Details - Information last confirmed on February 1, 2021
This profitable and 60-year established Business services one of the hottest markets in the country. The company serves both residential customers seeking to upgrade their homes and commercial/institutional clients for both renovations and new construction. According to the latest U.S. Census Bureau report, home centers, hardware stores, garden centers and building materials suppliers realized a year-over-year sales increase of 22.6 percent, second only to ecommerce/online retailers.
The Company operates a distinct and profitable retail concept out of two strategically placed stores serving both commercial and residential customers seeking to upgrade their homes in the Tri-Cities Area of Michigan. The company also operates as a commercial flooring wholesaler that supplies and installs to commercial flooring contractors and general contractors a wide variety of floor covering products for commercial, institutional, and educational projects.
Much of the Company’s business is selling and installing commercial flooring to commercial flooring contractors and general contractors; however, the Company’s retail locations complement its primary source of revenue by offering parallel home improvement products. The Company’s retail brands provide various products, including paint, floor covering products, window products, lighting supplies, and more.
The Company utilizes a local advertising agency to handle most of the marketing for all the locations. This advertising agency provides the Company with better advertising “buys” and the ability to focus on current promotions and sales. Due to the Company’s excellent locations, outstanding market reputation, and expertise, it has a high percentage of repeat and referral business.
The Company is owned by a single owner. The owner is involved in the oversight and operations of the Business. Additionally, this owner oversees high-level operations, makes strategic-level decisions, makes the final decision on what commercial jobs to bid on, but he does not actively manage the day-to-day operations of each location. Instead, the management staff is in place to handle most of the day-to-day operations of the Business.
After operating the Company for 40 years, the owner would like to sell the Company to pursue retirement. Critical managerial staff has been with the Company for decades, and ownership has no concerns about their continuity. Ownership is willing to stay with the Company for a transition period post-transaction to assist the purchaser’s needs.
Buyers will be required to have a minimum of $500,000, solid credit, and preferably industry experience to qualify for SBA 7a financing.
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