AIf you have a love for beautiful things, beautifying spaces, working with and for great people, then this thriving furniture and decor retailer is sure to turn your head! Already an a multiple award winning player, some of the most appealing aspects of this operation are the margins being generated on many of their products, as high as 95% and most averaging 85% or more.
With a full time hands on owner/operator, there is only need for 1 other FT worker, along with 2-3 PT workers to support the business.
Excellent location with a TON of love put in to set the space up. It looks great!
HRM is booming and expected to continue to boom. Are you ready to leave your mark?
The sale is structured as a sale of assets. The listing price of the business does not consider the inventory that will need to be acquired, which fluctuates from time to time, however, is currently running at approximately $350k. By completing the NDA and becoming a qualified buyer, we'll be happy to send you a full Offering Memorandum that will answer most of your questions.
Fiscal Year End is March 30 (still working on calculations)
2023 In-House Financial Statement (April 1, 2022 to March 30, 2023)
Revenue: $760,000
2022
Revenue: $677,000
2021
Revenue: $344,000 (7 months, also shut down for 6 weeks)
* Seller's Discretionary Earnings (“SDE”) is a calculation of the total financial benefit that a single full time owner-operator would derive from a business on an annual basis. SDE is the pretax and pre-interest profits, before non-cash expenses, owner's benefits, one time investments, and any non-related income or expenses. SDE may require that expenses be adjusted if a new owner (Purchaser) will necessarily need to take on a new expense. SDE is also referred to as Adjusted Cash Flow, Total Owner's Benefit, Seller's Discretionary Cash Flow, or Recast Earnings.
** Our expectations are for a minimum 35% down payment on the final negotiated purchase price. Feel free to run some of your own calculations here:
https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/financial-tools/business-loan-calculator
Leased premises, excellent high traffic location.
3,668 square feet
6 year leased commenced April 1, 2020
During the first two years of the Term, the annual sum of $80,696.00, payable in monthly instalments of $6,724.67, each, based upon an annual rate of $22.00 per square foot of the Rentable Area of the Leased Premises;
During the third through fourth years of the Term, the annual sum of $88,032.00, payable in monthly instalments of $7,336.00, each, based upon an annual rate of $24.00 per square foot of of the Rentable Area of the Leased Premises;
