Listing ID: 70206
Iconic and highly successful West FL survey and mapping business is looking for a new owner. 2021 WA$ and INCREDIBLE year. The ideal Buyers could be engineering or architectural firms or multi-dimensional organizations seeking a survey & mapping company to add to their existing portfolio.This company also presents an excellent opportunity for out of State or FL based survey & mapping companies to strategically acquire this amazing business along with the Real Estate.The company, which is located in the Manatee/ Pinellas County FL region, is a well-known and well respected family owned and operated enterprise for over 50 years. This company is the go-to land surveying expert in the region for local real estate brokerages, developers, attorneys, city planning departments and other high profile clients. The firm’s CEO is an expert court witness in survey and mapping disputes involving legal cases as well as an advisor to the county’s Property Tax Assessor’s Office. Over the past 50 years, the firm has conducted more than 100,000 surveys and is known for having the most extensive data base of maps and land boundaries throughout the county. The business operates from a 3000+/- sqft office building close to St Petersburg, FL. The Real Estate is owned by the sellers and is INCLUDED in the asking price. The Business and Real Estate are approved for SBA Funding with the Buyer needing ONLY 10% Down!!
- Asking Price: $1,399,000
- Cash Flow: $372,582
- Gross Revenue: $836,668
- EBITDA: N/A
- FF&E: $150,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 1970
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:3,000
- Lot Size:N/A
- Total Number of Employees:12
- Furniture, Fixtures and Equipment:N/A
+/-3000sqft Commercial Zoned Office Building on major road with more than 25,000+/- Cars a day.The Real Estate which is owned by the Seller is included in the asking price. (Home Based)
Owner will provide 2 weeks courtesy transitional training after closing. However,the Seller’s retirement exit strategy is to sell the Business now, so that he can help facilitate the company’s new ownership with transition. At the same time, the Seller wants to see the company’s legacy continue and the Buyer to succeed. Seller would like to continue working for the Buyer at an agreed upon compensation (in whatever desired capacity) for 1 to 2 years until he retires.
Normal market competition exists
Currently, the company is open Mon to Fri during normal business hours. However, there is a back log of work for 6 weeks.A new owner could hire an additional field surveying crew and open on Saturday to do surveys.
The company was started in 1970, making the business 52 years old.
The business has 12 employees and is situated in a building with disclosed square footage of 3,000 sq ft.
Why is the Current Owner Selling The Business?
There are all sorts of reasons people choose to sell operating businesses. Nevertheless, the true factor and the one they say to you might be 2 completely different things. For instance, they might claim "I have way too many various commitments" or "I am retiring". For lots of sellers, these reasons are valid. But also, for some, these might simply be excuses to try to hide the reality of changing demographics, increased competitors, current reduction in incomes, or an array of various other reasons. This is why it is very vital that you not count totally on a seller's word, but rather, make use of the vendor's solution together with your overall due diligence. This will paint an extra realistic image of the business's present scenario.
Existing Debts and Future Obligations
If the current business is in debt, which lots of companies are, then you will certainly need to consider this when valuating/preparing your offer. Lots of operating businesses take out loans with the purpose of covering things like inventory, payroll, accounts payable, and so on. Bear in mind that sometimes this can mean that revenue margins are too small. Many companies fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may likewise be future commitments to consider. There might be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with vendors that must be fulfilled or may lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location draw in new customers? Most times, businesses have repeat consumers, which develop the core of their day-to-day revenues. Particular variables such as brand-new competition growing up around the location, road building, and also personnel turnover can influence repeat clients and negatively influence future incomes. One essential point to consider is the placement of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Obviously, the more individuals that see the business regularly, the better the chance to build a returning consumer base. A final idea is the general location demographics. Is the business placed in a densely inhabited city, or is it located on the outskirts of town? Exactly how might the regional median house income influence future revenue potential?