Dear Reader,

This is the information that I want to share with you regarding the Eagle Ridge Furniture Company, store in Victoria, BC.

NOTE: The price has just been reduced to "BEST OFFER" for quick sale.  My internet business is taking all my time so I'm likely forced to accept the best offer I get this week.

Inventory is about $85,000 +- right now. We are moving to Vancouver (White Rock) and want to finalize the store sale so that an early summer move is possible.

The store is located in downtown Victoria, on the waterfront side of the 3rd floor of the historic Capital Iron building at 1900 Store Street.

The Capital Iron Building is one of the best known buildings in the Victoria area. The store gets a lot of walk through traffic from Capital Iron customers going to the fabric department. There is good signage on the front of the building, within the front door of Capital Iron, and within the Capital Iron store and also the Eagle Ridge Furniture store.

There is plenty of free parking, and an elevator for both customers and receiving and shipping stock.

The lease is now at $2,200 per month inclusive, plus tax.  And that goes up to $2,300 per month on Sept. 1st for the next year.  Capital Iron has said  they will want to renew the lease after the present one expires.  The relationship with Capital Iron is great.  At present there is 1¼ years left on lease.  Heat, electricity, garbage, etc. etc. is all included in the rent.

As for deliveries, I now farm that out to a delivery company which makes the business very easy to operate. The delivery company takes care of shipments going out. There is the odd thing that we need our van for though so a van would be very helpful. There is a lease on the Van which may be taken over by the new owner if desired.

I will include in the price of the store, myself working with the purchaser for 10 days (about 4 hours per day) when the new owner takes over.  This could be over a 2 or 3 week period. I'm sure my bookkeeper would also be willing to come in and show you how to take over the books.  She charges $27per hour so one 4 hour lesson should be all you would need. The store is totally set up with Simply Accounting. The inventory is in there as well.

We are looking to sell the store as soon as possible, and I would like all my training of the new owner completed as soon as possible as well.

There are 3 domain names included with the store:

Eagleridgefurniture.com - this is the stores main website. It is operational now, but the web site could be greatly improved.

Pine.ca - this is the best domain name in Canada for "pine". There is an old website at this domain now, but we don't use it. This could be redone and developed into a high traffic website selling pine furniture from the internet.

FurnitureVictoria.com - This is the best domain name for furniture in Victoria. This domain is forwarding to the main store site right now. This domain has the two main search engine words, in the correct order, to be right at the top of the search engines for this search: "furniture Victoria" With a little bit of development this would easily be right at the top of all search engines, including Google, for these two search terms.

Here is some more information on the store itself and the suppliers:

The store is about 2,500 + square feet, and has a stock room and an upper mezzanine area. We sell only solid real pine and oak furniture. We do get in to birch sometimes as well. We don't make any ourselves, but have various suppliers and a main craftsman that makes our custom furniture.

Here is a list of our main suppliers:

1. Canwood, which supplies us with high quality KD (knock down), pine furniture, and is located in Penticton, is our main supplier. We are one of only two stores in the Victoria area that is a dealer for  Canwood. They will not offer the dealership to any other store in this area and the furniture is in high demand. I would say that 40% of our business is in Canwood.

We have 6 other main suppliers that are approximately each 10% to 15% of our business:

2. Hubers in Salmon Arm, B.C. We mainly sell their bedroom suites.  They have very high quality Pine and Oak furniture. I believe we are the only store in the Victoria area that carries Huber's.

3. Hotzon, in Langley, B.C. We sell their Entertainment units and bookcases mainly. They have Pine, Oak, and Birch, and they are the best Entertainment units that we have seen anywhere.

4. Briarwood, in Vancouver. A very nice line of solid pine bookcases.

5. Dusty Stan, in Duncan, on the Island here. He makes solid pine furniture.  We have some of his furniture on our floor, but mostly we take orders for custom made stuff that he builds.

6. We also sell solid rubberwood dining room and kitchen tables and chairs, imported from Malaysia mainly. Our suppliers are Wedgwood and Winners, both of which are in Vancouver. This is about 10% to 15% of our business.

There are also a couple of other smaller suppliers.

Inventory is now around $85,000. Most of the inventory is the full line of Canwood furniture that we have in the stockroom. I would say that we have about $25,000 on the showroom floor and the rest is in the stockroom.

As I already mentioned, there is a Van which is leased. It is about 1 1/2 years old, in perfect condition, and has very nice logo and signage on it.  It gets noticed. It could be the main delivery vehicle if that was what the new owner wanted to do, or the present delivery company could be continued to be used. I also have a brand new large pine front sign on the store, and a very nice pine sign inside both the entrance and exit of Capital Iron, and a pine sandwich board sidewalk sign. Various other new signs within the store have also recently been installed. The store looks nice, and the view is great.

I have made sure that we have the best yellow page ad in the Victoria Telus Telephone directory. It is the largest one in there and highlights the Canwood furniture.

Well, that's it for now. I hope this information helps you to understand the store better. Please do not hesitate to contact me with any other questions you may have.

Regards,

Steve

Steve@stevemitchell.com 
Home Office: (250) 391-0615
Store: (250) 386-8733
Cel: (250) 361-6742