Listing ID: 79219
For more than 20 years this acclaimed high-end general contractor has executed to perfection the most exclusive and sophisticated interior finishing and renovation projects in South Florida. With a stellar reputation, a prestigious domestic and international clientele, and an impeccable track record, this company has established itself as the first choice of top designers, developers, realtors, and elite clients in Miami. Specialized in luxury oceanfront condominiums, with a very well-developed brand, high profile corporate image, and extensive media exposure. This is a unique opportunity for a domestic or international buyer, willing to penetrate the highly desired and extremely profitable market niche of luxury condos and residences in Miami. This business is already pre-qualified for a $5MM SBA loan. The seller is willing to finance 10% over 24 months. All prospects must be qualified through a listing broker before any further disclosure. BIO showing experience in the sector and proof of funds are mandatory. Please refer to listing number 0101774246, business broker Tom Milana 5617026867 when inquiring about this listing.
- Asking Price: $7,000,000
- Cash Flow: $3,015,039
- Gross Revenue: $14,104,549
- EBITDA: N/A
- FF&E: $50,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2006
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:4,000
- Lot Size:N/A
- Total Number of Employees:20
- Furniture, Fixtures and Equipment:N/A
Lease/Month: 11,500 Square Footage: 4000 Building Type: Strip Center / Showroom /Office Terms & Options: Expiration Date: 10/30/2023
Weeks Training: 4 Cost: $0
Retirement from industry, family relocation
Non Compete : Miles: 100 Years: 3
The venture was started in 2006, making the business 16 years old.
The business has 20 employees and is situated in a building with disclosed square footage of 4,000 sq ft.
The property is leased by the company for $11,500 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals resolve to sell operating businesses. Nonetheless, the real reason vs the one they say to you may be 2 totally different things. As an example, they may claim "I have too many other commitments" or "I am retiring". For many sellers, these factors are valid. But also, for some, these may just be justifications to attempt to hide the reality of changing demographics, increased competition, recent decrease in incomes, or a range of various other factors. This is why it is extremely crucial that you not count entirely on a vendor's word, yet rather, use the vendor's solution together with your overall due diligence. This will paint a more practical image of the business's existing situation.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of companies are, then you will have reason to consider this when valuating/preparing your deal. Lots of businesses take out loans in order to cover things such as supplies, payroll, accounts payable, etc. Bear in mind that sometimes this can mean that earnings margins are too tight. Numerous organisations fall under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may also be future obligations to think about. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with suppliers that must be satisfied or might lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area attract new clients? Most times, businesses have repeat consumers, which form the core of their everyday revenues. Certain factors such as brand-new competitors sprouting up around the location, roadway construction, and also staff turnover can influence repeat clients and also adversely influence future revenues. One vital thing to take into consideration is the area of the business. Is it in an extremely trafficked shopping center, or is it concealed from the main road? Clearly, the more individuals that see the business regularly, the greater the chance to construct a returning consumer base. A last idea is the basic area demographics. Is the business situated in a largely inhabited city, or is it located on the outskirts of town? How might the local median house income influence future income prospects?