Upscale Interior Design Business For Sale

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LIVE AND WORK IN A TROPICAL PARADISE-SOUTH WEST COAST OF FLORIDA
Asking Price:
$695,000

Gross Revenue:
$644,000
Cash Flow:
$143,355
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$75,000
included in asking price

FF&E:
$100,000
included in asking price

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Business Description

Outstanding opportunity to purchase a 12-year-old award winning INTERIOR DESIGN BUSINESS located on the Southwest Coast of Florida. If you’re looking for a lifestyle change with tremendous upside, this is it. This is a very prominent, successful, well established design and furnishing company that has built an enviable reputation of outstanding customer service with its many mid to high-end loyal customers. The owners estimate that they have more than 1,000 clients, with approximately one half of these clients being repeat & referral business. They have bookings out to 2020. The mix of business is roughly 80% Residential and 20% Commercial. You are purchasing the business, the brand, the name recognition, the clients, phone numbers, websites and the outstanding reputation that this company has in the community.

The company is a provider of quality interior design and soft furnishings and is known for its innovative master planning which has established them as an industry leader setting them apart from their competition. This business opportunity comes with one of the best, if not the best, “designer” in the area who is very well connected to all the key players in the market and has one of the largest followings in the area.

Located on one of the busiest thoroughfares in the area with a traffic count of more than 40,000 cars per day, walk in traffic to the store is abundant. The current owners operate out of a 1,870 Sq. Foot facility consisting of a large beautifully appointed showroom, a work area and plentiful office space. Parking is never a problem. Owners have a very favorable 5 year lease in place with monthly rent of $3,105 + a 6% Sales Tax. Current lease expires 10/1/2021, with an option to renew for an additional 5 years through 10/1/2026. There are 3 other tenants in this building, which is in excellent condition and affords all tenants prominent frontage with great signage and high visibility.

Revenues have been consistently more than $600,000 annually, except for 2017, which was down slightly due to Hurricane Irma. This hurricane impacted all businesses on the Southwest Coast of Florida across the board. Sales are up 20% in 2019 over the same period last year. With the country enjoying a robust economy and with the tremendous growth in the area, there is no reason to believe that this trend will not continue. 2019 should be a banner year. The 5-year weighted average cash flow/owners benefit for this business is $143,355.

The listing price includes Inventory of $75,000, plus Furniture, Fixtures & Equipment of $100,000.

One of the owners wishes to semi-retire, but would stay on as a part-time consultant for an extended period of time. The other owner/designer, wishes to stay on as an employee of a new owner after the sale. By keeping the current designer on and adding a second designer, the upside potential for a new owner would be tremendous, as the majority of expenses are fixed.

Due to the highly confidential nature of the sale of this business, all potential buyers must sign an NDA (Confidentiality Agreement). Information will be shared with potential buyers who make inquiries, but the name and exact location of this business will not be revealed until a buyer becomes interested enough to submit an abbreviated financial statement and personal resume to prove that they are a serious buyer who has the capacity to do the deal.

About the Business

Year Established:
2007
Number of Employees:
2
Relocatable:
Yes
Real Estate:
Leased
Building Sq. Ft.:
1,870
Rent:
$3,129.00 Per Month
Lease Expiration:
10/1/2021
Facilities:
This leased unit is 1,870 Sq. Ft. in size and is one of 4 units in a very upscale strip center located on the busiest thoroughfare in the community (40,000 + cars per day) with great signage and outstanding visibility. The subject unit is very well appointed and consists of a sizable showroom/work area and plenty of office space affording high functionality for the operation of this business.
Market Outlook/
Competition:
Although there is competition in the market place, this Company sets itself apart from the competition by providing the highest level of professionalism and service in the area. They are able to effectively compete by targeting their services directly to their loyal customer base, keeping prices competitive, and by building additional business through their excellent reputation and resultant referrals. Their favorable business strategy is their ability to be able to deliver exactly what the customer wants/needs to precise specifications within the needed timeframe.
Growth & Expansion:
This company currently has bookings out to 2020. Given the current robust economy, the strong growth and construction in the area coupled with the reputation and name recognition of this Company, there is tremendous upside potential for a new owner. With most expenses being of a fixed nature, the addition of another designer to capitalize on the opportunities would drop substantial income to the bottom line.
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About the Sale

Reason For Selling:
One owner-Semi-Retirement; the other owner would like to stay on as designer.
Training/Support:
One of the owners is the best, “designer” in the area and is very well connected. This individual knows all the key players in the market and has one of the largest followings of any design business in the area. She would stay on as an employee after the sale, provided a satisfactory compensation arrangement could be negotiated. The other owner wishes to semi-retire and would be willing to remain on in a part-time consulting capacity.

Listing Info

ID:
1612382
Ad Detail Views:
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Business Listed by

Hank Goldsby

Merritt Realty Corporation
License# SL3280549

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