Business Overview

This is Business is in LOI and not available to New Buyers.

Cleaning Company in Fairfield CT in business since 1989 serving high-income areas in Fairfield county, CT with more than 350+ customers. This is an established, highly trusted by long term customers cleaning business providing all types of cleaning for residential and commercial clients. They also do carpet cleaning, floor polishing & buffing, gutter cleaning services and power washing with environmentally safe and all-natural cleaning products. They have close relationships with real estate companies who hire them to do move-in, move-out cleanings along with being their primary cleaning referral source.

This is an absentee owner business run and managed by 2 full-time, long-term office employees who would like to stay on. There are approximately 8 to 12 long term and dedicated cleaners operating from a centrally located office with 1,000 sq/ft, lease optional. Comes with 7 branded company vehicles used by the cleaners.

They have an active online presence with a well-designed professional website, high Google rating and Angie listing placement.

Owner is looking to retire.

Financial

  • Asking Price: $600,000
  • Cash Flow: $202,000
  • Gross Revenue: $1,140,000
  • EBITDA: $202,000
  • FF&E: $100,000
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 1978

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:1,000
  • Lot Size:N/A
  • Total Number of Employees:12
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

Will provide

Purpose For Selling:

Retirement

Additional Info

The business was established in 1978, making the business 44 years old.

The company has 12 employees and is situated in a building with estimated square footage of 1,000 sq ft.
The property is leased by the company for $0.00

Why is the Current Owner Selling The Business?

There are all types of reasons why people decide to sell businesses. Nevertheless, the real reason vs the one they tell you might be 2 absolutely different things. As an example, they might state "I have way too many various obligations" or "I am retiring". For many sellers, these reasons are valid. But also, for some, these might simply be reasons to attempt to conceal the reality of changing demographics, increased competitors, current reduction in revenues, or a variety of various other reasons. This is why it is really vital that you not count totally on a seller's word, however rather, use the vendor's solution in conjunction with your general due diligence. This will paint a more realistic image of the business's existing circumstance.

Existing Debts and Future Obligations

If the current entity is in debt, which lots of businesses are, then you will certainly need to consider this when valuating/preparing your deal. Many businesses take out loans with the purpose of covering things such as stock, payroll, accounts payable, and so on. Keep in mind that sometimes this can mean that revenue margins are too tight. Numerous organisations fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may likewise be future commitments to consider. There might be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with vendors that have to be satisfied or may lead to penalties if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Just how do operating businesses in the location draw in new consumers? Many times, companies have repeat clients, which develop the core of their daily revenues. Particular aspects such as brand-new competitors sprouting up around the area, road construction, and also personnel turnover can influence repeat customers as well as negatively influence future revenues. One vital point to think about is the location of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the highway? Undoubtedly, the more individuals that see the business regularly, the better the possibility to build a returning customer base. A last thought is the basic location demographics. Is the business situated in a densely populated city, or is it situated on the outside border of town? Just how might the neighborhood typical house earnings impact future revenue prospects?