Profitable ACE Hdwe w/Property & Large Seller
After a fun, helpful, and profitable 35 years spent owning and operating this successful, small town nationally branded hardware sore, the owner has decided to sell his business and retire to warmer climates after an ample transition period to a new owner-operator.
Located in a desirable West Michigan community, this business is a fixture in the town and also its only hardware store. It is located off a major state highway with the nearest hardware store (at only 30% of the size of this store) a few villages away. And don’t worry – any big box stores are a significant drive away, so the long-time captured market seems quite secure for both buyer and seller.
With annual revenues regularly exceeding $620,000, this hardware store moves more than just nuts and bolts - rental equipment, construction materials, gardening supplies, and more are also staples of its offerings. A dedicated, loyal, and knowledgeable staff of a half dozen is always on hand to give advice and help do-it-your-selfers realize their grandest dreams.
Weighted SDE (the normalized cash flow available for the buyer to service debt and pay himself) plus rental income combine for a healthy $85,000 (+) annually with a sane work schedule The sale of the business also includes real estate - two buildings totaling 12,000 square feet, with two, long term, rent paying tenants who pay promptly, and in cash!
The seller has been planning for his retirement, so he has stocked the business with nearly $200,000 (cost basis) of inventory to make sure the buyer does not miss a sale. The inventory not on the store shelves is stored in an adjourning third building (which is also included in the sale.) A new owner/operator could consolidate inventory in the main building, and rent out the inventory storage area to generate even more rental income.
The attractive $550,000 listing price is a combination of the values of the business, inventory and real estate. And while we are proud to offer the business as bankable under SBA guidelines, the sellers are eager to sell, and as such more than happy to take expanded and extended seller financing, even including the possibility of selling business and property and on a land contract!
If you’ve always dreamed of owning a piece of Americana and talking hammers and nails, this hardware store could be heaven for you! For more information on this attractive niche business, please contact Miles Greengard.