Listing ID: 73614
For more than 40 years, this company has been providing top-tier asphalt and concrete services for residential & commercial clientele throughout Central Ohio. The owner started this mom-and-pop business in Columbus, OH when he was only 16 years old. And what began strictly as a blacktop company has now expanded to include concrete, striping, signage, and winter services, such as snow plowing and deicing. Ranked amongst the top in the industry, this company has built its reputation on quality and customer service and has created a brand that is recognized as a leader throughout Ohio. After now owning this successful company since the early ’80s, this husband & wife team are ready to retire and turn a new chapter in their life. Because of the confidentiality of this listing, proof of funds is required, along with a signed Non-Disclosure Agreement (NDA). Please refer to listing 84541-335820 and advisor Pat Bass when inquiring on this listing.
- Asking Price: $979,700
- Cash Flow: $309,511
- Gross Revenue: $1,989,932
- EBITDA: N/A
- FF&E: $3,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 1984
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:6,000
- Lot Size:N/A
- Total Number of Employees:14
- Furniture, Fixtures and Equipment:N/A
Type of Location Industrial Facilities Centrally Located Monthly Rent $3,000.00 Square Units (Foot, Meter) 6,000
Seller will train for 13 weeks at no cost.
The company was started in 1984, making the business 38 years old.
The business has 14 employees and resides in a building with estimated square footage of 6,000 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 absolutely different things. For instance, they may claim "I have a lot of various commitments" or "I am retiring". For numerous sellers, these reasons are valid. But also, for some, these might just be excuses to try to hide the reality of changing demographics, increased competitors, current decrease in incomes, or a range of other reasons. This is why it is really important that you not depend completely on a vendor's word, however instead, use the seller's solution along with your general due diligence. This will paint a more reasonable picture of the business's present situation.
Existing Debts and Future Obligations
If the current company is in debt, which lots of businesses 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 inventory, payroll, accounts payable, etc. Remember that in some cases this can imply that earnings margins are too tight. Lots of companies 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 obligations to consider. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with suppliers that have to be fulfilled or might cause penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the location attract new clients? Often times, operating businesses have repeat consumers, which create the core of their everyday profits. Certain variables such as new competitors sprouting up around the area, road building and construction, as well as personnel turn over can influence repeat customers as well as negatively influence future earnings. One vital point to take into consideration is the location of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the main road? Certainly, the more people that see the business regularly, the higher the chance to build a returning customer base. A final idea is the general location demographics. Is the business located in a densely populated city, or is it situated on the edge of town? Just how might the neighborhood typical house earnings influence future income prospects?