EXECUTIVE SUMMARY

The Company provides luxury decor rentals, creating beautiful and elegant weddings and other event settings on one of Hawaii’s tropical paradise islands. The rentals include a wide assortment of table linen, chairs, chair covers, draping, lighting, and other related accessories. The rentals offered are for customers desiring a refined and elevated feel for their weddings or other events. Weddings are over 90% of their sales.  Hawaii is one of America’s top destination wedding locations and many of their customers are visitors to Hawaii.  It is long tenured and well established in the lucrative wedding market on the island, and they are known for providing excellent customer service, quality products, reliability, and timely execution on the day of the event.

 

Considered one of the top rental linen providers on the island, the business is on the preferred vendors list for all of the major island hotels, which are major wedding venues in Hawaii.

 

They have a massive inventory of rental and décor items plus all of the other tangible (furniture, vehicles, etc.) and intangible (trade name, website, customer contracts, etc.) assets, which will be included in the transaction. 

 

In 2022, they had sales of $791,665, which generated $292,000 of owner’s profits (“SDE”). The business is being offered for sale on a fully turnkey basis.  They have a strong contracted backlog of events.  For example, as of 12/31/2022 they had customer deposits (50% of total) on the balance sheet backing up over $345,000 of contracted business for 2023 and 2024.

 

The Business does not require much capital investment and due to customer deposits, they operate with a negative net working capital basis.

 

INVESTMENT HIGHLIGHTS

• Good historical sales growth and a highly profitable business.

• Low cost and centrally located warehouse/office facility so they can easily provide excellent service to the major venues where luxury weddings are held.

• Hawaii is a highly desired location for destination weddings.

• Well established and long tenured business with an excellent reputation among venues, wedding planners, and brides.

• Fairly easy to operate the business.

• Excellent long tenured sales and operations team.

• They have an excellent sales quotation success rate.During the last 2 years they closed 81.5% of their quotes.

 

Offered on a fully turnkey basis with all needed tangible and intangible assets including the owners providing a 5-year non-competition agreement and two weeks of training, beginning at closing, for the buyers.

 

To receive our detailed 80+ page Confidential Profile for this fun and easy to operate business which includes tax return based financial details please contact Hawaii Business Sales.

 

 

COMPANY

Listing ID:  HI Wedding Decor

Location: Hawaii, Island Confidential

Type of Entity:  Corporation

Years Established: over 14 years

Industry or Business Category: Rentals

 

FINANCIAL SUMMARY

     2022, Tax Return Data

Revenue: $791,665

SDE: $292,007

 

OFFERING SUMMARY

Asking Price:  $795,000

Inventory included in the Price:  No Inventory of goods for sale.

Tangible Assets (F,F&E):  An estimated $245,000 of rental items, furniture & fixtures, warehouse items and vehicles.

Non-Compete:  5 years

Training:  Two (2) weeks

Sale Reason:  Moving to mainland to be near family.

 

LOCATION DETAILS

Status: Leased, new location beginning May 2023.

Sq. Ft.: 2,955

Monthly Rent: $5,353 including CAM and HI GET; $64,240 per year; and $1.73 per sq. ft./month

Lease Expiration Date: 6/14/2024

Renewal options: None, but they expect the landlord would be happy to renew.

Located close to customers and includes full warehousing and office facilities.

 

CUSTOMERS

90% are both Hawaii residents and visitors getting married.  About 60% of customers are visitors to Hawaii.

 

EMPLOYEES

15, excluding the owners.

 

COMPETITION & Pros and Cons of Business

They have set-ups competition, and they differentiate themselves from the competition with excellent customer service from time of inquiry to the day of execution, timely communication, on time for set ups & breakdowns on the day of the event, high quality products.  They  compete on price, service, date availability & product availability.

 

EXPANSION OPPORTUNITIES

• Expand marketing and add the resources to take on more events and expand the rental offerings.They are turning down events now.To take on more events, they will need more employees to be hired to prepare items during the week and more employees would need to be hired for event execution on the day of the event.There would not be a need to add more sales support.

• There is a need in the market for rentals including a large variety of chairs, linen, lounge furniture, bar fronts & stands, dishware, tents, tent draping and lighting.The easiest expansion would be to purchase more specialty linen, chairs, dishware, and lounge furniture.

• Marketing to other Hawaii islands.

 

TRADING DAYS/HOURS

Office:

Monday -Thursday 8:00am - 4:00pm

Friday - 8:00am - 3:00pm

Warehouse:

Sunday- Thursday 8:00am - 4:00pm

Friday - 7:00am - 3:00pm

 

LICENSING REQUIREMENTS

No special licensing or permitting required.