Listing ID: 72638
This Northern California window and door manufacturer has built amazing customer loyalty after 35 years in business. They design and make custom windows and doors for luxury homes, commercial buildings, offices and hospitals.
This is a custom design and manufacturing company. They do no installations. All products are delivered to the job site or picked up by the customer. They employ the latest technologies in woodworking and design to create old-world craftsmanship that customers seek out.
• 35 years of profitable operations in same location
• Custom designs and manufacturing – no installations
• Highly organized 13,000 sq. ft. manufacturing shop
• Serving homes, hospitals, retailers, industrial, apartments
• Very healthy balance sheet with no long-term debts
• Downturn-resistant business thanks to high-income customers
• No contractor license required for ownership
• Owner willing to stay as employee during transition
Their custom-designed products are built and tested to the highest industry standards before going into fine luxury homes and commercial buildings. Their millworkers use the finest woods, glass and hardware elements to create gorgeous products which grab the eye.
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- Asking Price: $1,600,000
- Cash Flow: $516,698
- Gross Revenue: $3,973,286
- EBITDA: N/A
- FF&E: $200,000
- Inventory: $88,000
- Inventory Included: Yes
- Established: 1987
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:13,000
- Lot Size:N/A
- Total Number of Employees:10
- Furniture, Fixtures and Equipment:N/A
The sellers own the 13,000 square foot industrial/office building which has been home since the early 1990’s. They plan to retain ownership of the property and lease it out to the new business owner.
The owners are looking to retire after spending much of their lives building this amazing business. This could be a turnkey opportunity for an experienced window and door maker or others in the construction trades. The owners believe their longtime general manager will want to remain in place long after closing.
Retirement. Family has owned and operated for 35 years.
The company’s current balance sheet boasts more than $1 Million in retained earnings while both owners have been taking substantial salaries. The 10 employees are well compensated and most have been with the company more than a decade.
Strong P&L’s and balance sheets point to years of successful, profitable operations. Revenues have exceeded $3 Million every year recently, occasionally poking above the $4 Million mark.
The venture was started in 1987, making the business 35 years old.
The deal shall include inventory valued at $88,000, which is included in the suggested price.
The company has 10 employees and is situated in a building with disclosed square footage of 13,000 sq ft.
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals choose to sell operating businesses. However, the real factor vs the one they say to you may be 2 completely different things. As an example, they might state "I have too many other obligations" or "I am retiring". For numerous sellers, these reasons stand. However, for some, these might just be justifications to try to hide the reality of altering demographics, increased competition, current reduction in revenues, or a range of other factors. This is why it is really crucial that you not depend absolutely on a seller's word, yet rather, use the seller's response combined with your overall due diligence. This will paint a much more reasonable picture of the business's current situation.
Existing Debts and Future Obligations
If the current business is in debt, which lots of businesses are, then you will certainly need to consider this when valuating/preparing your offer. Lots of companies finance loans so as to cover points such as supplies, payroll, accounts payable, so on and so forth. Keep in mind that sometimes this can indicate that profit margins are too small. Lots of companies fall under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may additionally be future commitments to consider. There may be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with vendors that should be satisfied or might result in penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location draw in brand-new clients? Often times, businesses have repeat clients, which form the core of their day-to-day earnings. Certain aspects such as new competition growing up around the location, roadway building, as well as employee turnover can affect repeat customers as well as adversely influence future revenues. One important thing to think about is the area of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Clearly, the more people that see the business often, the higher the chance to build a returning client base. A last idea is the basic location demographics. Is the business placed in a densely inhabited city, or is it located on the outside border of town? Exactly how might the neighborhood average house earnings impact future revenue potential?