Professional Maid Service

Tulsa, OK (Tulsa County)

Professional Maid Service
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Asking Price: $998,500

Cash Flow: $242,336

Gross Revenue: $1,469,231

EBITDA: $242,336

FF&E: $100,000

Inventory: N/A

Real Estate: $540,000*

Established: 2005

*not included in asking price.

Professional Maid Service

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Business Description

13 Year Old Business is #6 of 250 Locations - MaidPro Heartland

MaidPro Heartland is the organization comprised of the Tulsa and Kansas City offices. The company has a high level of recurring business: 92%. MaidPro's recurring customer base is reported as 345 in Tulsa and 150 in Kansas City. Qualified homes are approximately 85,000 in Tulsa and 100,000 in Kansas City: Thus, a lifetime of potential clients.

The organization is comprised of the General Manager, an Operations Manager, two Office Managers, a part time Office Assistant and a part-time hybrid employee with the balance of the employees as service providers working in the field. The service providers typically work 25-35 hours per week and are considered part-time.

Owner has established a solid organization that is able to operate consistently without his day-to-day involvement. The processes and systems have set the standard for the franchise organization in many areas and have become the overall best practices in the same.

Other success factors include: Strong customer service, ongoing customer relationships, quality personnel, a Net Promoter Score of over 58, a re-clean rate of 0.08%, a unique and powerful company culture and a good reputation. The company excels in each of these areas and is well-positioned for continued growth and success. Enabling this success is the quality and effectiveness of marketing. Nearly 80% of marketing leads come in through "all things Internet." The other 20% of leads come in via the many other marketing channels such as direct mail, yellow pages, referrals, office signage, vehicle branding, billboards, networking groups, magazine articles, and many other channels. The marketing and brand are more effective than the competition due to recent studies of costs to obtain new recurring customers and MaidPro was the lowest of the top 12 maid service franchises.

The financial operations are stable generating about 13% EBITDA or $240,000/yr as recast.

The franchisor and its systems are extraordinary. MaidPro is the most technically savvy of the maid businesses with cloud based software and a vast array of reports giving the owner a very clear view into the operation's key metrics. The chemistry of the franchisees is powerful in the support and care shown.

Risk is effectively managed through systems and procedures as well as specific insurance, GL, EPLI, Non-owned auto, and umbrella which are tailored specifically to our business. All computing services and file storage are cloud based and fully backed up continually. All financial transactions are CPI compliant.

Employee recruiting, selection, culture, and training allow MaidPro to have about 1/6th of the typical maid service turnover. The training is more detailed than typical maid services thus, giving the customer a higher level of satisfaction. This means the customers stay longer. MaidPro's attrition is about 2 percentage points less than the industry average, and MaidPro Heartland is about 2 percentage points below that. We keep our customers longer. Average revenue generated per customer is around $263/month.

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Detailed Information

Location:
Tulsa, OK
Inventory:
Included in asking price
Real Estate:
Owned
Not included in asking price
Building SF:
7,700
Employees:
49
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Both the Tulsa and Kansas City offices are rented. The Tulsa office building is owned and could be included in the deal if so desired. The building is about a 10 CAP rate generating about $2500/month EBITDA. Current market value is $540,000. This business is not dependent on facilities and assets are minimal to effect the service. There are 5 branded vehicles, Subaru's and Toyota's and office furniture and equipment including computers. A trained part time employee repairs all equipment. All tools and a good inventory of parts are available.
Competition:
There are about 12 other maid service companies of sufficient size to qualify as competition. MaidPro has been recognized for many years as the top growing maid service. Demographics and psychographics are available for the territory. The marketing is tuned to meet those targets. In general, the market is growing at about 5%/year. About 80% of cleaning is done by independents. More customers are learning the benefits of a professional service annually. Since our reputation is the highest among our peers, we get the majority of the new customers.
Growth & Expansion:
Accelerated growth trends over the next few years include services and territory. Potential expansions are in the greater Oklahoma City area: Edmund, Moore, and Norman and in Arkansas: Fayetteville and Bentonville. Both areas are within 90 minutes of Tulsa. Additional services such as the proprietary Bio - Protect antimicrobial treatment, Laundry Plus, commercial cleaning, pest control (MosquitoControl) and dry carpet cleaning services could be added to the existing cleaning services with little or no additional investment other than marketing.
Support & Training:
Owner is willing to remain in the business as a trainer/consultant for a brief time if so desired. The franchisor has complete training, a personal business coach, and the support of the other 250 franchisees who are available continually. MaidPro University On-Line is designed for training the service providers. It is exceptional and thorough.
Reason for Selling:
Owners health and desire to retire is prompting this sale.
Franchise:
This business is an established franchise
Business Website:
http://maidpro.com/tulsa
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Business Listed By:
Greg Ford

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