Uniform, Apparel & Footwear Distributor
Location: Southwest > SW State
Industry: Wholesale and Distribution > Wholesale and Distributors
Financials
Gross Revenue: $7,300,000
Cash Flow: $650,000
Inventory: $1,589,000 (Included in Asking Price)
FF&E: $146,000 (Included in Asking Price)
Business Summary
An S Corp and has grown to a $6M/year multi-profit center company. The uniform division, with 60% of 2006 sales, is the Company's largest profit center, primarily supplying the oilfield industry with apparel and footwear. A retail division (37%) specializes in major brand work footwear, industrial work apparel, western and casual apparel, western boots, and school uniforms. The third division, the shoe truck, operates as a mobile retail store selling safety toe footwear to utility power plants, oilfield companies, paper mills, and other businesses. Plans are currently underway for expansion of the shoe truck, an innovative way of delivering footwear services directly to customers in the field, and the uniform division through better utilization of existing floor space and the existing customer database along with the addition of outside salespersons. Several unique systems are in place to allow the Company to accommodate its customer's needs, including the safety awards program that allows customers to make purchases while our client manages their employee safety points and awards redemption. Management is not aware of a competitor that offers this capability. The customer base is strong, with the oldest customer having a 29 year history with the Company, and is comprised primarily of oilfield companies and workers, cattlemen/farmers, and construction workers. Marketing is through reputation, word-of-mouth, direct mail, and our client's comprehensive website. Including active management by the 2 principles, the staff is comprised of 40 full-time, non-union employees who handle management, administration, service/production, warehousing/shipping, and sales. The Company operates out of a single 25,000 sq ft facility, consisting of a dedicated retail floor (15,000 sq ft) with the remainder (10,000 sq ft) divided between offices, production, and warehousing. The Company currently utilizes the entire building, however, the facility is expected to accommodate an increase in sales over the pro forma period.
About the Business
Year Established: 1916
Employees: 40 full time -
Facilities: 25,000 sq ft facility with room for expansion
Market Outlook and Competition: 10,000 active, recurring customers with no client comprising more than 10% of sales; Consistent historical growth rate in sales
About the Sale
Management Training and Support: Seller will train
Reason For Selling: Other interests
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