IN ESCROW - Remodeling Firm 25-yr

CA

IN ESCROW - Remodeling Firm 25-yr
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Asking Price: Get Financing: $2,300,000

Cash Flow: $1,191,058

Gross Revenue: $3,700,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Lease Rate: $3,000 /SF/Month

Established: 1993

IN ESCROW - Remodeling Firm 25-yr

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Business Description

IN ESCROW - For 25 years, this business has provided design, build and furnishing services for wealthy clients in a zip code listed by Forbes Magazine as the 3rd highest average home price in the nation.
The owner manages a staff of 8 employees that includes a full-time architect, a licensed General Contractor, an interior designer, an office manager, a production manager, a master carpenter, a designer intern and a part-time IT person. The owner oversees the business and she does no building. Clients choose this firm not only because of its stellar reputation but because it provides the entire process from initial concept discussions with the homeowner to providing furnishings and accessories for the finished project.
This firm is a cut above the typical residential remodeling contractor because it provides complete design plans and details in its bids. As a result, project cost increases are minimal because the client and the firm have an exact understanding of all the details.
Sales for 2017 were $3.7 million with Sellers Discretionary Earnings of $1,191, 058. Prior years earnings were $668K, $672K and $523K. 2017 improved because the owner subcontracted work when the staff was fully committed, increasing the total revenue substantially.
Owner is selling to retire and will provide training for the buyer.

Please note this is a confidential matter and no additional information will be provided until a Confidentiality Agreement and background information has been submitted. Please hit the reply button or contact John Mittelstet at jmitt@mabusinessadvisors.com or 408-460-5446 to receive a confidentiality agreement and learn more about this opportunity.

Detailed Information

Real Estate:
Leased
Building SF:
982
Lease Expiration:
N/A
Employees:
8
Competition:
This owner takes a more professional approach to bidding with all details spelled before beginning work. Very little change orders in this system, which also keeps costs in-line, producing better than average industry margins.
Growth & Expansion:
As of 2018, more work is flowing in. So good backlog to continue sales. Only constraint is getting good workers, but this owner has good relationships with area sub-contractors, and has thus far experienced a minimum of project delay.
Support & Training:
Seller will provide training at no cost to qualified buyer after the sale.
Reason for Selling:
Retirement
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John Mittelstet

Business Listed By:
John Mittelstet

M&A Business Advisors

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Sponsoring Broker:
Matt Coletta, CBB, CBI, M&AMI

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