Murphy Sioux Falls Business Brokers | Independent Furniture Retail in Southeast South Dakota

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Independent Furniture Retail in Southeast South Dakota

This furniture store has been a staple in the community for decades. There are both long-time, loyal customers and new younger customers that appreciate the new, more modern look of the store. The store maintains a full stock of inventory with mostly current styles and models. The store retails furniture, appliances, and flooring.

The business currently offers design and consultation services for bedroom, living room, dining room and office areas. The store also offers delivery and installation.

Current owners are not able to dedicate the time this business needs. They are pulled by another, non-related business. An owner giving closer to 40 hour weeks--certainly no more!--will be able to grow the business through simple attention.

Listed By: Josh Grode Wolters

Background information

Reference:

5401-17200

Year established:

1928

Reason selling:

Owners are shifting focus to unrelated business.

Finance

Sales:

$1,005,970

Profits:

$134,635

Operations

Employees:

Equipment:

Included in asking price $95,500

Inventory:

Included in asking price

Premises

Facility:

Located less than an hour from Sioux Falls! The facility has a total of 13,500 square feet of space, which includes 9,600 square feet of showroom with a small office and 3,900 square feet of warehouse space with a mezzanine on both sides for additional storage upstairs. A very large lot has plenty of room for expansion. There are a couple options available to a buyer for the real estate. The seller would prefer to lease, but would be open to half--or all--of the 4.35 acre lot being sold.

Rent and lease terms:

N/A

Opportunities

Growth:

Adding appliance repair would be a fast way to grow the store's annual revenues. A mechanically skilled employee could install and service appliances and upsell other products while in the home. Window coverings could be added to the product selection. Working with more construction contractors and/or multi-unit housing owners would open doors to additional flooring and appliance sales. New construction flooring and appliance customers regularly come back for furniture once the home is completed.

Price and terms

Price:

$530,000

Financing:

$53K down/$53K over 84 mos. @ 9%/Other Financing.

Training:

Will train for 2 weeks @ $0 cost.