Business ID: XB154578
FY2024 Adjusted Profit of $292,430 for a working owner - Asking $390,000 plus stock
This is a long-established furniture retailer with a strong reputation in the Geelong and surrounding region. It prides itself on offering custom-made furniture from its factory/showroom directly to customers.
By focusing on customer service and fast delivery, the business has competed successfully against other retailers, with a high percentage of repeat and referral customers.
Highlights:
- FY2024 revenue of $1.17 million with Adjusted Profit to working owner of $292,430
- Gross margin of around 70% by selling directly to customers
- Over 75% of sales were generated from repeat customers and word of mouth/referrals.
- An attractive showroom has the furniture and models on display
- The factory is equipped to manufacture the furniture ordered by the customers
- Customers include homeowners, interior designers and businesses seeking customed made furniture
- Has a team of employees with the skills to take from design to finished product
- Well positioned to benefit from the growth in the population with new homes and subdivisions in Geelong and surrounding regions
The current owner started with limited production planning and business admin experience and had no furniture or sales background when he took over this business over 20 years ago. He is responsible for the day-to-day operation and is supported by a team of employees in sales and production. He is ready to scale back and will assist the new owner in the transition to ensure a smooth handover.
This is a great opportunity to take over an established business with a strong local reputation and access to a growing market. It will be attractive to:
- An individual with a retail, furniture, building or interior design background to develop the business further
- "Bolt-on" to an existing furniture retailer, manufacturer or importer seeking to take over an established brand in a rapidly growth region
An excellent opportunity priced to attract the right new owner.
Asking $390,000 plus stock (up to $150,000)
Property Code: 3788
