Details - Information last confirmed on November 23, 2020
Special Note: In a victory for small business buyers, the recent $900BB stimulus bill directs the SBA to pay the first 6 months of new SBA 7(a) loans approved between February 1 and September 30, 2021 (up to $9,000/month). Our advice: Don't wait. Find a quality business and get moving quickly. Banks will be busy this year and buyers that wait until July/August will likely lose out.
This well-established and profitable company designs, installs, and delivers residential home cabinets and countertops for builders and homeowners. They also provide remodeling and plumbing services through subcontracting agreements. The Company serves builders in both new construction and remodeling, as well as selling directly to homeowners. The Company offers premium custom cabinet solutions and recently rolled out two entry-level cabinet lines (one import and one manufactured domestically) that they expect could add approximately $1 million in sales in 2021.
The Company designs mostly kitchens, baths, laundries, bars, and provide cabinets based on design. The Company also offers countertops: laminate, quartz, granite, and wood. They frequently sell cabinets and countertops as a combination, but a significant portion of the countertop business is countertop-only. The Company is intentional about its provided product lines and suppliers, keeping quality as the utmost priority.
The Company features a showroom with over 25 inspiring kitchen displays and 6 major cabinetry lines. Customers can come in and experience the showroom’s warm and hospitable environment while they collaborate with skilled designers towards building their dream kitchen. The Company also has a warehouse that has not yet met its capacity, leaving plenty of room for increased product line offerings. The two facilities are leased from an unrelated third-party.
While there was a decline in operations and product demand at the beginning of the COVID-19 pandemic, the Company is already recovering quickly. There is much reason to expect demand to continue rising.
The Owner is in his 60s and is selling to transition into retirement. He loves the Business but feels he will best serve the Company by stepping aside and transitioning it to a new owner with more energy. He is happy to assist in a reasonable transition period.
Buyers will be required to have a minimum of $100,000, solid credit, and preferably industry experience to qualify for SBA 7a financing.
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