Listing Number: 88882-213229
This is a non branded (not Ace or True Value) hardware store and gift shop located in a large East Texas city. A ground-up start in 2007, this operation has grown sales steadily from $290K to $953K annually. Increases leveled off in 2015 but resumed in 2018 and 2019 as the store is up 5% through July of 2019. The competitive overview for this store is outstanding with 2 big box stores that cannot compete with service and convenience that are both located in a different part of the city. There is also 1 Ace store in the area but it is 10 minutes away and provides service to a very different part of the city.
This listing does not include the building and land that are valued at $650,000 per appraisal. The land and building can be acquired if the buyer so desires Building is in great condition and is 7800 square feet under roof on .86 acres of land. The build-out is complete with shelving, forklift, POS system, security system, etc.
The current owner is retiring. A new owner can expand on the operation in several ways. A lumber program (for which there is room) could increase the amount of professional traffic significantly. Program keys for autos, a recent addition to the store, has been an area of solid growth and new revenue. A recently added electric sign to the front of the store has been a good driver of traffic and interest. One of the best things about this store is that it is stocked and serviced by Orgill. The Orgill warehouse is located 20 minutes away in Kilgore and the benefit of this fact can not be overstated. Orgill is the second largest supplier of hardware in America.
Bottom line; this is a great store in a terrific location. Being the best option in the area for convenience and customer service has allowed this concern to become established as the go-to hardware store for locals and anybody else who wants to avoid the problems with shopping at a big box store. One look at the Google Review Rating (5 stars with nearly 100 reviews) tells you that this store is a valued part of the local community.
- Price: $590,000
- Down Payment: $180,000
- Sellers Discretionary Earnings: $127,766
- Total Sales: $910,642
- Location: Gregg County, Texas
- Inventory: $450,000
- FF&E: $50,000
- Employees: 14
- Year Established: 2007
- Reason for Selling: Retirement
- Category: Hardware Ret Related