Over the last 30 years, the owner has been cleaning, selling, and restoring high-end expensive rugs, generally valued between $2,000-$10,000.
Most of his business is on the West Side, serving clients with a lot of disposable income. Typical clients include entertainment professionals, doctors, lawyers, and business professionals.
Many years ago, the owner traveled to the Middle East where he learned how to make high-end rugs from scratch and has perfected a cleaning and restoration method. He will train the new owner how to do the same.
The earnings of the company have been flat because the owner is 77 years old and has been cruising based upon his recurring revenue base. He doesn't do any marketing because he's looking forward to retiring. The new owner can easily expand the business by doing some basic marketing that the current owner used to do, including Yelp, and newspaper advertising.
The owner has vendors who he's trained to provide the services for his business, which means the owner has little overhead and virtually no payroll. The owner is essentially marketing his business, selling his services/expertise and has vendors doing fulfillment.
The ideal new owner is more of a marketing person than a rug person, because the services are outsourced. The new owner will market, handle the sales, and instruct vendors on how to do the restoration. Training will be provided.
Sale Pending: No
First Seen: Wed, Aug 22nd 2018
Last Updated: Tue, Jul 9th 2019