Commercial Plumbing Outside of Detroit with Tenured Staff
Detroit, Michigan
Asking Price: |
Gross: |
Cash Flow: |
$925,000 |
$2,167,310 |
$225,064 |
Furniture and Fixtures Value:
$588,297 (included in the asking price)
Inventory Value:
$0 ( not included in the asking price)
Real Estate:
$0 ( not included in the asking price)
Business Summary:
The company comes with a well-established team of 11 including7 field technicians, 2 estimators, 1 bookkeeper, and 1 admin. Thisbusiness has a client base made up of 80% repeat customers in avariety of industries including the industrial sector, the healthcarefield, and municipal clients. Services that are offered includeplumbing (which makes up 75% of service base) and pipefitting(25% of service base). The master plumbing license is not held bycurrent ownership but instead is held by one of the teammembers. Based in Detroit, Michigan, this well-establishedbusiness is centrally located between Ann Arbor, Flint, Detroit,and Toledo. This is because the current owner is looking for astrategic buyer to grow the business further and is planning tostay on with the business for 2-3 years to assist in this anticipatedgrowth and ensure a smooth transition. The team works out of5,000 sq. ft. building with 3,500 sq. ft. dedicated to the shop, withthe remaining space dedicated to the office for a low $2,250 permonth. This plumbing and piping business is primed for newownership, with the projected $1,000,000 in backlog and$600,000 of new projects in their pipeline to be bid on. Thecurrent owner is active in the business overseeing estimates andvisiting job sites once a week. This includes vehicles, equipment,tools, trailer, and a working capital of $247,709 which, altogether,add up to be valued at $588,297.Priced at $925,000, the purchase of this company includes all theassets that new ownership will need to continue and grow thecurrent business operation. There is plenty of room to expandoperations both in the amount of space currently leased and inthe opportunities that a buyer could easily take advantage of tosee an ongoing development. With their exponentially high rate ofreturn clients, an added marketing or advertising campaign couldbe expected to result in ongoing dividends of returning clients foryears to come. A 10% down payment of $92,500 returns $87,674in the first year after debt payments!
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Year
Business was Established: 2006 |
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Number of Employees:
5 |
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Facilities / Terms of Lease:
5,000 sq. ft. total 3,500 sq. ft. shop, 1,500 sq. ft.
office for $2,250/mo. |
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Potential
Growth/Expansion:
Increase marketing and
advertising presence. Hiring campaign to bring in more
laborers. |
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Owner
willing to finance:
10% Buyer Down Payment $92,500 10% Seller Financing $92,500 80% Bank Loan $740,000 |
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Owner
willing to train:
2-3 years |
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Reason for selling:
Seeking to sell to strategic new
owner who will grow the business and overcome
competition. |
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REQUEST MORE INFO |
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