Business Overview

This highly successful hospitality services company in which provided services include valet parking, security, front desk receptionist/concierge, and drivers for high rises and retirement communities is now available for acquisition. Business is easily relocated to your area of Houston. They do contracted service for 9 clients/facilities and their special events business is just now starting up again after COVID made this portion of the business drop off. Security Services are in high demand and this established Security Services unit could be used to expand security services offering on a broader market basis. Each employee of this unit is certified and state licensed to perform the work. This business has provided 5-Star contracted services for many of these clients for over 6-7 years. Seller only spends 5-10 hours/wk in business as he has second business that requires his focus and he has not been able to focus on growing this one as much as a new buyer would be able to. With an extensive screening, on-boarding, and training process for all staff this company takes great care with selecting individuals to work on their team to ensure the highest level of customer service. Approximately 7% of revenues come from driving, 15% concierge, 23% valet parking, 45% security services. A salesperson or focus on advertising/marketing would increase revenues above the 1.7mil currently achieved. Plese refer to CBB Listing #8273

Financial

  • Asking Price: $950,000
  • Cash Flow: $393,081
  • Gross Revenue: $1,729,173
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 2010

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:N/A
  • Lot Size:N/A
  • Total Number of Employees:55
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

Buyer needs to relocate to small office space

Is Support & Training Included:

Seller will train

Purpose For Selling:

2nd business he owns needs his complete focus.

Opportunities and Growth:

Offer additional service such as kitchen staff, waiters, cleaning services. Hire salesperson. Join the following organizations - Leading Age Texas, Houston Apartment Association, and Senior Recourse Guide.

Additional Info

The business was started in 2010, making the business 12 years old.

Why is the Current Owner Selling The Business?

There are all kinds of reasons why people choose to sell companies. Nevertheless, the true factor vs the one they say to you might be 2 entirely different things. For instance, they may state "I have too many various obligations" or "I am retiring". For lots of sellers, these reasons are valid. But also, for some, these might simply be justifications to attempt to hide the reality of altering demographics, increased competitors, recent reduction in revenues, or a range of various other reasons. This is why it is really crucial that you not depend absolutely on a vendor's word, but rather, make use of the vendor's solution combined with your total due diligence. This will repaint an extra practical picture of the business's present scenario.

Existing Debts and Future Obligations

If the current company is in debt, which many companies are, then you will need to consider this when valuating/preparing your deal. Lots of companies finance loans with the purpose of covering things such as inventory, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can indicate that revenue margins are too small. Numerous businesses come under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may also be future commitments to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with vendors that need to be met or might result in fines if terminated early.

Understanding the Customer Base, Competition and Area Demographics

How do operating businesses in the area draw in new clients? Often times, operating businesses have repeat consumers, which develop the core of their day-to-day revenues. Certain variables such as brand-new competitors growing up around the area, roadway construction, and personnel turnover can affect repeat customers and also adversely affect future incomes. One vital thing to take into consideration is the area of the business. Is it in a very trafficked shopping center, or is it concealed from the highway? Undoubtedly, the more individuals that see the business regularly, the better the opportunity to develop a returning customer base. A final thought is the general location demographics. Is the business placed in a densely populated city, or is it located on the outskirts of town? How might the neighborhood median household income effect future revenue potential?