Business Overview

Manufacture of custom truck bodies and flatbeds that fit the truck perfectly. In addition to custom bodies and beds, the business has a standard line of truck beds. They perform truck up fitting services, installation and minor repairs. The business has exclusive dealership rights to the leading tailgate lift brand in their area. There are also TWO ADDITIONAL Profit Centers.

Financial

  • Asking Price: $1,925,000
  • Cash Flow: $462,934
  • Gross Revenue: $1,879,459
  • EBITDA: $409,000
  • FF&E: $96,000
  • Inventory: $680,000
  • Inventory Included: Yes
  • Established: 1960

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:N/A
  • Building Square Footage:28,000
  • Lot Size:N/A
  • Total Number of Employees:11
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

The building and land are owned by the company. 28,000 square feet of building space plus fenced outside storage for inventory and finished products. The facility sits on 8 acres of land.

Is Support & Training Included:

Sellers are willing to train as needed, they may be open to additional support if requested.

Purpose For Selling:

Retirement

Pros and Cons:

This business manufactures custom built truck beds to meet the customers specifications. These premium beds will continue to operate under heavy use, bad weather and look good for years to come. Most of the competition builds cookie cutter products with lighter materials and finishes.

Opportunities and Growth:

Future demand should be strong due to the diverse industries and geographical location of their customer base; if one industry sector slows it does not affect the entire business, making it almost recessions proof. Future, repeat business is virtually assured due to the fact that the end user knows it must have the truck beds and bodies to effectively operate and manage their respective businesses. The current job backlog is over $400,000.

Additional Info

The company was started in 1960, making the business 62 years old.
The deal does include inventory valued at $680,000, which is included in the suggested price.

The business has 11 employees and resides in a building with approx. square footage of 28,000 sq ft.

Why is the Current Owner Selling The Business?

There are all types of reasons why people choose to sell companies. However, the real factor and the one they say to you may be 2 totally different things. For instance, they may state "I have way too many various obligations" or "I am retiring". For lots of sellers, these factors stand. But also, for some, these may simply be excuses to try to conceal the reality of transforming demographics, increased competitors, current decrease in incomes, or an array of various other reasons. This is why it is very crucial that you not count absolutely on a seller's word, however instead, make use of the seller's response along with your total due diligence. This will paint a more sensible image of the business's present circumstance.

Existing Debts and Future Obligations

If the current company is in debt, which lots of companies are, then you will need to consider this when valuating/preparing your offer. Lots of companies take out loans in order to cover points like stock, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can imply that earnings margins are too thin. Many businesses fall into a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future obligations to consider. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with vendors that should be fulfilled or may result in fines if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Just how do businesses in the location draw in new customers? Many times, operating businesses have repeat customers, which form the core of their day-to-day profits. Specific elements such as brand-new competitors sprouting up around the area, roadway building, as well as staff turn over can affect repeat customers and also negatively affect future incomes. One essential point to consider is the area of the business. Is it in a very trafficked shopping center, or is it hidden from the highway? Certainly, the more people that see the business regularly, the better the opportunity to build a returning client base. A last thought is the basic area 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 mean home earnings effect future earnings prospects?