Popular Upscale Flooring And Remodeling Business - SC2122

Business Overview:

This Northern California Remodeling, Design and Flooring Business is a California S Corporation and was founded in 1986 and under current ownership since 2013. They offer a wide selection of high-quality specialty engineered hardwood, carpet, tile and laminate, as well as a vast array of custom surfaces, including granite, quartz and more. Services provided include flooring installation and remodel construction, granite fabrication, kitchen and bathroom design and remodeling. They carry a 5 Star review on their website. They operate their showroom in an affluent market in Northern California. The warehouse storage is located 5 minutes from the showroom. The company also has a commercial remodel business that operates out of a 1,000 square foot office located between the showroom and warehouse. This business has not slowed down at all, given concerns that people have with a recession. They are on track to set records and growing toward 20% year over year and are starting to book work into 2024. The Commercial Division was officially added 2 years ago and is now growing significantly. Payment has never been an issue with this company, as most customers “write checks” on the spot and rarely require any type of financing. A large portion of the business comes directly from word-of-mouth, professional referrals and repeat customers. Considering the number of years, they have been in business, they have a large installed base of customers and a superior reputation in the market. Marketing in several venues including Google, Yelp, Comcast, social media, and their website supports their reputation. They have an exceptionally trained staff that can assist customers in all facets of flooring, design, and remodeling. The flagship location recently expanded in 2021, and it continues to grow its reach to new consumer markets, as well commercial TI work servicing clients like Holiday Inn, local retirement homes, restaurants, and retailers. Growth will continue through its brand recognition and serving new markets. Geographically this region is experiencing unprecedented growth with Bay Area relocation of both young families and retirees. There is geographical expansion opportunities with this business.

Property Features and Assets:

They currently operate out of 3,200 square feet and have rent of $11,570 per month including CAM charges. There is 3.5 years left on the lease and there are three 5-year options on the lease. They also have 1,000 square feet office space at $1,500 per month with 1 year left on the lease and a 2 year renewal option.

Market Competition and Expansion:

While there is competition in the marketplace, this company is preferred due to their proximity to higher end communities in Northern California. Their “white glove” style of servicing clients with its focus on quality drives the Team and grows every aspect of the business model daily. Its’ leader’s moto is “why do what everyone else can do, let’s do what most cannot”. CA 02100708NV 1003039

Reason for Selling:

Seller is selling to have more time with family. Seller is willing to stay on and be in Sales under the new ownership with a mutually agreed upon compensation plan for an extended period.

Additional Details:

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