National Flooring Warehouse

I am an Army veteran. Served as a paratrooper in the 82nd Airborne Division from 1974-1977. Additionally, I spent 12 years in the criminal justice system from 1977-1989.

My father served this great country for 30 years seeing combat in WII, Korea and VietNam.  

 

I have been in the flooring business for 30+ years...positions with Shaw-District Manager, Mannington Mills- National Sales Manager Builder Products, Armstrong Floors- GM of Residential Contract Business and LG Hausys-VP of Sales North America....

Started importing and brokering in 2010 after LG had me negotiate a brand partnership with Shaw.....

I partnered with Nox Corporation and brought their US business from $5MM in 2009 to $75MM  annual by 2015. We separated in 2015 because of different customer focused philosophies...

Represented DongShin and brought them $30MM from the Interface business and they cut me and my sourcing partner in Korea out (both of the above were Korean agreements...really, no recourse) 

Partnered with Ilshin and brought them the Engineered Floors and J&J business and focused on building our SurfaceLinx/QuietComfort company and brands....everything going along fine until Dec 2018...EF and Ilshin negotiated a direct deal behind our backs and eliminated our buy-sell agreement with EF....

This led me to focus on building our QuietComfort brand and our National Flooring Warehouse (wholesale to the public) concept.

Also, we once again represent LG Hausys setting up their distribution network in North America as an agency…I have one person focused entirely on this segment.

We have 3 factories I source from…all buy/sell arrangements and no direct contact with my customers…very good quality of Luxury Vinyl Plank, SPC and Rigid Plank

We currently have approx $1MM of inventory focused on WaterProof Flooring and LVP...both are sold thru agents and distributors and National Flooring Warehouse...

I recently negotiated a supply agreement with an East Coast Ceramic Tile distributor with 31 locations...they will be stocking 12 skus and we will back them up OOW prior to and in between containers to start the program. This should help turn inventory and produce $2MM in sales the first year with this distributor at a profit of 12%... 

Just in the past month another tile distributor teamed with us to source product for them to put on Amazon…this will be 4-5 skus offered in the QuietComfort brand. They are also considering Wayfair.

 

As our addition of agents/distributors throughout the US builds, and with a renewed focus with private label/OEM business continues, we need to invest in additional inventory and some working capital...

Banks loans like ABL or SBA are tedious ... and I prefer to find payback with long term vs quick cash

 

I decided to make this additional effort to build this business putting several people to work helping their families enjoy a better life.
 I ordered inventory and hired people to launch our business over the past year and had to borrow money to fund it.

 

Funding from someone willing to take a chance on my idea, efforts and team of workers would be so appreciated. 
 We could repay the funds as the economy opens back and flooring sales grow stronger again. History has allowed us to grow businesses in this category by tremendous numbers. 
 If someone could help me by loaning $1-2MM to pay the factories, keep our business going once we can fully open again, and position our company for growth, we would be so grateful. I project on our current momentum sales of $3MM in 2020 and $6MM in 2021. Our commission (5%) from LG is projected for 2020 at $100K and $250K for 2021.

 

I believe a payback schedule over 2-year period on $1MM would bring the lender a return of 10% per year for a total payback of $1.2MM 

a 3-year period of 10% per year on $2MM would bring a return to the lender of $2.6MM

 

Our current inventory and all purchased inventory in the future would help to secure the funding.

 

Are year to date sales/profit are as follows;

 

Sales Income 1,684,439.04 

Total Cost of Goods Sold 1,357,207.42 

GROSS PROFIT 327,231.62

 

Please contact me directly 919 604 8415