Listing ID: 73829
Garage door installation company established for 25+ years in Lexington, KY. The business services customers in Lexington and the surrounding area, approximately 60-70 miles out. Business is established as a leader in the industry and has seen recent growth with approximately $2.7M sales in 2021
Current Owner handles all marketing and sales efforts, and growth has come from repeat business and referrals. A motivated buyer could use additional marketing and sales efforts to continue to the momentum and increase sales and resulting cash flow.
All FFE included in purchase price and valued at $475,000.
Real estate is available for purchase at an additional price and is valued at $900,000. Inventory also available for purchase at additional price and currently valued at
Owner is very motivated and is looking to retire and spend more time with family. They are open to transition with a buyer and offer longer term support. Great opportunity to increase marketing efforts and sales for greater cash flow. This is a great business and a fantastic opportunity for expansion.
Business and real estate have been approved for SBA loan.
Reply to Mike@Hedge-financial.com if interested.
- Asking Price: $575,000
- Cash Flow: $300,000
- Gross Revenue: $2,700,000
- EBITDA: N/A
- FF&E: $475,000
- Inventory: $325,000
- Inventory Included: N/A
- Established: 1996
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:15
- Furniture, Fixtures and Equipment:N/A
Owner willing to fully transition
The business was founded in 1996, making the business 26 years old.
The deal won't include inventory valued at $325,000*, which ins't included in the listing price.
The company has 15 employees and is located in a building with approx. square footage of N/A sq ft.
Why is the Current Owner Selling The Business?
There are all types of reasons individuals resolve to sell businesses. However, the true reason vs the one they say to you might be 2 entirely different things. For instance, they may claim "I have too many other responsibilities" or "I am retiring". For numerous sellers, these reasons stand. However, for some, these may simply be justifications to try to hide the reality of altering demographics, increased competition, recent reduction in profits, or a variety of other factors. This is why it is very vital that you not depend absolutely on a vendor's word, but instead, make use of the vendor's answer together with your general due diligence. This will repaint a more realistic image of the business's current scenario.
Existing Debts and Future Obligations
If the current company is in debt, which many companies are, then you will have reason to consider this when valuating/preparing your deal. Lots of businesses borrow money in order to cover things such as supplies, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can suggest that revenue margins are too tight. Numerous businesses come under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may additionally be future obligations to take into consideration. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing agreements with vendors that should be met or might result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the area bring in new clients? Many times, businesses have repeat customers, which create the core of their daily profits. Particular factors such as new competitors sprouting up around the location, road construction, as well as personnel turnover can influence repeat customers as well as negatively impact future profits. One essential point to take into consideration is the location of the business. Is it in a highly trafficked shopping center, or is it concealed from the main road? Undoubtedly, the more people that see the business on a regular basis, the greater the chance to build a returning consumer base. A final thought is the general area demographics. Is the business located in a densely inhabited city, or is it located on the outside border of town? Exactly how might the local average family income influence future revenue prospects?