Listing ID: 73832
Garage door installation company established for 25+ years in Elizabethtown, KY. The business services customers in Elizabethtown 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 $325,000
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 company was established in 1996, making the business 26 years old.
The deal doesn't include inventory valued at $325,000*, which ins't included in the suggested price.
The business has 15 employees and resides in a building with approx. square footage of N/A sq ft.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals decide to sell operating businesses. Nevertheless, the genuine factor and the one they say to you may be 2 completely different things. As an example, they might say "I have way too many other obligations" or "I am retiring". For numerous sellers, these factors are valid. However, for some, these might simply be reasons to try to hide the reality of changing demographics, increased competition, current decrease in revenues, or a range of other reasons. This is why it is very essential that you not rely absolutely on a vendor's word, but rather, utilize the seller's solution together with your general due diligence. This will paint an extra sensible image of the business's current scenario.
Existing Debts and Future Obligations
If the current business is in debt, which numerous companies are, then you will have reason to consider this when valuating/preparing your offer. Many operating businesses borrow money with the purpose of covering points such as inventory, payroll, accounts payable, etc. Remember that occasionally this can mean that profit margins are too tight. Numerous organisations come under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future commitments to consider. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with vendors that need to be satisfied or may lead to penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location bring in new customers? Many times, companies have repeat consumers, which develop the core of their everyday revenues. Specific variables such as brand-new competitors sprouting up around the location, roadway building and construction, and staff turnover can impact repeat customers and adversely influence future earnings. One essential point to take into consideration is the placement of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the highway? Clearly, the more individuals that see the business often, the better the opportunity to develop a returning consumer base. A last idea is the basic location demographics. Is the business placed in a densely populated city, or is it located on the edge of town? Just how might the local average home earnings influence future income prospects?