Wholesale Oriental Rug Retailer
- List Price: $3,000,000
- Sales: $1,151,794
- Adjusted Income: $328,208
- Down Payment: NA
- FFE Values: $50,000
- Inventory: $1,810,079
- R.E. Value: $10,645 / month
Established in 1985, this rug retailer offers one of the largest and most complete selections of hand-knotted rugs in the U.S. imported directly from India, Pakistan, Afghanistan, Turkey and Nepal. The business is known for selecting every rug at the source and cutting out the middleman. The current owner has developed great relationships with suppliers and established a stellar reputation locally, nationally and overseas.
Oriental rug stores have historically been considered mystique as very few people outside of the producing countries understand the product. In reality, store owners don’t have to be from one of the “old” countries to successfully operate an oriental rug store in the U.S. In fact, there are certain advantages to having a different perspective once the business is understood.
The business is professionally run according to accepted accounting techniques to value inventory as well as generate income statements and balance sheets. The facility includes 6,600 square feet of retail space, 2,770 square feet of mezzanine, and 8,160 square feet of warehouse space in a beautiful, stand-alone location in the Salt Lake Valley. The current owner is keeping the real estate and is willing to include a long-term lease at below market rent as part of the sale.