Diverse Event Rental Business Thriving in New York
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Asking Price
$1,700,000
Detailed Information
Business Description
This long-standing business, formed in the 1950s through a merger in the 1990s, offers a diverse range of products and services primarily catering to repeat customers such as homeowners, venues, restaurants, schools, and more. With the recent closure of two main competitors due to the pandemic, the company has been able to not only survive but also increase its prices post-Covid. Housed in a leased 12,500-square-foot warehouse in New York with ample parking space for its 6 trucks, the business benefits from a favorable 10-year lease agreement. The company, with a fluctuating staff size ranging from 8 to 25 employees, is managed by two owners - one preparing for retirement and the other committed for the next 5 years. Despite its seasonal nature, the business maintains healthy profit margins by repeatedly renting out its equipment. Key revenue-generating products include tents, chairs, tablecloths, tableware, stages, and dance floors. Operating successfully with a