Seller Financing Available
Gross Revenue: $1,000,000
Real Estate: $690,000
Architectural Millwork Business For sale!
Reason for sell: The original owner of the business is retiring.
Business Description: This architectural mill work business was established in 1979 and fabricates and installs cabinets for commercial institutions like schools and fire stations in North Texas. This business is located in the Sherman, Texas area and sits on 5.5 ACRES of land and includes a 2,600 square foot house, fishing pond, 3 horse stables, and 8,000 square foot shop which the business is operating. This business was established in 1979 and has been under the same ownership since it’s inception. The business averages around $500,000 in gross sales per year, with a net profit/owner income of $160,000. The projected gross sales for 2016 is $1,000,000 with a net profit/owner income of $342,436. The reason for the growth is that the owner’s son-in-law has assumed the lead role of the business and has become increasingly comfortable with the business and has accepted more bids. There is already $800,000 worth of contracts in place for 2016 and they have had to turn away more contracts. The shop can currently operate sales of about $2,500,000 before having to expand the current facility. Strengths: Increasing sales, GREAT reputation in the industry, reliable owners who are punctual and honest. In business for almost 40 years. Same employees for 12-15 years. Weaknesses: The current owner’s son in law is not accustomed to this type of work, so they have had to turn away a lot of business. So, this has slowed down the growth of the business. Competitors: There is competition, but the competition does not have the reputation that this company does. Details on owner’s role in company: The owner stopped working the business 5 years ago and his daughter and son-in-law have been operating the business since then. There are 5 EMPLOYEES that help them run the business. Requirements for new owner: The ability to maintain current relationships and build new ones. Some experience would help, but the son-in-law who is currently running the company was raising cattle before he assumed the current role. So, while some experience would help, it is not necessary.
Real Estate: Owned
Included in asking price
Building Sq. Ft.: N/A
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: This business is located in the Sherman, Texas and sits on 5.5 ACRES of land and includes a 2,600 square foot house, fishing pond, 3 horse stables, and 8,000 square foot shop which the business is operating. There are 4 bedrooms and 2.5 bathrooms in the house.
Competition: Competitors: There is competition, but the competition does not have the reputation that this company does. They have been in business since 1979 and have a GREAT reputation.
Growth & Expansion: Strengths: Increasing sales, GREAT reputation in the industry, reliable owners who are punctual and honest. In business for almost 40 years. Same employees for 12-15 years.
The sales willo double in 2016 from 2015. Gross sales are estimated to be over $1,000,000 for 2016.
They get 15 invitations to bid per day and only bid on 10% of the projects. They have turned away over $200,000 in contracts this year because they are unable to handle the work load with the current staff.
Support & Training: Training will be provided. The sellers are very open to training as long as it takes.
Reason for Selling: Retirement
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