, website, customer contracts, etc.) which are included in the transaction. Their sales have grown over 66% from $488,000 in 2016 to $812,000

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Property Features and Assets:

Status: Leased, new location beginning August 2023.

Square Feet.: 2,955

Current Monthly Rent: $5,406 including CAM and HI GET; $64,872 per year; and $1.83 per square feet/month.

Lease Expiration Date: 5/31/2029

Renewal options: None, but they expect the landlord would be happy to renew.

Located close to customers and includes full warehousing and office facilities.

Market Competition and Expansion:

CUSTOMERS 90% of their customers are getting married and about 60% of these wedding customers are visitors to Hawaii. They have minimal competition in the market, and they differentiate themselves from the competition with excellent customer service from time of inquiry to the day of event execution, timely communication, on time for set ups & breakdowns on the day of the event, high quality products. They compete on price, service, date availability & product availability. EXPANSION OPPORTUNITIES Expand marketing and add the resources to take on more events and expand the rental offerings. They are turning down events now. To take on more events, they will need more employees to be hired to prepare items during the week and more employees would need to be hired for event execution on the day of the event (mostly weekends). There would not be a need to add more sales support.

Reason for Selling:

Relocation

Additional Details:

Documents:

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