Business Overview

20+ years old established business with a steady income and proven success. Recognized as one of the longest continuously running businesses providing home repairs and remodeling services for homeowners and commercial locations.

The current market that they serve in has been sought after for years, with many people inquiring to purchase the area, as it is a great demographic for this business. This business services Greater Richmond and the surrounding area.

Financial

  • Asking Price: $650,000
  • Cash Flow: $264,830
  • Gross Revenue: $1,067,033
  • EBITDA: N/A
  • FF&E: $60,000
  • Inventory: $3,000
  • Inventory Included: Yes
  • Established: 2001

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:1,131
  • Lot Size:N/A
  • Total Number of Employees:7
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

2 weeks

Purpose For Selling:

other interest

Additional Info

The business was started in 2001, making the business 21 years old.
The transaction does include inventory valued at $3,000, which is included in the listing price.

The company has 7 employees and is situated in a building with estimated square footage of 1,131 sq ft.
The real estate is leased by the business for $1,553.24 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons people decide to sell businesses. Nevertheless, the true factor and the one they tell you may be 2 entirely different things. For instance, they might say "I have too many other responsibilities" or "I am retiring". For lots of sellers, these factors stand. But, for some, these may just be excuses to attempt to hide the reality of altering demographics, increased competition, recent decrease in revenues, or a variety of other reasons. This is why it is very crucial that you not rely entirely on a vendor's word, but rather, utilize the vendor's solution combined with your general due diligence. This will repaint a much more sensible image of the business's existing situation.

Existing Debts and Future Obligations

If the existing business is in debt, which numerous businesses are, then you will need to consider this when valuating/preparing your deal. Numerous operating businesses borrow money so as to cover things like stock, payroll, accounts payable, so on and so forth. Keep in mind that sometimes this can imply that earnings margins are too thin. Many businesses fall under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may likewise be future commitments to consider. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with vendors that must be met or may cause charges if terminated early.

Understanding the Customer Base, Competition and Area Demographics

How do companies in the area attract new consumers? Often times, companies have repeat customers, which create the core of their everyday revenues. Particular elements such as new competition growing up around the location, road building, and personnel turn over can impact repeat customers as well as adversely influence future earnings. One essential point to take into consideration is the location of the business. Is it in a very trafficked shopping center, or is it concealed from the highway? Clearly, the more people that see the business often, the greater the possibility to develop a returning consumer base. A final idea is the general area demographics. Is the business placed in a largely populated city, or is it located on the edge of town? How might the local median home income influence future income potential?