The Company acts as a factory direct provider of furniture to US retailers. Their products ship from multiple manufacturers in China and Vietnam. Effectively, the company is a broker between manufacturers in Asia and high-volume North American retailers.
The company exhibits samples for retail buyers at the spring and fall markets in High Point, North Carolina. Customers may order per the samples shown, or may develop minor customization they want for a similar product.
The Company leases a 1300 square foot business office for its executive and administrative staff. Separately, The Company exhibits its products from a showroom in High Point, North Carolina. The showroom is owned by a separate entity. The Managing Member of The Company is among owners of the entity that owns the showroom. Including the showroom in the sale is a possible option for potential buyers.
The potential for growth is substantial. Developing OEM products and supplying them direct from the manufacturer to large retail outlets offers great upside to both this business and its customers.
The Company competes with wholesalers who sell furniture in bulk to retailers. In general, retailers buy from wholesalers in much lower quantities than what The Company sells. The Company fulfills container level orders. For large retailers, The Company provides advantages of lower cost product procurement alongside the option of some input to product development. The Company foresees a strong niche in the future as a provider of branded items for its customers. That is, to become an original equipment manufacturer (OEM) to its customers.
Absent the mandate of a divorce decree, this business would not be on the market. The primary owner/managing member prefers to stay with the business.
Will train for 4 weeks @ no cost Company products include bedroom, dining, occasional and some upholstered furnishings. While the current owner is interested in remaining with the company long-term, new ownership will need to bring strong knowledge of furniture design and fashion trends plus manufacturing processes. Since products are sourced from Asian manufacturers fluency in the Mandarin dialect would be very helpful for a new owner.