Listing ID: 73503
Provides carpet, tile, and grout, home, office, and vehicle upholstery and area and
oriental rug cleaning, restoration, repair, and scotch guard protection services for its
substantial long standing (greater than 100 years) and loyal residential and commercial customer base at its customers’ sites via trained and certified technicians and state of art vans and within its large customized plant facility that offers one of a kind area rug cleaning capabilities. Also, provides NW Ohio’s premier binding, serging, and refringing capabilities via its unique equipment and trained artisans.
- Asking Price: $375,000
- Cash Flow: $200,000
- Gross Revenue: $900,000
- EBITDA: $200,000
- FF&E: $200,000
- Inventory: $5,000
- Inventory Included: Yes
- Established: 1900
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:11,700
- Lot Size:N/A
- Total Number of Employees:10
- Furniture, Fixtures and Equipment:N/A
Such consists of approximately 11,700 sq. ft. of building on approximately 1.3 acres of land. The building contains a clear span steel construction warehouse, a steel sided and split block office extension, plus a customized 22’ x 40’ high ceiling drying room with hoists, fans, and separate heating units. There is sufficient parking in front for customers and a fenced parking area in rear. Security system throughout.
Owners will train and transition.
Well known & well established - only factory area rug machine in area.
New ownership enthusiasm can greatly reinvigorate growth.
The venture was started in 1900, making the business 122 years old.
The deal shall include inventory valued at $5,000, which is included in the asking price.
The company has 10 employees and resides in a building with disclosed square footage of 11,700 sq ft.
Why is the Current Owner Selling The Business?
There are all types of reasons people choose to sell businesses. However, the real reason and the one they say to you may be 2 totally different things. For instance, they might say "I have way too many other obligations" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these might just be justifications to try to hide the reality of changing demographics, increased competition, recent reduction in earnings, or a variety of various other factors. This is why it is extremely important that you not count completely on a seller's word, but rather, use the seller's response combined with your general due diligence. This will paint an extra realistic picture of the business's existing circumstance.
Existing Debts and Future Obligations
If the current business is in debt, which many businesses are, then you will certainly need to consider this when valuating/preparing your offer. Many operating businesses finance loans in order to cover things such as supplies, payroll, accounts payable, and so on. Bear in mind that in some cases this can imply that earnings margins are too tight. Lots of organisations come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may also be future commitments to think about. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with vendors that have to be fulfilled or might cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location bring in brand-new consumers? Often times, businesses have repeat clients, which form the core of their daily revenues. Particular elements such as brand-new competition sprouting up around the location, roadway construction, and also staff turn over can affect repeat consumers as well as adversely affect future revenues. One vital thing to think about is the location of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Undoubtedly, the more individuals that see the business regularly, the greater the chance to build a returning client base. A final thought is the general area demographics. Is the business situated in a largely populated city, or is it situated on the outside border of town? Just how might the neighborhood average family income impact future earnings potential?