Located in central New Hampshire, this business was started in 1983 and purchased by the current owners in 2013. Upon purchasing the business while keeping it housed in the same building, the husband-and-wife ownership/management team doubled the rental space from 1500 to 3000 square feet. At that time, they also expanded their business to include sewing machine and vacuum cleaner sales and service. They purchased the current location and moved the shop to the 3500 square feet that they now occupy, which includes a large classroom for quilting and sewing classes. At the time of the move, they once again expanded their business to include quilting machine sales and service. In 2020, they developed a web store for online sales.
The market mix for the business is 60% Fabrics, Notions, Accessories, Classes; 36% Sewing Machines, Vacuum Cleaners, accessories, and parts; and 4% Service and Repairs.
The business is buoyed by its loyal, local customer base, which comes from within a 2-hour drive time radius. Many customers are also second homeowners and visitors to the area.
Financial Information
$125,000
Asking Price
$49,728
Cash Flow
$456,614
Gross Revenue
Negotiable
Down Payment
Yes
Financing
Business Location
City:
Confidential
State:New Hampshire
Financing Comments
Sellers may consider minimal owner financing to qualified buyers, if necessary, for the right deal with a substantial down payment and limited term.
Reason for Sale
The owners are looking to retire and spend more time pursuing non-work-related interests.
Detailed information
Year Established:1983
Home Based:No
Franchise:No
Relocatable:No
Lender Prequalified:No
SBA Prequalified:No
Part-Time Employees:3
Contractors:N/A
Owner Worked Hours/w:40
Adjusted EBITDA:
N/A
Inventory Included: No
Inventory Value:
$191,228
Monthly Rent:
$3,000
Real Estate Available: No
Real Estate Included: No
Real Estate Value:
$0
Building Size: 3500
FF&E Included?: Yes
FF&E Value: $50,790
Training/Support
The current owner is willing to stay on and train for two weeks after the transfer of the business at no charge and will be available on a consulting basis beyond the two weeks for a designated, negotiated term as needed by the buyer.
Facilities
The current owner is willing to stay on and train for two weeks after the transfer of the business at no charge and will be available on a consulting basis beyond the two weeks for a designated, negotiated term as needed by the buyer.
Market Outlook/Competition
The strength of the quilting, sewing machine and vacuum cleaner sales and service segments of the business are predicated on the high quality of the product lines carried and the superior sales knowledge, service, and training offered. There are three other businesses who directly compete with this business, the nearest of which is 20 miles away and the furthest over 60 miles away. All of them compete in some level of service and product offerings but none of them compete in all aspects of what North Country does. This business feels that their service orientation, product and service diversity, solid reputation, and consistent history keep them ahead of their competition.
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