Listing ID: 82203
This Commercial and Residential Glass Company for sale in Eastern Iowa has been providing high-quality commercial, residential, and auto glass repair and replacement services to their large customer base for over 50 years. The business offers 24-hour commercial emergency glass repair services and has many repeat customers in their 50 mile service area. Employees of the business are knowledgeable and reliable and many have been with the current owner for over a decade. The business operates at a well-equipped facility located on a busy road with a retail center and service shop.
- Asking Price: $448,000
- Cash Flow: $125,255
- Gross Revenue: $719,511
- EBITDA: N/A
- FF&E: $109,400
- Inventory: $25,000
- Inventory Included: Yes
- Established: 1970
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:5,000
- Lot Size:N/A
- Total Number of Employees:7
- Furniture, Fixtures and Equipment:N/A
The real estate includes a lot with a 5,000 sq. ft. building. The building includes retail, office, shop, storage, and indoor vehicle parking.
Pursue other interests.
The business benefits from the status of preferred vendor for local insurance agents who support it with customer referrals. The business has an experienced operations and installation team who have the ability to take on the most complex custom jobs in the market.
In recent years, the business has increased revenue through the demand of top-quality custom shower glass for new homes and remodels. This could be expanded on by adding tile installation to their line of services as contractors in the area have expressed an urgent need due to large demand of custom showers.
The venture was founded in 1970, making the business 52 years old.
The transaction will include inventory valued at $25,000, which is included in the asking price.
The company has 7 employees and is located in a building with disclosed square footage of 5,000 sq ft.
Why is the Current Owner Selling The Business?
There are all sorts of reasons people choose to sell businesses. Nonetheless, the true reason vs the one they tell you might be 2 entirely different things. For instance, they might say "I have a lot of various responsibilities" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these might just be reasons to try to conceal the reality of changing demographics, increased competition, recent decrease in revenues, or a variety of various other factors. This is why it is extremely important that you not count totally on a vendor's word, yet rather, use the seller's response along with your total due diligence. This will repaint a more practical image of the business's current situation.
Existing Debts and Future Obligations
If the existing business is in debt, which many businesses are, then you will need to consider this when valuating/preparing your deal. Lots of companies borrow money so as to cover items such as inventory, payroll, accounts payable, etc. Keep in mind that in some cases this can mean that earnings margins are too thin. Many businesses fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may also be future obligations to consider. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with suppliers that need to be satisfied or might result in charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area attract new customers? Often times, operating businesses have repeat customers, which form the core of their everyday profits. Specific aspects such as brand-new competition growing up around the location, roadway building and construction, as well as employee turnover can influence repeat clients as well as negatively affect future earnings. One important 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? Obviously, the more individuals that see the business often, the greater the possibility to develop a returning consumer base. A last thought is the general area demographics. Is the business situated in a largely inhabited city, or is it located on the outside border of town? How might the local average household income influence future income prospects?