| Interior Design Service & Furnished Studio for Sale in Solana Beach |
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| PROFILE: Established 5 Years. Beach Area. Clean/Detailed Records. 1,100 Sq. Ft. Showroom. |
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| BizBen Ad #: |
79536 |
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| Seller Or Contact: |
Joe Sample |
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| Primary Phone: |
555-555-5555 |
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| Alternate Phone: |
None Given |
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| Email Address: |
See Form Below |
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| Date Started: |
5/22/06 |
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| Date Last Revised: |
5/22/06 |
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| FINANCIAL INFORMATION |
| Asking Price: |
$195K |
| Down Payment: |
$100K |
| Annual Revenue: |
$471K |
| Annual Adjusted Net: |
$157K+ |
| Price Range: |
$100,001 to $250,000 |
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| DETAILED INFORMATION |
| Franchise: |
No |
| Relocatable: |
Yes |
| Home Based: |
No |
| Real Estate Included: |
No |
| Bkr To Bkr Coop: |
No |
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DESCRIPTION: BUSINESS SUMMARY:
Interior Design Business with walk-in showroom and fully furnished studio located in the prestigious "Cedros Design District" of Solana Beach. This turnkey operation has an established client base. All systems are in place. The 1,100 sq. ft. showroom is bright and airy with a separate 700 sq.ft. studio and private admin office area. The company specializes in a full range of interior design services including, but not limited to: in-studio or onsite consultations, space planning, floor coverings, kitchen remodels, window treatments, color and paint solutions, furniture, upholstery, interior products and more. This business would be ideal for an interior designer, or individual/partners in a related field who wants to own and grow the North County Coastal business. Ideal for bringing in independent contractor designers to work for the company on a fee or commission basis.
TURN KEY ELEMENTS:
* Established business for over five years with consistent annual sales growth: approximately $500,000 in sales for 2005
* Completed work for nearly 500 clients, with ongoing projects and returning business
* Great prospect base of over 850 leads, including lead generation contacts from privately produced seminars and home shows
* Strong web pages and yellow page ads bring in a constant stream of business
* Excellent logo and goodwill name recognition in the community
* Company has been featured in many publications such as San Diego Magazine, Del Mar Village Voice, Coast News, Union Tribune, KUSI -TV * Studio has a well-stocked supply of catalogs, fabric books and cabinet door samples and more
* Studio is set up to accommodate four designers with desks
* Separate administrative office area with two workstations
* Professionally decorated showroom for client presentations
* Access to hundreds of flooring samples
* All administrative systems established to create a successful business, including an Office Procedures manual
* QuickBooks tracking system in place to record client sources for marketing and planning
* Fully branded brochures, postcards, letterhead, business cards, public relations release template and more
* Home show vignette with signage
* Established relationship with a local marketing and public relations firm who has produced effective results for the last three years
* Easy free parking in front of the showroom/studio
SERVICES OFFERED:
* Design Consultations
* Kitchens & Baths
* Space Planning
* New Furniture & Upholstery
* Custom Cabinets
* Wall & Window Treatments
* Floor Coverings
* Color Selection
* Makeovers & Redesign
* Murals
* Artwork & Accessories
NOTE: The Feng Shui services of the company "Energy in Motion" are not included in the purchase price.
INVENTORY AND IMPROVEMENTS:
$ 7,500 Tenant Improvements
8,000 Website design
2,000 Company logo
12,000 Branding development of corporate materials (corp ID-letterhead, biz cards, envelopes)
brochure, postcards, seminar flyer template, public relations template
9,000 Photography
5,000 Two workstations and chairs (office)
1,400 Computer and printer (office)
1,000 Software (misc.)
1,100 Telephone system with six remote phones
900 Three oil paintings (office)
900 Sofa and pillows (for trade show and showroom)
500 Trade show sign and carpet
900 Drapery treatment (for trade show and showroom)
1,800 Large round table and six chairs (for client presentations)
2,000 Four designer desks and chairs
700 Workstation with computer (studio)
800 Artwork, two water colors (studio)
100 Mirror (studio)
400 Glass table and three chairs (studio)
600 Large wooden work table (showroom)
400 Small wooden work table (showroom)
6,000 Fabric books, samples, and catalogs
2,000 Sample cabinet doors and finishes
800 Office supplies
400 Business cardstock (9,000)
200 Brochures (400)
600 Door hangers (9,500)
100 Postcards (200)
$67,100
GEOGRAPHIC AND LOCATION:
Solana Beach, situated north of San Diego and south of Carlsbad, is a mostly residential beach community offering some of the best antique and art shopping in San Diego County; the cultural heart and soul of Solana Beach is located near Coast Route Highway 101 (Coast Highway). "The Cedros Design District," a Mecca for antique and decorating shops, is one block east of Highway 101 and intersected by Lomas Santa Fe. The showroom (three blocks from the beach) is located on North Cedros, across from the train station.
LEASE:
The lease term ends November 30, 2008 - option for two years is negotiable. The cost is $1.90 sq.ft. for approximately 900 square feet ($1,782 per month). The space can be expanded up to 1,200 sq.ft. or more (Total overall space is approximately 1,800 sq. ft.) . We share space with a flooring company all under one roof, giving access to hundreds of flooring samples and shared commissions and networking.
MARKETING:
Our website and yellow pages are very customer approachable and friendly. People have given us feedback that they like the way our company "feels" which is important when doing interior design and decorating in people's homes and offices. Our marketing efforts have given us valuable name recognition in the community through in-house seminars, home shows, press and TV appearances.
DESIGNERS:
Work freelance and are independent contractors.
APPROXIMATE FIXED EXPENSES:
$ 375 Website/internet promotion, hosting and cable
450 Yellow page ad
1,772 Rent (50% of overall space)
200 Electric, trash and cleaning
250 Phones
70 Storage
$3,117 TOTAL
PRO-FORMA:
Generate a combination of fees and product sales at an overall average gross profit of 51% for both combined; and after cost of goods.
Owner-designer:
$ 25,000 fees and product sales x 51% gross profit = $12,750 monthly income
$300,000 fees and product sales x 51% gross profit = $153,000 annual income
Free lance designer(s):
$ 15,000 fees and product sales x 51 % gross profit = $7,650 less commission payout of 50% is $3,825 = $3,825 monthly income
$ 180,000 x 51% gross profit= $91,800 less commission payout of 50% is $45,900 = $45,900 annual income
Total annual fees and product sales of $300,000 sold by Owner + $180,000 sold by designer's = $480,000
Total Projected Gross Profit (before expenses) of $153,000 earned by Owner + $45,900 earned from Designer's = $198,900
TRAINING AND TRANSITION:
Month one - 30 hours in person or phone. Month two - 20 hours in person or phone. Month three - 20 hours by phone only.
PRICING AND DEAL STRUCTURE :
Price: $195,000. $100,000 down. Will carry a $95,000 unsecured note amortized over 5 years @10% interest. |
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