Listing ID: 81488
Business Overview
This business is a family business specializing in both the fabrication and the installation of aluminum frame commercial windows, doors and curtain walls. For 100 years, the business has served the Midwest, and worked with contractors and architects to provide custom made steel, aluminum and wood products. In addition to windows, this company sells and installs commercial toilet partitions and security systems.
This company is a domestic for-profit corporation operating with two principals/shareholders. The company president is looking to retire. The company has
approximately 35 full time employees, about 15 of which are non-union administrative employees. The union glaziers in which this company employs and hires around the region are some of the best and hardest working people in the industry.
Financial
- Asking Price: $2,100,000
- Cash Flow: N/A
- Gross Revenue: $7,200,000
- EBITDA: $729,620
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1920
Detailed Information
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:74,567
- Lot Size:N/A
- Total Number of Employees:35
- Furniture, Fixtures and Equipment:N/A
Operating in a 74,000sf facility used for product storage and fabrication. Real estate available separately.
Retirement
The strength of this company is its long legacy of high-quality work, the products and brands it installs, the union glaziers and maintenance of the relationships with contractors. The company name is regionally well known and sought after by building contractors with whom they maintain strong relationships with. Growth opportunities for this firm are enormous. The current owner has chosen to keep business opportunities within about a 100-mile radius and keep the job flow to a comfortable level for him. Opportunities in Chicago, IL alone could add significant growth in annual revenue. With union glaziers throughout the country, work could be acquired almost anywhere in the country. Currently, this company has several jobs booked for the months ahead.
Additional Info
The business was founded in 1920, making the business 102 years old.
The company has 35 employees and is situated in a building with approx. square footage of 74,567 sq ft.
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people resolve to sell companies. Nevertheless, the genuine factor and the one they tell you might be 2 entirely different things. For instance, they may claim "I have a lot of other responsibilities" or "I am retiring". For lots of sellers, these reasons are valid. But also, for some, these might simply be justifications to try to hide the reality of transforming demographics, increased competitors, current decrease in revenues, or a range of other reasons. This is why it is really essential that you not count entirely on a seller's word, however rather, use the vendor's solution along with your overall due diligence. This will repaint a more realistic image of the business's present situation.
Existing Debts and Future Obligations
If the current company is in debt, which numerous businesses are, then you will have reason to consider this when valuating/preparing your deal. Numerous businesses take out loans so as to cover 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 fall into a revolving door of taking loans as a way to pay back other loans. Along with debts, there may also be future commitments to consider. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with vendors that need to be satisfied or may result in penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the area draw in brand-new customers? Most times, operating businesses have repeat clients, which form the core of their everyday revenues. Specific factors such as new competition sprouting up around the location, roadway building, and also personnel turnover can affect repeat clients and also adversely influence future profits. One vital point to consider is the placement of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Certainly, the more people that see the business often, the higher the opportunity to construct a returning consumer base. A last idea is the basic area demographics. Is the business situated in a densely populated city, or is it situated on the edge of town? Exactly how might the regional typical house earnings effect future earnings prospects?
