Dominant Residential & Commercial Floor Coating Installer In Socal

San Diego, CA (San Diego County) (Relocatable)

Typical Retail Garage Floor

Asking Price:$350,000

Cash Flow:$100,000

Gross Revenue:$1,200,000





Dominant Residential & Commercial Floor Coating Installer In Socal

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Business Description

Founded in 2006, this business is the industry leader in Southern California for retail garage floor coatings and is a significant competitor in commercial and industrial floor coatings. The business has an installed base of nearly 7,000 floors and has been the most successful floor coating installer in Southern California over the past 10 years. We have an semi-exclusive relationship with one of the key material suppliers in the industry which has led to a strong "brand" presence and below market pricing that has given us a dominant position in the market. Primary geographic markets are San Diego, Riverside and Orange Counties but can easily be expanded. Further expansion in the commercial flooring side of the business can also be easily achieved. This business is ideal for a family owned operation where family members can be responsible for sales and marketing, operations and installation or accounting. Sales have averaged $1.2-$1.3M last several years and Adjusted Cash Flow averages $150K annually. Employees are highly skilled and will come with the business. The business typically has a 3-4 week lead time during much of the peak season (April - November) and stays busy in the offseason as well. Employees work 4-10 hour days to maximize efficiency on installations.

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Detailed Information

Included in asking price
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Current facilities are shared with a painting company that this business is currently partnered with but the operations are run separately so it can be easily moved anywhere in Socal. There are 4 fully equipped branded trucks (all have lift gates & custom interior shelving) with grinders, shot blasters, vacuums and all necessary floor prep and installation equipment. Trucks and equipment are in excellent condition and are maintained regularly. Asset value of trucks & floor prep equipment is approximately $80-100K and is included in the price.
The Socal floor coatings market is very robust. Even homes that currently have floor coatings are prospective customers due to the need to replace garage flooring every 6-10 years if older floor coating technology (epoxy) is used. The large installed base of previously installed homes generates about 15% of sales thru referrals and repeat business, another 10-15% comes from home builders (new home sales) and the rest comes from advertising (internet, website and direct mail home improvement).
Growth & Expansion:
Further market expansion is possible in industrial, commercial and equestrian specialty coating markets. Little or no direct marketing is done in these markets and ownership believes that additional growth is possible with little effort by expanding advertising efforts in these markets.
Secured financing available. $0 down MAY be possible for the right buyer
Support & Training:
The owner does all of the sales and has a superintendent who manages field operations. However, this is a hands-on business and keen knowledge of the various products that are installed and of concrete in general is required. Therefore, the owner will agree to stay on to train or provide ongoing support (not included in the price) for some length of time.
Reason for Selling:
Owner is retiring

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