Appliance Retail with Service & Installation

Iowa City, IA
Johnson County


Asking Price: Annual Revenue:
$290,000 $963,602

Retail: Home Furniture & Furnishings


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RE: Appliance Retail with Service & Installation Broker: Cortney Sells
Owner Financing is Available!
10% Seller Financing

Quick Facts

Asking Price: $290,000
Annual Revenue: $963,602
Net Profit: Not Disclosed
Cash Flow: $77,159
Total Debt: Not Disclosed
FF&E: $210,993
Real Estate: Not Disclosed
Year Established: 1929
Employees: 11
BBN Listing #: 334134398
Broker Reference #: RET058

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Business Overview:

90 years of serving Iowa City area with 10 service trucks! With a staff of 7, this one-stop-shop is for all home appliances and installation! With nearly $1MM in sales and over $500,000 in assets, this shop offers comprehensive retail and service offerings. Established in 1929, this business has a retail location that sells all major home appliances and parts in addition to on-site repair. They also sell, install, and service plumbing, electrical, HVAC, water heaters, water filtration and more. The bank loan is even over collateralized.
Currently, the largest sales are in HVAC installation and home appliance retail sales. Five full-time staff with a crew of licensed HVAC technicians, electricians, and plumbers add value to this operation for installation and service contracts in a 35-mile radius of their location. The owner is willing to assist with a 90-day transition period and would be willing to consider further employment to aid in the transition.

The $1,824/month lease includes 2 buildings: a 2,000 sq. ft. showroom, 1,600 sq. ft. service/parts, 2,000 sq. ft showroom with. second-floor storage, and a separate 4,000 sq. ft. warehouse. The installation and service team have an entire fleet of specialized vehicles.

Equipment: $31,275

Vehicles: $179,718: Service vans & trucks (10)

Inventory: $129,181

A/R: $85,000 Pipeline: $30,000

Backlog: $89,000

Intangible Assets: Solid reputation, long history

*amounts may vary

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Property Features and Assets:

Lease: $1,824/mo. Building 1: 2,000 sq. ft. showroom, 1,600 sq. ft. service/parts, 2,000 sq. ft. 2nd-floor storage; Building 2: 4,000 sq. ft. warehouse

Market Competition and Expansion:

Location and Service Area: Iowa City, IA area Demographics: Several large communities with a 35-mile service area Services: Retail home appliances, parts (36%), Installation and service of plumbing/ water heaters, filtration (15%), electrical (6%), HVAC (39%), misc. (5%) Growth Opportunities: Open Sunday for retail; add monthly maintenance on all sold appliances

Reason for Selling:

Divestment

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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