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+$65K Backlog mid-Aug, Concrete Resurface Charlotte Metro

Charlotte, NC (Mecklenburg County)

Concrete Resurfacing, SBA loan
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Asking Price: $400,000

Cash Flow: $141,000

Gross Revenue: $421,000

EBITDA: N/A

FF&E: $30,000

Inventory: $1,000

Established: 2005

+$65K Backlog mid-Aug, Concrete Resurface Charlotte Metro

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Business Description

+15yr Biz w/$262K Rev & $122K SDE to July '19. 15% down w/ SBA+$40K WC Proposed

Profitable, established concrete resurfacing and epoxy flooring Business in the Charlotte Metro Region will provide buyer with long time name recognition and a backlog of business to walk right into! Excellent processes in place. The owner estimates that nearly 50% of revenue is derived from previous client/vendor referrals.

Business Owner believes top business strengths include:
• Reputation
• Technical Skills
• Quality Work

Approximately:
• 4 full time non-union employees, excludes owner
• Majority under $20 hourly wage range
Employees work around 40 hours each week. No employee benefits such as 401K/health insurance/PTO exist at this time.

This Business is being sold as an Asset Sale where the Business Owner retains cash, receivables, prepaids and pays off any payables/liabilities at the time of sale. Real estate is not included in the sale of the Business.

A very comprehensive due diligence package is available for onsite review prior to making an offer. Bridge Mergers and Acquisitions does not provide accounting, tax, or legal advice. Information has been provided by the Business Owner, and Bridge Mergers and Acquisitions does not guarantee in any way the accuracy of such information, nor does it warrant any assumptions as true and/or correct. We recommend that Buyer’s due diligence professional verify calculations, and we are confident that your due diligence professional will arrive at similar conclusions. Cash/Gross Revenue, Business Highlights provided by Business Owner.

The lender has proposed a 10-year SBA loan with 15% down & $40K working capital for qualified buyer.

Detailed Information

Location:
Charlotte, NC
Inventory:
Included in asking price
Employees:
5
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The Business is currently operated from the owner’s home with a separate nearby rented space of less than 750 square feet.
Competition:
The marketplace is very fragmented with only occasional competition observed.
Growth & Expansion:
Continuous backlog exists for the Business; Business Owner sites a 2-3 month backlog for Buyer’s immediate horizon of revenue. Stamped Concrete, Warehouse & Industrial Epoxy, and Pool/Patio Business represent significant business opportunities/growth potential. Business Owner needs another top supervisor and is close to having one trained. At times, the business owner turns off advertising and turns down work because they are too busy.
Financing:
SBA Loan Proposed, 15% down +40K WC
Support & Training:
The Business Owner will provide transition training: • 40 hours first week • Up to 20 hours for the next three weeks
Reason for Selling:
Repeat Entrepreneur - grow another business
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(from currently available funds)
 
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Diana L. Miles, C.M.A.P., C.B.I.,  M.B.A.

Business Listed By:
Diana L. Miles

Bridge Mergers & Acquisitions

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