Well-Established Custom Glass and Mirror Sales, Installation & Repair

Oakland County, MI (Relocatable)

Seller Financing Available
Well-Established Custom Glass and Mirror Sales, Installation & Repair
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Asking Price: Get Financing: $715,000

Cash Flow: $242,933

Gross Revenue: $900,723

EBITDA: N/A

FF&E: $85,570

Inventory: $61,161

Lease Rate: N/A /SF

Established: 1985

Well-Established Custom Glass and Mirror Sales, Installation & Repair

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Business Description

This well-regarded firm provides high-quality custom glass and mirror products to the greater Macomb and Oakland County areas. Average SDE over the last three years is nearly $240k. Revenue for the current fiscal year is trending higher than last year. In business at the same location since 1985, the business is known for its ability to satisfy structural glass requirements for both residential and commercial properties, without sacrificing visual elegance. Their key competitive advantages include thorough and quick responsiveness to inquiries, and their ability to perform much of their work in-house, leading to fast project completion and high customer satisfaction. In addition to project work, they also also provide repair and replacement services for on-site and walk-in customers.

Based on cash flow, this business has been lender pre-qualified; the owner is also offering partial financing to the qualified buyer. The lender has pre-qualified terms at 1) 20% down, balance over ten years, or 2) 10% down, 10% seller note over five years, balance over ten years. Other scenarios may also be proposed.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
N/A
Lease Expiration:
N/A
Employees:
2 FT/4 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The business has operated from the same location since 1985. The 3200 square foot facility houses the reception and office area, inventory area and shop area. A garage door provides convenient access to the shop area for vehicle loading and unloading. Ample parking is available for customers.
Competition:
There are several choices in the area for residential and commercial glass products and services. This company has held its own for over 30 years and captures about 75% of the quotes that it provides to customers. Their key competitive advantages include speed of responsiveness to inquiries and their ability to perform much of their work in-house, leading to fast project completion and high customer satisfaction.
Growth & Expansion:
Growth could be realized by increasing the marketing spend, and considering additional lines of business such as auto glass, and commercial and residential builder partnerships. More than half of revenue comes from residential on-site projects, with the remainder nearly equally split between commercial on-site projects and retail customers. Historically, they have not pursued builder-sourced projects nor auto glass work, but there is no operational impediment that would prevent the company from capitalizing on these revenue sources. The building square footage is not presently a limiting factor to growth.
Financing:
Lender pre-qualified for $71,500 down / $71,500 seller note for 60 mo
Support & Training:
Will train for 4 weeks @ no cost.
Reason for Selling:
The owner wishes to pursue outside interests.
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Ken Whitley

Business Listed By:
Ken Whitley

Murphy Business & Financial Corporation

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