Listing ID: 82509

Business Overview

Servicing the greater area of Jacksonville, Florida, this company offers mobile locksmith services to recurring commercial, industrial, medical and defense clients. Total Revenues for 2020 reached amounts of $554,490 with Discretionary Earnings recently improving near 50% at $274,354 and EBITDA values of $154,910. With a strong local reputation, over 25 years in the industry, diverse clientele present big growth opportunities, especially with additional hires to meet incoming market demand. The business is ready for new management and is not location sensitive. The sellers are available for a smooth transitioning period. This business is currently owner operated with 2 more employees and would be a great addition to an existing business looking to add mobile services or commercial work to their offerings. Primary services include lock repair and hardware, installation of new doors and frames, electronic locks, and master key changes. Apart from the use of LOCALiQ to drive online traffic towards their website, marketing efforts are minimal and focused on verbal referral sources backed by many recurring customers. With such strong profit margins, this opportunity won’t last long, inquire today!

Financial

  • Asking Price: $595,000
  • Cash Flow: $274,354
  • Gross Revenue: $554,490
  • EBITDA: $154,910
  • FF&E: $54,209
  • Inventory: $82,774
  • Inventory Included: Yes
  • Established: 1995

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:N/A
  • Lot Size:N/A
  • Total Number of Employees:2
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

Holds less than $3,000 in annual tenancies. (Home Based)

Is Support & Training Included:

Available for a smooth Owner Transition period.

Purpose For Selling:

Approaching retirement and/or pursuing other interests.

Home Based:

This Business Is Home Based

Additional Info

The business was established in 1995, making the business 27 years old.
The transaction will include inventory valued at $82,774, which is included in the asking price.

Why is the Current Owner Selling The Business?

There are all sorts of reasons why individuals resolve to sell businesses. However, the genuine factor and the one they tell you may be 2 completely different things. For instance, they may state "I have way too many other commitments" or "I am retiring". For numerous sellers, these factors stand. But, for some, these might just be excuses to try to conceal the reality of changing demographics, increased competitors, recent reduction in earnings, or a range of other factors. This is why it is very essential that you not depend totally on a seller's word, however rather, make use of the seller's solution in conjunction with your total due diligence. This will repaint a much more sensible picture of the business's present circumstance.

Existing Debts and Future Obligations

If the existing company is in debt, which lots of businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Numerous businesses borrow money with the purpose of covering items such as supplies, payroll, accounts payable, and so on. Bear in mind that in some cases this can indicate that revenue margins are too tight. Numerous businesses fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may additionally be future obligations 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 vendors that have to be fulfilled or might result in penalties if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Just how do businesses in the location draw in new clients? Often times, companies have repeat customers, which create the core of their day-to-day profits. Certain variables such as new competitors growing up around the area, road building, and also employee turnover can affect repeat customers and negatively influence future incomes. One important thing to take into consideration is the area of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the highway? Obviously, the more people that see the business on a regular basis, the greater the possibility to build a returning consumer base. A last idea is the general area demographics. Is the business located in a largely populated city, or is it located on the edge of town? Just how might the regional average family income impact future income potential?