Listing ID: 73239
This business just received the 2021 General Contractor of the Year Award and is also a finalist for the 2021 Roofing Contractor of the Year! Great Achievements from a Great Company!!
Premier local roofing company servicing the community for over 4 years. Specializing in residential roof repair and replacement. They have Increased sales each year since start up.
The company has established relationships with their clients and are in a position for 25% growth in 2021. Excellent opportunity for someone wanting to take an established, well run business to the next level of profitability and success.
They have won multiple awards each year (including their newest awards listed above) and are well-known in the community for their outstanding products and customer service, they have over one hundred 5-star Google reviews, A+ BBB ratings, offering a plethora of services to their customers, and they have an impeccable brand! This business is a wonderful opportunity for the next owner!
Large growth opportunity though expansion into surrounding markets or through mobile teams to service storm damaged areas.
Company has limited staff and manages sales and projects using independent sales and installation contractors. This allows the company to quickly scale depending on demand to maintain maximum probability.
- Asking Price: $690,000
- Cash Flow: $473,060
- Gross Revenue: $3,120,505
- EBITDA: N/A
- FF&E: $98,000
- Inventory: N/A
- Inventory Included: Yes
- Established: 2017
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,500
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
This market area regularly gets storm damage that generates profitable residential and commercial reroofing projects. Maintenance and repair projects are smaller, but more profitable and help develop future customers. Strong company brand and quality of service drives significant referral business.
In previous years, the seller has opened temporary offices in surrounding markets to leverage significant storm damage opportunities. Although highly profitable, this can be time consuming. Since most revenues are driven by current or previous storm damage, there is an opportunity to expand into other storm damage services, including siding repairs & painting, fence/deck repairs and staining, etc. These services can also be fulfilled using subcontractors
The venture was established in 2017, making the business 5 years old.
The business has 4 employees and is situated in a building with estimated square footage of 1,500 sq ft.
The building is leased by the company for $1,316 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people choose to sell companies. Nonetheless, the genuine reason vs the one they say to you may be 2 completely different things. As an example, they may claim "I have too many other obligations" or "I am retiring". For lots of sellers, these reasons are valid. But, for some, these might just be justifications to attempt to hide the reality of changing demographics, increased competitors, current decrease in earnings, or an array of various other factors. This is why it is really essential that you not rely totally on a seller's word, however instead, utilize the vendor's answer combined with your general due diligence. This will paint a more practical picture of the business's current circumstance.
Existing Debts and Future Obligations
If the existing entity is in debt, which lots of businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Many operating businesses borrow money so as to cover points such as inventory, payroll, accounts payable, etc. Keep in mind that sometimes this can indicate that revenue margins are too tight. Numerous businesses come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may likewise be future commitments to take into consideration. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with vendors that have to be met or may result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the location attract brand-new customers? Often times, companies have repeat clients, which form the core of their everyday profits. Particular variables such as new competitors sprouting up around the location, road building and construction, and staff turnover can impact repeat clients and also negatively affect future profits. One crucial point to consider is the placement of the business. Is it in a highly trafficked shopping center, or is it concealed from the main road? Obviously, the more people that see the business often, the greater the chance to construct a returning customer base. A final idea is the general area demographics. Is the business placed in a largely inhabited city, or is it situated on the outskirts of town? Exactly how might the neighborhood average home income effect future revenue potential?