13 Year Teak Furniture Restoration Service with Real Estate

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13 Year Teak Furniture Restoration Service with Real Estate
Asking Price:
$3,050,000

Gross Revenue:
$2,512,000
Cash Flow:
$460,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

Real Estate:
$1,700,000
included in asking price

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Business Description

13 year, absentee-owner niche luxury teak furniture restoration service. Upscale clientele. Recession proof. Repeat business. Stained teak makes the finest upscale outdoor furniture. Being outdoors in the elements, it quickly weathers. To maintain the fresh look it needs be refinished and re-stained annually resulting in lucrative repeat upscale business.

Stable long term sales growth. 5% Revenue Growth in 2017 versus 2016. Diversified customer base. The business has a full time General Manager that allows the present owner to frequently spend extended time out of the country. Because a mortgage payment would be equal-to or less than market rent, acquiring the real estate makes complete sense. During the Great Recession, the business continued to grow because of a trend to restore and repair rather than buy new.

The real-estate is a contemporary 18 year concrete tilt-up of 7,680 square feet located in a modern industrial park, with a lot size of 15,633 square feet that houses the entire staff and warehouse. Comps are provided with the business profile.

This is a high quality acquisition. The ask price for the business is $1.35M and the real estate is $1.7M. With a $370K cash down payment, at the asking price, the Buyer’s total annual debt service payments of principal and interest are $269,550. With the Adjusted Cash flow of $459,000 the new owner would net $459,000 - $269,500 debt service = $189,500 after debt service creating a cash-on-cash return on down payment of nearly 50% which is extraordinary with real estate included. The business summary contains more detail on the financing.

After returned NDA, we can provide a full 13+ page Business Summary with 3 year P&Ls and real estate comps that will answer 90% of your questions.

About the Business

Real Estate:
Owned
Building Sq. Ft.:
7,680
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Listing Info

ID:
1429683
Ad Detail Views:
841

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Business Listed by

Hoke Nagahori

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