Serving Johnson County Iowa for 65+ years, this residential appliance dealer also offers repair services within a 25-mile radius of its 5,000-sq. ft. showroom. Geared toward retail customers, who comprise 75% of sales, nearly 80% of walk-ins seek out new appliances for remodels. The remaining 25% of sales come from local contractors.
On staff are 10 full-time employees, 3 of whom handle all service calls. Service employees drive company trucks, and spend 95% of their time on the road. Delivery and installation is carried out by 3 full-time delivery men. Additionally, there are 3 in Sales working the showroom and assisting customers. While both owners are engaged in the day-to-day operations, 1 efficient person could handle both of their duties. Please note that neither owner does any labor or servicing.
Only $72,000 of inventory is generally kept as product orders have a 48-hour turnaround time, with orders placed 2 times per week. The company does keep apartment-grade appliances in stock as there is a large demand for it in the area.
Growth exists in offering leasing and rent-to-own, as well as expanding the used inventory offerings. A buyer should also consider carrying more brands to increase product options. Additionally, breaking into commercial appliances would be a nice revenue stream.
5,000-sq. ft. showroom and offices. Seller also has on-site and off-site storage
Leasing and rent-to-own. Carry more brands. Commercial appliances.
Mon 8am – 7pm, Tues, Wed & Fri 8am – 5:30pm, Thurs 7:30am – 5:30pm, Sat 9am – 4pm
Purchase Price: $1,075,000
15% Buyer Down Payment: $161,250
10% Seller Financing: $107,500
75% Bank Loan: $806,250
A 15% down payment returns $245,882 in the first year after debt payments.