This opportunity is a floor covering retailer for sale in Northern Indiana. The Company offers a full selection of flooring products, such as carpet, vinyl, tile, laminate, luxury vinyl plank, and various cushioning/padding materials. The Company’s customer base consists of a variety of general and specialized contractors, in addition to individual retail customers. The Company is partnered with and carries numerous brand-name flooring products.
The Company was founded over 30 years ago and is owned and operated by the original founder. Prior to founding the Business, the owner gathered over 10 years of relevant experience in the industry working for other floor covering businesses. The owner and the owner’s spouse are both involved in the Business, but currently on a limited basis. The owner oversees the day-to-day operations; however, he spends less than 20 hours per week on business-related duties. The owner’s spouse is involved within the Business but only spends approximately 3-5 hours per week fulfilling bookkeeping responsibilities. The owner has noted that the Company is capable of operating independently of himself, allowing for a buyer to more seamlessly transition into the Company.
The Company’s staff is composed primarily of a team of experienced salespeople. The tenure of each employee ranges from four years for the Company’s most recent hire to over 20 years for the Company’s most experienced salesperson. Each sales representative is focused on fulfilling the flooring needs of customers while coordinating subcontractors to complete the installation of the project. In the owner’s absence, each of the sales representatives is capable of and trained to satisfy the day-to-day operations of the Company.
The Company currently operates out of a facility owned through the owner’s real estate holding entity. The property was built in 1975 and has been undergoing a series of renovations both on the interior and exterior. The facility is composed of a showroom and warehouse space, where the showroom areas are routinely renovated on an ongoing basis to showcase the Business’ current and trending products. Plans to renovate the exterior of the building throughout the summer of 2022 have been set in place. The facility has an estimated market value of $300,000. Ownership is flexible regarding the sale or lease of the real estate.
Number of Employees: 3
Year Established: 1990
Facility: The Company operates out of a facility totaling 5,000 square feet. The facility is owned by the Company owner through a real estate holding entity. The Company’s showroom encompasses roughly 1/3 of the facility while the other 2/3 serves as warehousing space for inventory. Built in 1975, routine maintenance has been prioritized to ensure the facility remains in good condition. The interior showroom portions of the building are consistently renovated on an ongoing basis to highlight the Company’s new product offerings and current flooring trends, while the exterior is scheduled to receive renovations throughout the summer of 2022.
Support/Training: Ownership is willing to provide reasonable and customary assistance during the transition period.
Reasons for Selling: Ownership would like to pursue retirement.
(1) Brand Name Product Offerings
(2) Experienced, Long-Standing Salespeople
(3) Diverse Customer Base with Low Concentration
(1) Local Area Population Growth: The Company’s local metropolitan area is home to significant industrial and manufacturing activities, which has been propelling population growth in the area. The floor covering industry is closely correlated to new construction activity, and future population growth within the metropolitan area is leading to substantial increases in demand for residential housing. This provides opportunity over the coming decades for the Company in terms of both new construction and existing remodels.
(2) New General Contractor Relationships: The local area surrounding the Business is concentrated with both general and specialized contractors. Building relationships with these contractors could lead to the Business being the go-to floor covering provider for local contractors and remodelers, driving future growth.
(3) Website and Marketing Improvements: Throughout the Company’s 30+ year history, the Business has solely relied upon word-of-mouth to attract customers and earn sales. This has allowed the Company to operate at comfortable levels for the current owner but presents an opportunity for new ownership to grow the Business via a formalized marketing strategy. Potential means of growth include improving the Company’s website search engine optimization (SEO) as well as attending relevant industry trade shows to improve Company awareness.
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Upon doing so you will receive a link via email to review and sign our confidentiality agreement. Once signed we will be able to further the conversation and send you the confidential Offering Documents. Please contact [email protected] with any questions. Interested parties must demonstrate proof of financial capability, sign a Non-Disclosure Agreement, and answer a few questions related to their background and interests. Enquire today about this floor covering retailer for sale!