Business Overview

Founded in the 1990s, the Company specializes in repairing commercial and industrial appliances and equipment, primarily those used within food preparation, refrigeration, coffee, espresso, and HVAC applications. The Company’s experienced staff boasts an average tenure of 7+ years and helps it maintain its strong reputation in the West Michigan market.

Focusing on the restaurant, catering, and café industries, the Company’s customer base is comprised of restaurants, caterers, cafés, bistros, pubs, breweries, institutional kitchens such as colleges/universities, primary education schools, retirement homes, and more. The Company also has a fully functional shop and can work on small equipment at the Company’s facility when it is more convenient.

The Company is warranty authorized and factory trained for a multitude of manufacturers. In order to be able to fulfill all customer’s needs, the Company stocks parts for a variety of equipment. Based in West Michigan, the Company caters to customers throughout the Grand Rapids, Lansing, Holland, Grand Haven, Muskegon, Kalamazoo, Portage, and Battle Creek areas. Depending on customer’s requests and the scope of desired projects, the Company has historically traveled to the Ann Arbor area, metro Detroit, and Indiana to complete special jobs.

The Company operates out of a recently updated facility, containing a shop area and office portion. The facility is valued at an estimated $385K and owned through a related holding entity. The owners are open to the sale or lease of the facility to new ownership.

Company ownership is active in the daily operations of the Business and willing to provide reasonable and customary transition assistance.

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  • Asking Price: N/A
  • Cash Flow: $212,739
  • Gross Revenue: $1,165,555
  • FF&E: N/A
  • Inventory: $33,507
  • Inventory Included: Yes
  • Established: 1997

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:Yes
  • Building Square Footage:4,800
  • Lot Size:N/A
  • Total Number of Employees:8
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

4,800 square foot facility, recently renovated and maintained in good condition.

Is Support & Training Included:

Ownership is willing to provide reasonable and customary transition assistance.

Purpose For Selling:


Pros and Cons:

Investment Highlights Include: (1) Established Reputation: The Company boasts a strong reputation in the West Michigan market and is the go-to equipment service and repair business in the area. The Company boasts a 5-star rating from 9 reviews on Google. (2) Diversified Customer Base: With a customer database of approximately 1,200 clients, the Company’s customer base is substantially diverse. The number of facilities requiring the Company’s services is significant, leading to vast diversity in customer types. The Company’s ability to handle work ranging from coffee machine repairs to HVAC maintenance widens its draw of customers. The Company is able to decrease cyclicality and increase predictability of financial performance due in part to this diversity. (3) Easy to Operate Business Model: With consistent demand from customers, tenured and experienced employees, and an established reputation in West Michigan, the Company’s business model is relatively basic to operate. The Company runs a straightforward process without much specialization in terms of equipment or operations. This easy to operate business model should ease the transition of ownership and flatten the learning curve for the new owner(s).

Opportunities and Growth:

Growth Opportunities Include: (1) Improved Marketing and Web Tactics: The Company has a serviceable website that educates visitors on its services and generates additional business. While the website and overall web presence is functional, there is room for improvement. The Company could benefit from an improved design and user experience, implementing search engine optimization (SEO) best practices, and increasing the amount of content. (2) Warranty Partnerships: As a leading equipment repair business in West Michigan, the company is trusted by manufacturers to handle their warranty repairs. The Company has partnerships in place and routinely completes maintenance work for True, Manitowoc, Ice O Matic, XLT Pizza Ovens, Blue Air, Royal, Franke, La Marzocco, Nuova Simonelli, and more. The Company maintains strong relationships with these companies but does not fully maximize the opportunities surrounding warranty work. (3) Expanded Workforce: Currently, the Company is operating under its maximum operational capacity and has the management staff to operate at a considerably expanded financial level. Under current ownership, the Company has not pursued growth; however, the existing management structure could easily handle adding 3 or more full-time field technicians, which would create additional revenue while limiting supplemental overhead costs.

Additional Info

The venture was established in 1997, making the business 25 years old.
The transaction does include inventory valued at $33,507, which is included in the listing price.

The business has 8 employees and is located in a building with approx. square footage of 4,800 sq ft.

Why is the Current Owner Selling The Business?

There are all types of reasons individuals decide to sell operating businesses. Nonetheless, the true factor and the one they tell you might be 2 entirely different things. For instance, they may claim "I have a lot of various commitments" or "I am retiring". For lots of sellers, these reasons stand. But, for some, these may simply be reasons to try to hide the reality of altering demographics, increased competitors, recent reduction in incomes, or an array of various other reasons. This is why it is very crucial that you not depend completely on a vendor's word, however rather, make use of the vendor's response together with your general due diligence. This will paint a more sensible picture of the business's current scenario.

Existing Debts and Future Obligations

If the current company is in debt, which lots of businesses are, then you will need to consider this when valuating/preparing your offer. Lots of operating businesses finance loans so as to cover items like stock, payroll, accounts payable, etc. Remember that occasionally this can mean that profit margins are too thin. Lots of organisations come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future commitments to think about. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing agreements with suppliers that have to be fulfilled or might lead to fines if canceled early.

Understanding the Customer Base, Competition and Area Demographics

How do companies in the area bring in brand-new consumers? Most times, businesses have repeat clients, which develop the core of their day-to-day earnings. Certain variables such as brand-new competition growing up around the area, road construction, and also staff turn over can influence repeat clients and also adversely affect future revenues. One essential point to take into consideration is the placement 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 on a regular basis, the better the possibility to construct a returning client base. A last thought is the general area demographics. Is the business situated in a densely populated city, or is it situated on the outside border of town? How might the neighborhood mean house income influence future revenue potential?