Seller Financing: Yes Lender Pre-Qualified: No Listing ID: HIFI1 Status:
Listing Details
Listed Price: $299,000 Down Payment: $100,000 Total Sales: $1,082,479 SDE: $132,497 EBIT: EBITDA: FFE: $47,000
Included? Yes Real Estate:
Included? No Inventory: $215,000
Included? Yes A/R:
Included? No
Contact Information Jeff Snell, M&AMI, CBI, ABI ENLIGN Business Brokers 2009 Caminos Street Raleigh 27607 Office: * * *** Cell: * * *** Fax: Email: [Email Censored] [Web Link Censored] Send Email To Agent
Reason for Sale: Absentee owner desires to focus on other business opportunities. Training: Current management will provide buyer with complete transition support and is available for long-term employment. Financing Terms: Seller will comply with standard SBA guidelines. Asking price DOES include sellable inventory and demo inventory valued at approximately $215,000. Selling price will be adjusted upward or downward based upon actual inventory as of the day of closing. Any net increase or decrease in recast net profit between LOI execution and closing will adjust closing price on a prorata basis.
Operations
Year Established: 1997 Form of Ownership: Home Based: No Relocatable: No Type of Location: Commercial Absentee Owner: Yes Online: Employees: Full Time: 5 / Part Time: 1 Managers: 1 Hours: 10-6 Monday-Saturday Owner Hours: 0 Non-Owner Payroll: Franchise Info: non-franchise
Location
Lease Expire: Option: Lease Terms: Lease Security: Monthly Rent: Square Footage: 5205 Facilities: Showroom features purpose built demo rooms for maximum impact from audio and video solutions for indoor and outdoor enjoyment. Upfit of location exceeds $250,000.
Summary
Business Description: Retail business with high-end showroom sells, installs, configures, and provides warranty and non-warranty high-end consumer and commercial audio and video equipment. Many product lines are exclusive with high margins, high customer loyalty and protected territories.
Business needs an onsite, hands-on, full-time owner operator. Historical Summary: This company has built a solid reputation selling higher end electronics such as McIntosh, Runco, B&W, Martin Logan, Pioneer Elite, to name a few. ~80% residential, ~20% commercial professional design, installation and service. Recognized as the areas industry leader. Owner Qualifications: Dependent upon buyers intention on operations. No technical knowledge is required. Existing team is available for long-term employment. General management, accounting, and business operational experience expected. Currently owned absentee. Competition: No competition for similar grade product or design/installtion services for a minimum 2 hour drive in any direction up to 3+ hours. Potential Growth: Owner believes growth potential is substantial subject to increased marketing activities in the design/build pre-wire, commercial services.
Located in an area winning award after award for quaility of life and business climate. Expected to grow faster than most markets in the US over the coming 3-5 years.
Additionally, owner believes current topline revenue is sufficient to generate bottom line profit with active owner/operator. Risk factors: No unique risk factors exist for this opportunity. As the economy improves consumers and businesses are increasing discretionery spending on high-end products and services. Additionally, consumers and companies are more able and willing to upgrade existing installations as they have been on hold for 3-4 years in most cases.
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Selling Assets:
Yes.
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Is Business Relocatable?:
No.
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Is Business Home Based?:
No.
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Franchise:
Not a franchise.
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Real Estate:
Showroom features purpose built demo rooms for maximum impact from audio and video solutions for indoor and outdoor enjoyment. Upfit of location exceeds $250,000.
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Competition:
No competition for similar grade product or design/installtion services for a minimum 2 hour drive in any direction up to 3+ hours.
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Expansion:
Owner believes growth potential is substantial subject to increased marketing activities in the design/build pre-wire, commercial services.
Located in an area winning award after award for quaility of life and business climate. Expected to grow faster than most markets in the US over the coming 3-5 years.
Additionally, owner believes current topline revenue is sufficient to generate bottom line profit with active owner/operator.
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Years Established:
1997
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Employees:
5
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Trading Hours:
10-6 Monday-Saturday
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Support Training:
Current management will provide buyer with complete transition support and is available for long-term employment.
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Reason For Selling:
Absentee owner desires to focus on other business opportunities.
