(San Bernardino County) – (Non-Relocatable)
Seller Financing Available. SBA preferred
Zip Code: 91762
Long established flooring and cabinetry retailer with strong installation allies have been operating in Southwest San Bernardino County for 23 years. Seller, along with a talented designer have provided products and services to a large database of customers and built a financially stable company in a still-growing home improvement field.
At this time, inventory consists mostly of tile flooring. Cabinets are ordered in conjunction with client sales.
NDA required for release of detailed CIM. Thank you.
Facilities: The Business has operated from a small strip mall in a primarily residential neighborhood for the past year and a half. The 9,000 square foot space rents for $5,760 per month. About half the space is the showroom, the other half is a dedicated warehouse. The lease runs through 2023.
Competition: Big Box home improvement stores can offer too many or too little choices and can be overly trendy in the styles offered. The process can be intimidating for seniors or those without experience remodeling kitchens and bathrooms. This is where smaller neighborhood companies find their niche, stepping up customer service and making the process easy.
Growth & Expansion: Home improvement and remodeling is still a lucrative and growing field as older customers remodel prior to selling their homes to downsize and budget-conscious first-time buyers are looking for fixer-uppers to put their own stamp on. Appealing to these clients via targeted advertising campaigns would help spur sales.
Financing: Seller may be willing to carry up to half of the purchase price for a highly-qualified Buyer with a substantial down payment.
Support & Training: As needed to support a smooth transition, then on a consultant basis after an initial 30-day training period.
Reason for Selling: The Seller is finally ready to retire.
In the US, climate, ethnic populations, and regional preferences can affect demand for certain types of merchandise. Economic growth and population growth drive demand for the sector overall. The states that gained the most people between 2017 and 2018 were Texas, Florida, California, Arizona, and North Carolina.
Home Centers and Hardware Stores: The global DIY/home improvement retail market, which includes home centers and hardware stores, generates about $580 billion in annual revenue, according to the European Federation of DIY Manufacturers. North America and Europe combined account for about 85% of the world market.
The US home center and hardware store industry includes about 22,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $200 billion. US giants Home Depot and Lowe’s account for 25% of global market share.
Home remodeling and repair and new homebuilding drive demand. The profitability of individual companies depends on low-cost purchasing, effective merchandising, and competitive pricing. Large companies can offer wide selections, supply high-volume goods to builders, and have advantages in purchasing, finance, distribution, and marketing. Small companies can compete by offering specialty products, providing superior service, or serving a local market.
Building supplies include doors, windows, masonry supplies, cabinets, and countertops. Lawn and garden supplies include lawn care machinery; outdoor nursery stock (trees and shrubs); and fertilizers. Home centers often carry a full line of appliances. Companies may also offer installation, delivery, design, or tool rental services. Services represent about 5% of industry leader Home Depot’s total sales.
Locations for independent retailers include secondary strip malls and small-town centers. A typical hardware store is about 9,500 square feet, generates $1.5 million annually, and averages $150 in sales per square foot, according to Hardware Retailing.
Good service is critical to appealing to both consumer and commercial customers. Companies in the consumer segment need workers who can help individuals seeking basic information and how-to instructions.
The Seller believes that a Buyer who is familiar with the business of remodeling, who has a contractor’s license and is already familiar with cabinetry and flooring products will do quite well.
Additional recommendations include: Plan and develop year-round marketing activities to keep clients coming in the door. Include community outreach to the locals. Regain and rebuild the Website and use lots of before and after photos. Develop and become active on social media. Develop relationships with contractors and development companies building in the area to expand commercial accounts.
Flourishing Flooring and Cabinetry Co. Motivated
Flourishing Flooring and Cabinetry Co. Motivated