Contact: Tim Carter
Email: [email protected]
Your Reference ID: TC1042618
It has been a great 15 year run for the owners of this attractive Southeast Michigan design and build franchise which specializes in custom countertops and cabinet re-facing for both commercial and residential kitchens and baths. With retirement looming, the owners look forward to transitioning their successful and growing company to only its second owner. Their retirement could be your opportunity.
Located in an attractive 7500 square foot building in a desirable and convenient Oakland County suburb, the real estate (which is home to both shop and showroom) is owned by the sellers and can be favorably leased or purchased in a separate transaction.
The two full time owners employ 18 skilled and dedicated employees functioning as fabricators, installers, sales, and support personnel. An experienced operations manager runs the shop and oversees all installations. The sales force consists of three outside people who work exclusively on a commission basis. Comprehensive and ample transition training (included in the purchase price) will be provided by both the sellers and the national franchisor insuring that the buyer of this high cash flowing business does not miss a beat.
The business records a very impressive annual SDE (the historical, normalized cash flow available to pay an owner-operator and service debt) of $425,000 on a three year average of $2,650,000 of revenues which are generated 30% from commercial sales and 70% from residential. First quarter 2018 results were strong, and the business is tracking record levels of both revenues and SDE in 2018 which is of course ideal for the new owners.
The company is priced at $1,359,000, an attractive 3.20x SDE. In addition to the goodwill of the business, the listing price includes all inventory and fixed assets. The sellers will retain cash and A/R while retiring all liabilities. The sellers will also carry a meaningful six figure seller note for a qualified buyer. To learn more about this exceptional, high cash flowing business opportunity, please contact Tim Carter at: Tim@praxisbb.com.
Location(s): Southeast Michigan
Asking Price: $1,359,000
Cash Flow: $425,000