SOLD! Kitchen & Bath Sales, Design & Install Company
Business Type:
Home Furniture & Furnishings
Asking Price: 174995.00
Gross Revenue:
976345.00
Cash Flow: 138344.00
FF&E Value: 9000.00
FF&E Included in Sale: Yes
Inventory Value: 123000.00
Inventory Included in Sale: No
Real Estate Value: $
Real Estate Included in Sale: No
State: District of Columbia
City/County: Washington
Year Established: 2007
Employees:
Listing Number: HZ223DZ
Listing Broker: Dustin Zeher
Broker Contact:
571-437-5135
Broker Email:
dustin@horizonbrokers.com
Business Summary:
Great opportunity to own an established, growing European Modern Kitchen & Bath Sales, Design & Install Company in the Nation’s Capital! The company is the exclusive dealer in the Washington region of a high end Italian custom cabinetry line of products. The Italian Manufacturer began cabinetry production in 1960 and is one of Italy's premier high-end kitchen and bath cabinetry brands. The manufacturer has a state of the art factory, with showrooms all over the world and English speaking representatives. This Sales, Design and Install Company has been operating for 8 years by two friends with no design training, and is now Washington's oldest Italian kitchen and bath showroom. Their wide range of luxury finish options and ability to create custom, Italian designed, cabinetry allow the company to satisfy the pickiest clients. Cabinet finish options include over 25 wood veneers, lacquer, glossy and matte glass, stainless steel, and ceramic cabinets. The Company has signed contracts in place that has them tracking to do better than 2014. This is a great opportunity for someone looking for an established business that is scalable with great growth potential or for an existing home improvement or contracting company looking to expand their product line and services. The Business Owners are motivated to sell and say bring all reasonable offers!
Description of Facilities:
The 2097 sq ft showroom is a ground level loft in the heart of Georgetown's upscale design district and is leased for approx $10k/mo. Inhabiting a historic flagstone and brick industrial space, its huge 10 foot windows with water views creating a picturesque setting and fill the showroom with natural light. The showroom has 5 full size kitchen displays, a working kitchen, bathroom and closet displays. There is workspace for 3 people.
Competition:
Once a crowded market, the high-end European cabinet market in the Washington region has seen a shakeup in the past two years with three well-established competitors closing their doors. This company once competed with five other Italian high end cabinet brands, but currently there are only two in the DC region. The company is well positioned relative to the two other competitors: one is significantly lower in quality and only offers set cabinet sizes with no customization, and the other has a price point much higher than the average high end European kitchen.
Growth & Expansion:
The company has several opportunities for growth as it has conducted only a minimal amount of advertising and has no outreach program to architects and designers, who are the main source of clients for most of their competitors. The boutique condo market is booming in DC, and developers are eager to impress their wealthy clientele. The company has only scratched the surface of this market. Partnering with a local general contractor to create a "one stop shop" kitchen and bath business will also place the company in a better position to compete with other high-end custom cabinet showroom in the area. The modern European style, the longtime favorite of local architects and DC's embassy elites, has seen a steady rise in popularity in the US and the DC region. The company is now the Washington region's oldest Italian kitchen and bath showroom, is poised to leverage its position and reputation in the high-end design marketplace. Net income has more than tripled in the past 2 years and it is positioned to continue that trend.
Seller Financing Available:
No
Seller Financing Terms:
Available depending on the final purchase price, terms and qualifications of the buyer.
Reason For Sale:
Pursuing other career/business interests.
Seller Support & Training:
Sellers will provide necessary training & support.
Get More Information:
To learn more about this business including the name, location, and financial information please complete and return our Buyers Package, which can also be downloaded here, and returned to us at admin@horizonbrokers.com.
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Established, profitable Company with limited competition, great growth potential and motivated sellers. This is a must see!
