Long story short, I’ve been a customer of this local appliance store for the last five years. It sells mostly ovens/stovetops, washer and dryers, fridges, etc. I buy mainly for my rentals and I imagine a portion of his customers are RE investors, new home owners, and people who need updated or used appliances.
It’s ran by a solo-owner in his late 60’s and recently expressed interest in selling and moving to Florida (the business is in STL). He wants $50K for the whole building plus inventory.
I know nothing about the appliance industry or how this would scale but I am open to keeping my investment options open. The owner is older and not privy to new age marketing, website optimization, etc. so maybe that’s an avenue to explore as well.
Does anyone have experience in this field? Also, I’m interested in diversifying and having hard assets on a balance sheet.
For $50k? Is that taking over the lease? Or is it a very small showroom in in a small town?
You definitely need to the see the financials for a few years on this one. Expanding? Diversifying?
There’s a reason you usually only see one or two used appliance/ refurbished places in every town. Bob’s Appliances depend on local traffic. Web presence is helpful but only to locals that don’t know about the place. Bob isn’t shipping ranges and fridges. Cost prohibitive.
Not enough info in your post yet.