First, please visit the SpaceNow! website below to see the product lines and more information about us.
The product lines serve 3 major markets:
Commercial: Document and Inventory Storage: Medical, Pharmaceutical, Legal, Financial, Federal, State, Municipal and Military.
Retail: (Huge chain-store market): Inventory storage and Retail Display Systems for anything that fits on a shelf or hangs on a hook.
Cultural: Libraries, Art Galleries, Museums: Bookstores, Hanging Art, Artifacts, etc.
About the competition and our product line: Six companies offering “High Density Mobile Shelving,” sell in total about $180 million per year according to “Hoovers”, a business analyst company. However, none of these companies offer features available from SpaceNow!. Three of the lines, The NoTrac™ System, The SlatGrid™ system and the ArtGlider™ System are totally unique and not available from any other source.
Who buys our products: Most of the Fortune 500 companies and under our federal contracts, nearly all branches of government: federal, state and local, and the military. (See “About Us” on our website.) We distribute through a network of dealers throughout the U.S. and Canada. In areas without an active dealer we sell direct to the end users.
About SpaceNow!: We are located in Newark, NJ where we lease approximately 1.500 sq.ft. in an industrial building used for inventory and packaging only. We have three employees, including myself. I run the business day to day including customer contact, job quotations, purchasing, marketing and product development. My assistant does order entry, job quotations, and administrative duties: billing and receivables, payables, payroll, quotation follow-up and marketing-related activities: mailings, etc. Our inventory manager does the packing and shipping of orders and maintains inventory.
About production: You don’t need a factory to be in this business. We do not manufacture the product components in our own facility. We subcontract the actual manufacture to outside shops including the powder-coat finishers. We own the tooling, dies and fixtures, which we supply to the shop that does the fabrication. There are many advantages to this arrangement: Our overhead is low, our space requirements are minimal. We can "scale up" production to meet virtually any demand. Also, we can be easily and inexpensively re-located. NOTE: If the buyer has his or her own metal fabrication facility, there would obviously be savings in space and the cost of parts leading to greatly enhanced profitability. We have engineering drawings for each part and sub-assembly so fabrication can be done by any equipped shop.
What would a sale include? Inventory of all parts, hardware and components on site at the time of sale. All tooling — dies and fixtures owned by SpaceNow!. Estimated tooling and inventory value: $35,000.
Office equipment and supplies. Estimated value: $15,000.
Intellectual property: Website, parts drawings, product literature, marketing plans, Customer lists, Order Processing Software, etc.
Also included would be accounts receivable at the time of sale. Current accounts receivable: $23,582. Current job quotations outstanding: $185,908.
Continuity: I would be available to the company for training, developing new marketing materials and even new products for up to a year.
The Future: What this company needs is a strong marketing effort to realize the multi-million dollar potential especially in the huge retail and food service markets which we have recently entered.
Why is the company for Sale? In business since 1993, Owner wishes to retire.
Asking Price: $300,000, Terms negotiable.
Questions and comments are welcome.
Newark, NJ, Ironbound Area. Distribution throughout the US + Canada and Mexico.
1,500 sq.ft. leased space from the company that subcontracts the fabrication of our components. See the listing summary included.
Huge expansion with strong marketing effort in the retail chain store market, library, museum and art gallery markets and federal government.
Support & Training:
Current employees will stay with business. Owner will be available up to one year for transition and consultation.
Reason For Selling:
The owner, in business since 1993, wishes to retire.