This well-established retail furniture store has been serving the Central Vancouver Island market for over 30 years. It was founded in the early 90’s and operated by its founder until 2017. The current owner immigrated to Canada and has since moved the business to a new prominent location which has very high visible exposure in a well-established high end neighborhood. The space has high end fixtures and is modern (current owner spent in excess of $200,000 in leasehold improvements), and as a result does not require any further capital investment to this space for many years to come. The new owner will benefit of many years of higher net earnings.
The key salesperson has been with the company since 1998 and wishes to remain with the company, making transition to the new owner seemless. The other key employee has years of industry experience and is capable of managing every aspect of the business.
The current owner has kept a very low profile and has invested their time on establishing access to new supply chains that add new dimension of products to the business offerings. These new product lines have just recently been added and have already proven to be sought after by the consumer and have very good margins.
A new owner with industry experience or access to interior designer(s) would add great value to this business. The previous owner used to provide a third-party service in interior design which the current owner does not. There are other avenues to add value including expanding on the product lines already offered. The options for expansion vary dependent on the level of experience and passion of the new owner.