This listing is: In Escrow
Background
| BizEx ID: | BizEx1296-BJ |
|---|---|
| General Location: | Los Angeles, CA |
| Category: |
Retail Business Services |
| Years in Business: | 74 |
| Under Present Owner: | 33 |
| Hours of Operation: | 8am-5pm |
| Owner Hours: | 8am-5pm |
| Training: | 2 weeks @ 8 hours |
| Organization Type: | Sole proprietor |
| Lease Expiration: | Month to Month |
| Lease Options: | |
| Building Size: | 7000 |
| Employees: | 8 |
| Reason for Sale: | Family |
Financials
| Asking Price: | $300,000 |
|---|---|
| Down Payment: | $50,000 |
| Gross Sales: | $830,000 |
| Discretionary Cash Flow: | $193,000 |
| FF&E: | Yes |
| Inventory Included? | Yes |
| Inventory: | |
| Min. Operating Capital: | |
| Real Estate Available? | No |
| Rent: | $12,000 |
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Gross Sales | $ 2,012,476 | $ 2,337,694 | $ 2,115,459 |
| Gross Profit | $ 809,098 | $ 831,633 | $ 858,778 |
| Disc. Earnings | $ 194,986 | $ 193,004 | $ 197,972 |
Pictures
Description
Key-Value Drivers:
- Family-owned business for 75+ years, same location
- Loyal customers with high retention and referrals
- Low rent, low maintenance, and long lease term
- Inventory valued at $700k - $1M estimated included
- No competitors within 30 miles
Why Invest?
- Legacy & Stability: 75+ years in the same prime location.
- Strong Customer Base: Loyal clientele with steady repeat business.
- Financially Attractive: Low overhead costs with low rent and maintenance.
- Turnkey Operation: Includes $700k - $1M worth of inventory.
- Exclusive Market: No direct competitors within a 10-mile radius.
Business Highlights:
- Premium Products: High margins on premium lighting products.
- Optimized Showrooms: Designed to appeal to both professionals and consumers.
- Strong Relationships: Established connections with architects, contractors, designers, and electricians.
- Loyalty Program: Maintains strong business relationships and customer loyalty.
Growth Opportunities:
- E-commerce Expansion: Set up an online store to significantly increase revenue.
- Market Optimism: Favorable housing market and mortgage rates expected to drive growth in 2020.
Reason for Sale:
- Owner Retirement: Owner retiring after 75 successful years.
- Pre-COVID Value: Original asking price was $1.5M before COVID-19.
- Resilient Performance: Sales and revenue have remained steady despite the pandemic.
- Urgent Sale: Due to family reasons and the need to retire, offering a unique opportunity for a new buyer.
Don't miss this amazing opportunity to own a well-established, innovative lighting retailer in the upscale West Coast markets!
For more questions please contact Betty Jong at 310-228-7888 Bjong@Bizex.net
Disclaimer: The information herein is furnished by the seller; BizEx has not verified this information and makes no representation or warranty as to its accuracy, completeness, or authenticity. Future earnings may differ from past earnings. Discretionary Earnings is defined as earnings before deducting interest, taxes, depreciation, and amortization, and adding Owners salary, benefits and non recurring expenses.
