Description

This business was established over 22 years ago. They import small electrical appliances from China under their own brand name and sell to places like Lowes, Home Depot, and Walmart etc. Annual sales is over $10 million. The asking price of $4.25 million includes over $3 million in inventory, about $1 million net in accounts receivable and about $200,000 in cash in bank. This reduces the effective asking price to about $3 million. The ideal buyer would be someone familiar with import business from China and be able to communicate with Chinese manufacturers and also deal with customers in USA.

Reason for sale is retirement. Seller is 68 years old. He is willing to stay on for a period of time to work at buyer’s option. No bank loan would be needed for this transaction. $1.5 million down and seller will carry a large NOTE for the balance for a 5 year period.

Listing ID: LA3859

Posted Jun 12, 2015

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