Location: Northwest Michigan
Industry: Hardware Store
Listing ID: CK010823HF
*** BUSINESS PRICED TO SELL ***
ASKING PRICE 8.3% BELOW APPRAISED VALUE
Rooted in history and bolstered by innovation, this hardware store has become a cornerstone of the community, offering an extensive and diverse range of products and services. This hardware store has evolved into a full-service hardware haven, boasting an expansive inventory that includes core hardware essentials, lumber, housewares, seasonal items, outdoor living supplies, marine equipment, fishing gear, camping essentials, and boat & RV provisions. The store’s commitment to excellence extends beyond products, encompassing an array of valuable services, including screen repair, glass cutting, propane exchanges, DNR licenses, pipe cutting and threading, key duplication, and UPS shipping.
Their reputation as a premier destination continues to thrive, with the geography experiencing a surge in popularity. The company has experienced sales growth and is anticipated to be robust, further fueled by the increased demand from contractors and the upswing in new home construction and remodels.
The dedication to excellence exhibited by this store has earned it accolades and recognition. The store’s consistent acclaim has elevated its status to one of the top establishments in their market.
This opportunity to steward the legacy of this hardware store beckons. This iconic establishment, firmly anchored in the community’s fabric, offers discerning investors a chance to contribute to its rich history while nurturing its promising future. With a legacy rooted in time-honored values and a strategic vision poised for growth, This company beckons as a unique and compelling investment prospect.
Total Sales: $899,535
Cash Flow: $201,801
Accounts Receivable: $20,000
FFE: $89,500 (Included in Price)
Real Estate: $900,000
Terms and Conditions?:
Limited seller financing to assist in securing SBA loan. New SBA guidelines on financing a business with purchase of real estate have changed and allow for long-term amortization of both the business and real estate, providing smaller payments and ability to refinance in 3 years at lower rates.
Reason For Sale:
Owners wish to pursue new opportunities unrelated to the hardware business that will allow them to spend more time with their children.
Training & Support:
Owners will assist in a successful transition to new owners
Year Established: Long history of prior owners
Year of Last Acquisition: 2015
Days & Hours of Operation: Monday – Saturday, 8am – 6pm; Sunday, 9am – 3pm
Lease Option: Owner willing to lease or sell the building along with the sale of the business
Monthly Rent: $4,500,
Type of Location: Standalone Building
Square Footage: 3,100 main level and 3,100 lower level for storage
Purchase price of $900,000 is estimated and will be adjusted once an ordered appraisal has been completed.
Excellent opportunity for purchase by another hardware store chain looking to expand in a new geography with high growth opportunities or an entrepreneur seeking to own a successful business in one of Michigan’s most desirable areas.
During a competitive market landscape, this hardware store is a beacon of reliability and innovation. Surrounding rivals are situated approximately 10 miles away have spurred an environment where differentiation and excellence are paramount.
There are many identified opportunities for growth, including:
- Enhanced inventory management
- Delivery services expansion
- Local market dynamics & customer loyalty
- Store layout & display enhancement
- Potential lumber expansion
- Revenue generation through delivery services & MRO
- Natural growth & new product offerings
- Diversification & service expansion
- Strategic store layout changes
- Leveraging buying power & space
- Expansion strategies