Listing ID: 82571
Based in Middle Tennessee, we offer custom glass work ranging from shower enclosures, dining room tables and mirrors for your home gym, to storefront and glass railing systems for your business. Our team of internal fabricators cut and sculpt glass and mirrors to exact specifications while our installation teams meet the on-site needs of our homeowners, general contractors, and business owners. We separate our business in to four market segments. Retail Direct Sales is our largest segment representing approximately 40% of our revenue, and shower enclosures are our dominant product line therein. We install more shower enclosures than any other glass company in Middle Tennessee. Our second largest segment is New Construction and Remodels. Shower enclosures are the main product line, but we provide all the glass and mirror needs for high-end custom homes. Commercial Services represent about 30 percent of our revenue. We specialize in smaller commercial opportunities of $25,000 to $100,000 with more favorable margins rather than the larger commercial opportunities. Lastly, we offer 13 distinctive patterns of antique mirrors and more than 100 decorative glass patterns to homeowners, cabinet manufacturers and other glass shops via a recently purchased distributor. We have consistently generated $6 Million to $7 Million in net sales and expect Revenue and Seller’s Discretionary Earnings in excess of $7 Million and $1.5 Million, respectively, for the year ended December 31, 2021. The asking price excludes working capital and real estate.
- Asking Price: $6,000,000
- Cash Flow: $1,500,000
- Gross Revenue: $7,000,000
- EBITDA: $897,904
- FF&E: $593,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2002
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
2 building total of 17,000+/- is available for Lease.
Owner Transition pp to 3 months full time and part time under managerial roles.
Approaching retirement and/or pursuing other interests.
The company was established in 2002, making the business 20 years old.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals choose to sell businesses. Nevertheless, the true factor vs the one they tell you might be 2 entirely different things. For instance, they might state "I have a lot of various responsibilities" or "I am retiring". For lots of sellers, these factors stand. But also, for some, these might just be justifications to attempt to hide the reality of altering demographics, increased competitors, current decrease in earnings, or a range of other factors. This is why it is very important that you not count entirely on a vendor's word, however instead, make use of the vendor's solution in conjunction with your overall due diligence. This will repaint a much more reasonable image of the business's existing circumstance.
Existing Debts and Future Obligations
If the current entity is in debt, which numerous businesses are, then you will have reason to consider this when valuating/preparing your offer. Numerous operating businesses borrow money so as to cover things like inventory, payroll, accounts payable, etc. Remember that occasionally this can imply that earnings margins are too thin. Many organisations come under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may likewise be future obligations to consider. There might be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with vendors that have to be fulfilled or might lead to charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the location attract new clients? Most times, companies have repeat customers, which develop the core of their day-to-day revenues. Specific variables such as new competitors sprouting up around the location, road construction, as well as personnel turnover can influence repeat customers and also negatively affect future incomes. One important point to take into consideration is the location 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 on a regular basis, the greater the opportunity to build a returning customer base. A final thought is the basic location demographics. Is the business placed in a densely inhabited city, or is it situated on the outskirts of town? Just how might the regional median home earnings impact future revenue prospects?