SE Virginia -- Successful Hearth & Patio Furniture

Not Disclosed, VA

Hampton Roads

Asking Price: Annual Revenue:
$1,700,000 $1,355,898

Retail: Home Furniture & Furnishings

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RE: SE Virginia -- Successful Hearth & Patio Furniture Broker: Hal Feder

Quick Facts

Asking Price: $1,700,000
Annual Revenue: $1,355,898
Net Profit: Not Disclosed
Cash Flow: $341,305
Total Debt: Not Disclosed
FF&E: $50,000
Real Estate: $750,000
Year Established: 1977
Employees: 5
BBN Listing #: 13214955
Broker Reference #: 2008-17129

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Business Overview:

Located in the beautiful Hampton Roads peninsula of Virginia, this established, profitable, and successful home furnishings business has been warming clients homes and hearts since 1977. Whether inside or outside, throughout spring, summer, fall, or winter, this business features products that help transform a house into a warm, inviting, and comfortable home. The diversified product offering consists of both interior and exterior high-quality finishing touches, including gas, electric, and wood burning fireplaces/stoves, fireplace accessories, outdoor patio or pool furniture, hammocks, umbrellas, outdoor grills, and fire pits. No matter the season, this business features year-round product offerings to make your home more enjoyable.

During 2021, the business delivered a top-line revenue of $1,355,000 and over $340,000 in adjusted cash flow. There are a number of significant value drivers powering these impressive results -- superb brand name recognition & equity, long-tenured, award winning community relations, excellent high-traffic location with an impressive showroom facility, high-quality products presented by professional, knowledgeable sales personnel, a custom design process for whatever project that is on the drawing board, and at-home installation, demonstration, and a post-sale service reputation second to none in the marketplace.

The business model was founded on four proven, time-tested, and winning core values:

Expertise -- they understand the products they offer and develop client-centered solutions.
Integrity -- they value and promote honesty and transparency in all interactions with clients, staff, and suppliers
Quality -- they offer only products that work well, that are durable and long-lasting, and that satisfy a client's wishes
Service -- they provide expert guidance before, during, and after the sale ... and can service every product they offer.

This is a turn-key opportunity with all ingredients in place to enable returns from Day One. If you are looking for an established, profitable, well-known and respected hearth and patio home furnishing company ... this is your business.

FINANCING AVAILABLE. This business has been lender pre-qualified for up to 90% financing (for 16 years) on a combined business and real estate loan to qualified candidates subject to full underwriting. See term sheet in the Prospectus for additional details.

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Property Features and Assets:

This excellent business is being offered with equally attractive real estate property. The business is located on a very high traffic count major artery featuring restaurants, shopping centers, grocery stores, pharmacies, and other local retail establishments. The location is also close to major connector state highways and interstates which serves to expand the market area into one with a more regional dimension and reach. Included in the offering are two adjacent land parcels totaling 1.18 acres with approximately 270 feet of direct traffic frontage. The site houses an interior showroom with over 4,500 square feet of display space and a separate inventory storage area (1,125 square feet) including an additional 520 square feet of mezzanine storage. Together the building comprises over 5,625 square feet. The outdoor display area adds another 600 square feet of covered product display with an open large aggregate patio area. There is also two (2) conex storage containers on-site and access to an off-site leased warehouse space very close to the facility. Assets = $883,386

Market Competition and Expansion:

The Home Furnishings industry exhibits a low level of market share concentration. The four largest players in the industry are estimated to account for 29.9% of industry revenue in 2021. The remaining share of the market is mostly composed of small to midsize players that supply local demand. IBISWorld identifies the most important success factors for this industry are: Ability to control stock on hand: Operators need to ensure that adequate stock controls are in place to reduce inventory costs and increase stock turns. Proximity to key markets: Operators should be located in areas with high exposure to maximize exposure to consumers. Attractive product presentation: Operators should clearly display products in an appealing manner to promote purchases. Experienced Work Force: Since competition is fierce in this industry and customers often require help and advice regarding products, it is important to have highly knowledgeable staff. Effective product promotion: In this competitive market, the ability to inform customers of various deals and sales is critical to increasing store traffic. Due to long, established tenure, market-leading brand equity, low local market competitive density, and above average standing on all these key factors, this business is well positioned for continued success and growth versus its primary competition. Expansion of Geographic Focus Product Line Extensions (Pool Supply, Spa, Outdoor Lightning) Additional Marketing Resources Business Development Staffing

Reason for Selling:

Owner is retiring after 45 years in the business.

Additional Details:

  • The property is owned.
  • The owner is not 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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