Business Overview

Well Established Boat fiberglass repair service, most claims with insurance, Business expanding as more growth in the boating industry with recent record boat sales. The owner works part-time with a fully staffed and experienced crew. The owner is ready to retire.

Financial

  • Asking Price: $399,000
  • Cash Flow: $154,573
  • Gross Revenue: $423,038
  • EBITDA: N/A
  • FF&E: $60,000
  • Inventory: $2,000
  • Inventory Included: Yes
  • Established: 1982

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:3,000
  • Lot Size:N/A
  • Total Number of Employees:5
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

Fully equipped facility with painting room, two offices.

Is Support & Training Included:

30 days

Purpose For Selling:

ask seller

Additional Info

The business was founded in 1982, making the business 40 years old.
The transaction will include inventory valued at $2,000, which is included in the suggested price.

The business has 5 employees and resides in a building with disclosed square footage of 3,000 sq ft.
The building is leased by the company for $2,756 per Month

Why is the Current Owner Selling The Business?

There are all kinds of reasons people decide to sell businesses. Nevertheless, the real factor and the one they say to you might be 2 completely different things. For instance, they might claim "I have way too many various responsibilities" or "I am retiring". For numerous sellers, these reasons stand. But, for some, these might simply be excuses to try to hide the reality of altering demographics, increased competitors, recent decrease in incomes, or a variety of other reasons. This is why it is very vital that you not count completely on a vendor's word, yet instead, utilize the seller's solution in conjunction with your total due diligence. This will paint a more practical image of the business's existing circumstance.

Existing Debts and Future Obligations

If the current business is in debt, which lots of companies are, then you will certainly need to consider this when valuating/preparing your deal. Lots of companies finance loans with the purpose of covering things such as supplies, payroll, accounts payable, etc. Keep in mind that in some cases this can suggest that profit margins are too small. Lots of companies fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future obligations to take into consideration. There might be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with vendors that have to be fulfilled or may result in fines if canceled early.

Understanding the Customer Base, Competition and Area Demographics

How do operating businesses in the location bring in new consumers? Often times, companies have repeat clients, which develop the core of their daily profits. Specific aspects such as new competition growing up around the location, roadway construction, and personnel turnover can impact repeat clients and negatively influence future earnings. One crucial thing to take into consideration is the location of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the highway? Undoubtedly, the more individuals that see the business often, the higher the possibility to build a returning customer base. A final thought is the general area demographics. Is the business located in a largely populated city, or is it situated on the edge of town? How might the local average home income influence future earnings potential?