GA/NC - RUSTICKS – High End Furniture Store & Interior Design

Business
  • Listing# : 15319
  • Listed Price : $599,000
  • Total Sales : $1,200,000
  • SIC : 5712
  • Down Payment : $599,000
  • Status : Withdrawn
  • Discretionary Earnings : $269,309

Business Type :

Furniture Retail / Furniture Store

Business Description :

RUSTICKS has been in operation since 1992 and has achieved success by offering a truly unique mix of high-end furniture and accessories that is a great fit for its location and the high-end customers it serves in the resort community of Cashiers, NC. The business has received accolades in magazines such as Veranda, Atlanta Homes and Lifestyles, WNC (Western North Carolina) Magazine, Second Home and Laurel Magazine. It has grown from its start in one small location to 7,200 square feet of showroom and warehouse facilities. The scenic location on Cashiers Lake, and the unique and stylish architecture of the business’s showroom give the business a special charm that also attracts customers.

The business offers an outstanding growth opportunity in both the retail furniture and interior design business. Cashiers is a hot growth resort area with significant construction of new residential communities underway and planned. The area is home for some of the top golf courses in the country and the world, including three Tom Fazio designed courses. After an initial slowdown in sales in 2020 due to COVID-19, sales grew rapidly. For the period of July-September 2020, total sales are $566,268 as compared to $367,631 for same period in 2019. The business could recognize a record year in sales and profits in 2020. As more residents and visitors come to Cashiers and visit the business, word is increasingly spreading across several states about the business and this is also helping to increase sales.

The current owners operate the business for just seven months of the year, May - November. Months of operation could be expanded to ten months, March – December, and this would result in an immediate and significant increase in sales and profit. Social media could be further leveraged to increase awareness of the business and grow sales. A greater emphasis could be placed on interior design services as the demand for design services is growing with the significant new home development in the area.

It is important to note that the business owner has accepted a Letter of Intent(LOI) to purchase the assets of RUSTICKS. No other offers will be considered unless the LOI is terminated and the buyer and seller do not move forward to complete an Asset Purchase Agreement.

 

Assets/Liabilities:

    • Accounts Receivable $0
    • Incl :
    • Real Estate $0
    • Incl :
    • Inventory $125,000
    • Incl : Yes
    • Liabilities $0
    • Incl :
    • FF&E $10,000
    • Incl : Yes
    • Other: $0
    • Incl :
    • Leasehold $0
    • Incl :
    • Total Assets $135,000
    • Incl : Yes

Lender Prequalified: No

Similar Listing :

Furniture Retail
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