Western Flooring Showroom Sold for $1.525M, LOI in 29 Days

About the Business

• Industry: Retail – Home Furnishings, Flooring & Area Rugs

• Location: West

• Size: $3M–$4M in annual revenue, serving designers and homeowners

• Sale price: $1,525,000 (asking price: $1,900,500)

• Listing to signed LOI: 29 days

• Signed LOI to close: 203 days

The Challenge: Moving Closer to Family

The husband-and-wife owners wanted to move closer to family in another state.

29 Days to a Signed LOI: Holding the Price Through Setbacks

What happened at every stage

1. Valuation: The business listed at $1.9M, and Baton had it SBA pre-qualified before launch.

2. Buyer Outreach: 80+ buyers viewed the listing, 22 opened the data room, and the owners met with 5 buyers in the first month.

3. Offer Selection and Negotiation Support: With two LOIs on the table, the Baton advisor created competitive tension, and the preferred buyer added $25K to his $1.5M offer. The owners signed 29 days after launch.

4. Diligence and Closing Support: After a second, all-cash buyer dropped out, the original buyer returned at the original price, and financing and closing conditions stretched the timeline. Weekly buyer-seller meetings run by the Baton advisor kept both sides talking until the SBA-financed deal closed 203 days after the LOI.

The Results

The buyer is an experienced home-furnishings retailer who knows the local designer community and runs the showroom hands-on. Through Baton's process, the business:

• Sold for $1,525,000 with SBA financing

• Signed an LOI 29 days after going live

• Kept the original price after a second buyer dropped out

What's next for the owners?

The owners are relocating to be near family after a three-month, part-time transition.

Advice and Lessons for Future Sellers

1. A signed LOI isn't the finish line. Long diligence can test a deal, so keep the relationship with your buyer strong.

2. Hold your terms. Taking the buyer back only on the original price kept the deal intact.

3. Keep a regular cadence. Weekly buyer-seller meetings kept both sides talking through setbacks.