Listing ID: 79524
Long established Locksmith company, with an actual storefront, is now available. The store has been around for decades and does a lot of city and county work, as well as many other established commercial clients. They also cater to residential customers and have several vehicles on the road for service. An additional portion of their sales includes the sales and installations of all different size safes. The real estate is available for purchase. This is a full, turn-key opportunity, and sellers will make a smooth transition.Please refer to listing #3353-737041, Agent Joseph Nicolini when inquiring about this listing. Lender Pre-Qualified. Thank you!
- Asking Price: $449,000
- Cash Flow: $155,149
- Gross Revenue: $862,339
- EBITDA: N/A
- FF&E: $90,000
- Inventory: $25,000
- Inventory Included: Yes
- Established: 1925
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,640
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
Building Type: Free Standing Company was established in 1925, yes a 96 year -old company
Will train for 2 weeks @ no cost
Most locksmiths are now mobile units whereas this business has a beautiful and easily accessible storefront location
Networking with property manages, condo and homeowner associations should increase business
The venture was founded in 1925, making the business 97 years old.
The sale shall include inventory valued at $25,000, which is included in the listing price.
The business has 4 employees and is located in a building with estimated square footage of 2,640 sq ft.
The property is leased by the business for $4,300 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons why people resolve to sell operating businesses. Nevertheless, the genuine factor and the one they tell you might be 2 totally different things. For instance, they may say "I have too many other commitments" or "I am retiring". For lots of sellers, these factors are valid. But, for some, these might simply be excuses to try to conceal the reality of altering demographics, increased competitors, recent reduction in earnings, or a variety of other reasons. This is why it is extremely essential that you not rely entirely on a vendor's word, but instead, use the seller's answer in conjunction with your overall due diligence. This will paint a much more sensible picture of the business's current scenario.
Existing Debts and Future Obligations
If the current business is in debt, which lots of businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of businesses finance loans in order to cover things such as stock, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can mean that earnings margins are too small. Many companies come under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may also be future obligations to think about. There may be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with suppliers that have to be satisfied or might cause penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location bring in new customers? Most times, companies have repeat customers, which form the core of their daily profits. Specific elements such as brand-new competitors sprouting up around the area, roadway construction, and personnel turnover can affect repeat consumers as well as adversely impact future earnings. One vital thing to think about is the location of the business. Is it in a very trafficked shopping mall, or is it hidden from the main road? Clearly, the more individuals that see the business on a regular basis, the better the possibility to develop a returning client base. A final thought is the general area demographics. Is the business situated in a densely inhabited city, or is it situated on the outskirts of town? Just how might the neighborhood typical family earnings impact future revenue prospects?