Jul 10, 2019 — The Company imports commercial furniture products and distributes via wholesale/retail channels. Array of furniture products primarily from manufactures in China serve restaurants and restaurant chains across the United States.
On the wholesale side, Company sells to restaurant dealers, who provide a wide range of products and equipment with one-stop integrated solutions to restaurants.
On the retail side, Company sells to customers through e-commerce platforms such as Amazon, Wayfair, and Overstock and alike.
Through the years, the Company has developed reputation for consistently high-quality, fantastic products at attractive prices demanded by customers.
The Company emphasizes both quality and price but operates on the principle that the customer comes first. Excellent customer service has made them a leader in their field with a good reputation. The Company has a strong customer base serving 860 customers in 2018 and has an extensive customer database of 1,300+ customers.
This could be a strong candidate for L1/EB1C or other immigration visa programs through acquisition of a business.
NDA is required for comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.
Real Estate: Owned, Not included in asking price
Building SF: 60,000
Facilities: The entire building is nearly 60,000 sq. ft., divided into three units. The Company’s offices, showroom and warehouse fill two, and one is leased to another business. The Sellers own the real estate and are open to selling it. Asking price for the commercially-zoned property is $10,888,000.
Competition: There is competition from local commercial furniture providers, other importers and e-commerce companies, but top competitors have their own characteristics, and this Company is differentiated because of better service, closer work relationships and vendor support, not to mention different products.
Growth & Expansion: For maximum growth, the Company visions an increase in business through e-commerce platforms. For a strategic buyer, this could be a rare vertical integration opportunity that captures the whole margin of the value chain. The Company already has established distribution channels, which could be utilized by a manufacturing buyer to distribute its own products.
Financing: If the price and deal structure is right.
Support & Training: 4 weeks at 20 hours per week.
Reason for Selling: Relocation and desire to explore other ventures.
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