Authorized Apple Dealer with Multiple Locations
This is an opportunity to acquire an authorized dealer of Apple Products with three locations in some of downtown Toronto’s most affluent and bustling neighborhoods. The first location was established in 1995, and since then the company has expanded by adding two more locations, solidifying its long-standing relationship with Apple. The company generates revenue from hardware and accessory sales as well as on and off-warranty service and repairs. The company also has an agreement with Bell, which allows it to sell iPhones on contract. As a part of this agreement, the company is also authorized to sell home internet and television services. This presents an untapped opportunity for a potential buyer to increase revenue and expand margins. Each store has sales representatives and certified Apple service technicians who are annually re-certified as per Apple standards. Moreover, the company has established goodwill with Apple Canada's authorized wholesalers. All three locations have performed well, and the revenue is split approximately equally between the three stores. The company benefits from the strong brand recognition of Apple and has no additional marketing costs. Owner involvement is low as each location has an experienced store manager who is capable of independently managing all store operations. The company has experienced extremely low turnover. It benefits from the experience and knowledge of its employees who can offer excellent customer service on all things Apple. Over the last year, management has implemented several process improvements aimed at optimizing operations through automated inventory management, book-keeping systems and AI Software.
The business was well hedged to survive the pandemic and has experienced a strong surge in demand and profitability over the last two years. An increasing shift towards digitization and virtual workspaces has led to higher demand for Apple products and will continue to generate service revenue over the next few years.
This opportunity is ideal for an entrepreneurial individual with a strong understanding of technology and Software, or a related medium-sized retailer seeking to expand its customer base by adding Apple products to its existing product mix.
*Revenue and profitability is calculated as a 3-year weighted average.