IOWA CITY, Iowa
| Asking Price |
$215,000 |
Year Established |
1930 |
|
| Annual Revenue |
$960,954 |
Reason for Selling |
Moving on to next chapter in life |
|
| Annual P/L |
|
Attention |
|
|
| Annual Cash Flow |
$65,279 |
Listing Number |
985091 |
|
| # of Employees |
8 |
Business Category |
Retail: Home Furniture & Furnishings |
|
Business Overview:
The business operates out of two standalone buildings. The first building has a designated area of 1,600 square feet for parts and service, along with a showroom spanning 2,000 square feet. The second building, which houses the appliances, has a total area of 4,000 square feet. The purchase of this business includes $250k in assets, which overcollateralizes the loan, including vehicles, trailers, equipment, inventory, and accounts receivable. The staff consists of a total of 8 members, including 1 service lead, 2 service technicians, 1 installation lead, 1 installation technician, 2 office managers, and 1 delivery assistant. With this well-established team in place, the seller is able to be a semi-passive owner, providing oversight and management support as necessary. As a show of good faith, the owner has offered 10% seller financing and will stay on board for 6 months-1 year transition. The loan is 100% over collateralized! Established over 90 years, this retail appliance business has an excellent local reputation and deep roots within their community. The business is near Iowa City and serves clients in various small towns within a 50-mile radius. While there are a few other competitor appliance stores in the area, very few offer installation and maintenance services, which sets this business apart from its competitors. Priced at $215,000, the buyer needs less than $30,000 cash down!
Property Features and Assets:
<p>Assets Included in Purchase: $257,000<br></p>
Market Competition and Expansion:
<p>The service aspect of the industry has exponential growth opportunities as this aspect of their business is unique to the area. Partnering with outside appliance sales businesses to offer appliance servicing could offer exponential growth<br></p>
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity