This product comes assembled except for the legs.  You just screw them on and are ready to go.  The pad is much more dense and comfortable than I expected  I use this as a guest bed in an office.  

Pros: Great value for price.  Looks good, comfortable as both couch and bed
Cons: A little bit smaller then I had imagined, it's not much bigger than a twin mattress when opened.  Not really big enough for two guests but fine for one.