Furniture and Bedding Retailer Far North QLD, $620K Profit to Owners
Stock Included: —
Stock Value: —
Years Est: —
Gross Revenue: —
Business ID: BS144892
Sales $2.8million in 2020, Established 40 Years, Exclusive Brands
Established for over 40 years, this highly successful and well regarded retailer provides high-quality office and home furniture, bedding, soft furnishings and homeware products to its customers in Far North Queensland. Servicing an exclusive territory, the business has agreements with well-known suppliers and national brands. Co-operative buying power, proven marketing strategies and the national reputation of licensed brand names provides a competitive advantage which translates into substantial profits to owners.
The business trades from a well located premises, with a well-stocked 1200m2 showroom. Customers are able to ‘see, try and buy,’ a luxury not extended by many furniture retailers who typically make customers wait for extended periods for their deliveries. One of the owners works in the business full-time and the 2nd owner assists part-time. The business currently employs nine people and trades 7 days per week.
-Turnover over $2.8million in 2020, even with Covid19
-Sales up an incredible 60% YTD in 2021
-Profit to owners $620,529 in 2020
-Profit to owners $576,448/annum average last 3 years
-EBITDA estimated at $515,529 for 2020
-Exclusive territories with high profile brands
-Highly desirable lifestyle location in Far North Queensland
-Established over 40 years with impeccable reputation
-Owner offering 6 week training and transition
Whilst the business is producing significant returns to its owners, there are future opportunities to expand some niche areas and broaden social media and online interactions. After 25 years in the business, it’s now time for the owners to retire.
The asking price for the business is $990,000, including assets valued by owner at $79,195 PLUS Stock at Cost which is estimated at around $400,000