Priced to Sell Glass and Mirror Company

Rice County, MN (Relocatable)

Seller Financing Available
Priced to Sell Glass and Mirror Company
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Asking Price: $100,000

Cash Flow: $79,756

Gross Revenue: $369,205

EBITDA: N/A

FF&E: $13,000

Inventory: $3,000

Established: 1970

Priced to Sell Glass and Mirror Company

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Business Description

Glass and Mirror Company with growth potential!

Priced to sell glass contracting company. Perfect business for someone with glass installation experience, or someone already in the industry. Services provided include installation, service and repair on commercial buildings, residential buildings and vehicles. The majority of this business's revenue comes from commercial customers. Currently a one person shop, this company could benefit from a buyer that would like to run and operate the business directly, or grow the business to match the opportunities that are available in the surrounding area. This company is as busy as the owner chooses it to be now and could grow by being more aggressive in responding to bid proposals received.

Offered at a rock bottom price with generous owner financing, this is a great opportunity to get in the glass business.

Detailed Information

Location:
Rice County, MN
Inventory:
Included in asking price
Employees:
5 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Current facility is 3,100 square feet and contains office/showroom space and as well as a large shop for working on projects and storage. Seller is willing to allow a new owner to stay in current building until August of 2020. Lease rate would be negotiable.
Competition:
Over the five years to 2018, the Glass and Glazing Contractors industry has performed well, as a result of extensive economic improvements. Economic growth in the United States has stimulated increased demand from key markets for the industry, specifically residential and nonresidential construction. The Glass and Glazing Contractors industry installs glass curtain walls, windows, doors, room dividers and other products in residential, commercial and institutional buildings. Operators in the industry also tint and repair glass structures, as well as install window panes of all types. The industry's largest contractors specialize in installing glass curtain walls and exterior facades on office buildings and other commercial property, which usually constitute lucrative contracts. Smaller operators specialize in residential markets and emergency glass repairs. Construction activity increased demand for glass and glazing contractor services from key markets, as glass windows and structures are used as a key component in construction projects. Roughly two-thirds of industry revenue is derived from work on office space and commercial and institutional buildings, whether new or under renovation, with the remainder derived from work in the housing market. Steadily expanding residential and nonresidential construction markets helped to boost revenue. Overall, industry revenue is expected to increase at an annualized rate of 7.5% to reach $14.8 billion over the five years to 2018. Revenue is projected to increase 2.6% in 2018, as growth in the construction markets gradually slows down. Over the five years to 2023, the industry is projected to continue expanding, albeit at a slower pace. With the total value of construction projected to surpass its pre-recession levels, the rapid growth industry operators experienced during the prior period will be harder to maintain. Additionally, with the Federal Reserve widely expected to continue raising its short-term interest rate target over the five years to 2023, businesses are less likely to invest in large capital projects, such as new commercial buildings, which will slow industry expansion. Overall, IBISWorld expects revenue to grow at an annualized rate of 1.8% to $16.2 billion over the five years to 2023. - quoted from IBIS World.
Growth & Expansion:
Opportunities abound to bid on more projects. As the area around the company continues to grow, so will demand for glass services. This company is as busy as the owner chooses it to be now and could grow by being more aggressive in responding to bid proposals received.
Financing:
$30k down/$70k for 36 mos. @ 6%.
Support & Training:
Will train for 2 weeks @ $0 cost. This company requires a contractor's license through the State of MN. New owner will be, or have the desire to become, a proficient glass installer, or hire others to complete glass work. Knowledge of the building industry and the ability to read blue prints will be vital skills for the next owner. There are courses available for accreditation.
Reason for Selling:
Retiring from self-employment.
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Jacob Petersen

Business Listed By:
Jacob Petersen

Murphy Business & Financial Corporation

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Sponsoring Broker:
Patrick Steffl

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