FilterQueen Vacuum & Air Filtration Manufacturer
Business Description
Filter Queen (Health-Mor) was founded in 1928 in Chicago, IL, and introduced the innovative FilterQueen vacuum with advanced filtration. Today, this 96-year-old company produces and assembles all FilterQueen Majestics Vacuums, Defender Air Purifiers, and filters for global distribution in Cleveland, Ohio.
Health-Mor and FilterQueen are seeking new expertise and leadership to expand our reach in marketing the world’s best air filtration and home cleaning systems in the 2024 global marketplace. While our strength lies in direct sales, we need new leadership in North America to take the company in an innovative direction. With a strategic marketing, sales, and distribution plan, FilterQueen Majestic's sales per day could double the company’s value. FilterQueen wants to sell this established product and brand to a leadership team that can bring fresh perspectives and open new sales channels that haven’t previously been offered to FilterQueen products.
Health-Mor and FilterQueen are seeking new expertise and leadership to expand our reach in marketing the world’s best air filtration and home cleaning systems in the 2024 global marketplace. While our strength lies in direct sales, we need new leadership in North America to take the company in an innovative direction. With a strategic marketing, sales, and distribution plan, FilterQueen Majestic's sales per day could double the company’s value. FilterQueen wants to sell this established product and brand to a leadership team that can bring fresh perspectives and open new sales channels that haven’t previously been offered to FilterQueen products.
About the Business
- Years in Operation
- 97
- Number of Employees
- 27
- Currently Relocatable
- Yes
- Facilities & Assets
- Building Type: Commercial
The facility is home to HMI World Headquarters and is approximately 68,000 sq ft, including offices (14,000), warehouses, manufacturing, and distribution (54,000). It was built in 2017 and is conveniently located near several major highways. The current lease expires on 1/30/2030, and the original lease does contain language regarding assignment and subletting. This facility can also utilize or modify the current manufacturing space to satisfy increases in production demand. - Website
- https://youtu.be/zPIyR2ycF1A
- Market Outlook / Competition
- The Next Chapter of Health-Mor
The current ownership team desires to sell its equity stake in FilterQueen (HMI) to a buyer who identifies the value in the Filter Queen brand and products and has the expertise to discover new distribution channels and markets for the Filter Queen vacuums and air purifiers to these markets while capitalizing on the current distributor channels which account for 68% of the recurring revenues. - Opportunities for Growth
- The FilterQueen products are some of the best and most durable vacuums and air purifying products today.
Recurring sales revenues account for 65% of sales. Profit margins range from 33% to 87%. If the right buyer could bring additional market distribution channels, Majestic Vacuum sales could easily increase by 10 units per day, annual sales revenue would increase by $4m, and air filtration and replacement filter revenue would naturally grow.
Real Estate
- Owned or Leased
- Leased
- Building Sq. Ft.
- 68,000
- Rent
- $39,346.25 per month
- Lease Expiration
- 12/12/2030
About the Sale
- Seller Motivation
- Owner wishes to retire after staying on to ensuring a smooth transition
Listing Info
- ID
- 2328980
- Listing Views
- 1345
Attached DocumentsAttachment Disclaimer
Listing ID: 2328980 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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