For sale is a specialized furniture retail business that has been a fixture in Toronto for almost five decades, servicing high repeat customer base in the Golden Horseshoe, as well as shipping throughout Canada from a fully functional e-commerce website.
Company’s revenue has been stable from $1.6M to $1.9M in the 2010 – 2013 period, with average owner earnings of $170,000. Since 2014 the company has focused on improving margins by outsourcing some of its production and emphasis on better margin products as well as its e-commerce. Additional cost savings have been achieved by a recent major reduction in overhead of approx. 60%. As a result, profitability of the company has increased significantly.
This is an ideal opportunity for a hands-on owner that would like to be involved in all facets of the business to take it to the next level. This is also an excellent opportunity for a synergistic acquisition, such as a furniture manufacturer or related retail business. Business has systems in place allowing for hands-off ownership, if desired.
The current owner would like to sell in order to retire from the business. Training and an agreed upon transitional period will be provided to the purchaser. Training in administration, operations, management, and day-to-day running of the business will be part of the hand-over process. The business provides a great work-life balance being open 42 hrs/week.
Asking price: $650,000
Cash flow: $223,000
Inventory: $250,000 (included)
FF&E and Leaseholds: $120,000 (included)
Employees: 3 F/T; 2 P/T, excl. owner
Established: 1967/Purchased in 2000
If you would like further information please contact Alex Shteriev at 416-228-1200 ext. 212 or respond to this email.