Listing ID: 76667
THIRD GENERATION BUSINESS! Garage Door Company has been selling garage doors, overhead doors, in both residential and commercial markets since 1972.
Their longevity in varying economic times is a testament to their core business values, reputation, and excellent service.
Fully Staffed. Owner is living OUT OF STATE. Business survived COVID!
Several opportunities for growth.
Seller will train, help with transition, and may offer financing to the right buyer
- Asking Price: $295,995
- Cash Flow: $94,848
- Gross Revenue: $626,013
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
The property is leased by the business for $0.00
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals resolve to sell businesses. However, the true factor vs the one they say to you may be 2 completely different things. For instance, they might state "I have a lot of other responsibilities" or "I am retiring". For numerous sellers, these reasons stand. But also, for some, these might just be reasons to attempt to conceal the reality of transforming demographics, increased competition, recent decrease in profits, or an array of other reasons. This is why it is really important that you not count totally on a seller's word, but rather, utilize the vendor's response along with your total due diligence. This will repaint a much more practical picture of the business's present scenario.
Existing Debts and Future Obligations
If the existing entity is in debt, which numerous businesses are, then you will certainly need to consider this when valuating/preparing your deal. Lots of companies take out loans with the purpose of covering things like supplies, payroll, accounts payable, etc. Keep in mind that in some cases this can suggest that earnings margins are too tight. Lots of organisations come under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may additionally be future obligations to take into consideration. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with suppliers that have to be met or might lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the area attract new clients? Often times, operating businesses have repeat consumers, which form the core of their daily revenues. Particular variables such as brand-new competitors sprouting up around the area, roadway building and construction, as well as staff turnover can affect repeat clients as well as negatively influence future revenues. One essential thing to consider is the location of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Undoubtedly, the more people that see the business on a regular basis, the higher the possibility to develop a returning client base. A final thought is the basic location demographics. Is the business located in a densely inhabited city, or is it located on the outskirts of town? Just how might the local median home income impact future income prospects?