SE Virginia Hearth and Patio

Located in the beautiful Hampton Roads peninsula of Virginia, this established, profitable, and successful home furnishings business has been warming clients homes and hearts since 1977. Whether inside or outside, throughout spring, summer, fall, or winter, this business features products that help transform a house into a warm, inviting, and comfortable home. The diversified product offering consists of both interior and exterior high-quality finishing touches, including gas, electric, and wood burning fireplaces/stoves, fireplace accessories, outdoor patio or pool furniture, hammocks, umbrellas, outdoor grills, and fire pits. No matter the season, this business features year-round product offerings to make your home more enjoyable.
During 2021, the business delivered a top-line revenue of $1,355,000 and over $340,000 in adjusted cash flow. There are a number of significant value drivers powering these impressive results -- superb brand name recognition & equity, long-tenured, award winning community relations, excellent high-traffic location with an impressive showroom facility, high-quality products presented by professional, knowledgeable sales personnel, a custom design process for whatever project that is on the drawing board, and at-home installation, demonstration, and a post-sale service reputation second to none in the marketplace.
The business model was founded on four proven, time-tested, and winning core values:
Expertise -- they understand the products they offer and develop client-centered solutions.
Integrity -- they value and promote honesty and transparency in all interactions with clients, staff, and suppliers
Quality -- they offer only products that work well, that are durable and long-lasting, and that satisfy a client's wishes
Service -- they provide expert guidance before, during, and after the sale ... and can service every product they offer.
This is a turn-key opportunity with all ingredients in place to enable returns from Day One. If you are looking for an established, profitable, well-known and respected hearth and patio home furnishing company ... this is your business.
FINANCING AVAILABLE. This business has been lender pre-qualified for up to 90% financing (for 16 years) on a combined business and real estate loan to qualified candidates subject to full underwriting. See term sheet in the Prospectus for additional details.

Employees:5
Furniture, Fixtures, & Equipment (FF&E):Included in asking price
Facilities:This excellent business is being offered with equally attractive real estate property. The business is located on a very high traffic count major artery featuring restaurants, shopping centers, grocery stores, pharmacies, and other local retail establishments. The location is also close to major connector state highways and interstates which serves to expand the market area into one with a more regional dimension and reach. Included in the offering are two adjacent land parcels totaling 1.18 acres with approximately 270 feet of direct traffic front

Competition:The Home Furnishings industry exhibits a low level of market share concentration. The four largest players in the industry are estimated to account for 29.9% of industry revenue in 2021. The remaining share of the market is mostly composed of small to midsize players that supply local demand. IBISWorld identifies the most important success factors for this industry are: Ability to control stock on hand: Operators need to ensure that adequate stock controls are in place to reduce inventory costs and increase stock turns.

Growth & Expansion:The company has a marketing budget which includes social media account, attractive website, special events, and seasonal promotions. The majority of business comes from prior customer visits, referrals, word of mouth, and a high drive-by traffic location and very close proximity to neighboring commercial enterprises and residences. In addition, since 1997, the company has built a client database which includes purchases, phone numbers, addresses, and many emails.

Financing:Lender pre-screened with $170K down.

Support & Training:All other business licenses and state certifications are currently in place and in good order.

Reason for Selling:Owner is retiring after 45 years in the business.

Total Sales: $1,355,898

Cash Flow: $341,305

FFE: $50,000

Inventory: $83,386