Leading Fiber Arts Equipment Mfr.

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Worldwide leader for design/manufacture of Knitting and Spinning tools
Asking Price:
$235,000

Gross Revenue:
$450,000
Cash Flow:
$93,000
EBITDA:
$93,000
Inventory:
$35,000
included in asking price

FF&E:
$5,000
included in asking price

Real Estate:
 Not Disclosed

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Business Description

A family run business since the year 2000. The company develops and manufactures highly innovative and functional tools for both the knitting and spinning industries. These tools include heavy duty commercial grade equipment which is used by yarn shops, fiber arts companies, professional fiber artists as well as consumers. In addition, we offer a broad line of smaller tools that provide a high degree of functionality and which solve problems for fiber artists.

We were able to develop many of these tools as a result of using Nancy's extensive knowledge of a variety of the fiber arts. Just as importantly, we have always insisted on designing and manufacturing high quality products that would last and which would solve specific problems for fiber artists. As a result, our products and our brand name are internationally recognized as being among the very best in the industry.

The company designed the vast majority of its products internally and has also utilized professional engineers and suppliers to help provide the very best solutions. We combine wood, metal, plastic, and electronics to develop the best overall products for our customers. Our many highly competent and longstanding suppliers are located primarily in the USA. They produce the major components for the company to our specifications and we do the final assembly and test as well as fulfillment from our facility in North Carolina.

We have written 2 booklets which assist fiber artists. We have also developed tools with a leading mfr. in the industry for which we receive royalties. Although we have secured provisional patents in some cases, we have chosen to depend more on developing product families which have created "barriers to entry" by using overwhelming product force that no one else can offer in this space. This strategy has worked well in this market as evidenced by the fact that we have very little serious competition in most areas.

Our electronic metering systems are among the best in the industry. When combined with our winding systems, there is no other company in the entire industry that can match our offerings which is why we are the winder company of choice in commercial and professional circles.

We offer products in the following areas
:
-Ball Winders - (manual and motorized)
-Yarn Swifts and Skein-winders - (manual and motorized)
-Yarn Meters - (manual and electronic)
-A wide variety of knitting tools - all very innovative and unique
-Tools for Spinners - Lazy Kates, Niddy Noddies and other tools
Please view our online store at www.nkkshop.com to see all of our products

Our products range in price from $3.50 to upwards of $2,000
Average order value = $200

Our sales break down roughly as follows:
-Wholesale, Retail and Professionals - 30-35% for each category
We have a fully operational Shopify online store (90% of sales are done online - some large wholesale accounts order by email or phone direct).

The Buyer has many choices in terms of how they can own and operate this business. The buyer may choose to:
(1) relocate the operation to his or her facility
(2) procure finished goods from NKK's primary contractor on a short term or long term basis
(3) subcontract the entire operation to the primary contractor
(4) hire one or two people to run the operation for them within the existing primary contractor's facility

Opportunity of a lifetime - It is not very often when a buyer of a small company can easily purchase the number one position in a global market but it is possible right now with the purchase of Nancy's Knit Knacks. We truly believe that with some new and fresh ideas and a more expansive advertising and social media presence, that a new owner of the company could easily increase the overall sales volume dramatically given NKK's existing excellent brand name and product performance and quality.

About the Business

Location:
Catawba County, North Carolina
Year Established:
2000
Number of Employees:
1
Relocatable:
Yes
Facilities:
Assets consist of inventory, field proven product designs, documentation, fully approved suppliers, limited tooling, manufacturing licenses, and exceptional product knowledge and experience in handling and measuring yarn. The company rents space at this time and has no facilities of its own.
Website:
nkkshop.com
Market Outlook/
Competition:
A worldwide market exists for our products. Approximately 30% of our tools are shipped internationally. Competition is limited and does not significantly compete against our products. In a number of cases we are the number one supplier and the only supplier of commercial grade tools in these areas. Our product's superiority virtually caused the leading Japanese supplier to terminate its operations. We operate in a niche market where we typically hold the top slot.

NKK is In the process of increasing prices which will further improve margins.
Growth & Expansion:
We experienced strong growth from 2002 - 2016 reaching peak sales of $550K. As the economy continued to feel the effects of the 2009 recession, sales have approached a more consistent sales range in the $400K + range. Since we sell to retail, wholesale and commercial, we are more immune to retail-only declines that some businesses experience. Although we are impacted by exchange rate changes since the dollar has been strong, international commercial accounts still purchase from us because we offer the very best tools available for their demanding needs.
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About the Sale

Reason For Selling:
We want to retire & also want our products to continue to serve this industry.
Training/Support:
Purchase of the company includes up to three weeks of hands-on training (at NKK's facility) by the managing director and primary contractor. An additional 60 days of support by phone/email are also included. Our primary contractor is also available for additional contracting for both short and long term manufacturing.
Seller Financing:
Seller shall consider financing a portion of the purchase.

Listing Info

ID:
1455367
Ad Detail Views:
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Business Listed by
Robert Shroyer

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