Contact: Mike Greengard
Email: [email protected]
Your Reference ID: MG1013018
It has been a great 30 year run for only the second owner of this 75-year-old successful West Michigan distributor of products and equipment for restaurants, bars, cafeterias, coffee shops, ice cream parlors and the like. The company also has a significant janitorial supply business. There is no customer concentration.
Operating out of an attractive, late model 9,000 square foot conveniently located, free-standing building (one minute from a major north-south artery), the business stocks and distributes everything from small wares to bar and buffet supplies to commercial food preparation and refrigeration equipment. The company has vendor relationships with more than 50 brand-name, major suppliers.
This one-stop shop has a user-friendly website offering online ordering. The company runs its own trucks, delivering and setting-up products to customers within a 100-mile radius of its showroom/warehouse. The B to B nature of the business will allow the new owner to keep normal Monday – Friday business hours.
The company has annual revenues of $1.5 million with $200,000 of annual SDE (seller’s discretionary earnings – the normalized annual cash flow available for a new owner/operator to service debt and pay himself). The $695,000 listing price includes the goodwill of the business, all fixtures and equipment, vehicles and an active $200,000 (at cost) inventory. The company is efficiently run by a small staff which includes a long-time sales associate (who plans to remain with the business under the new owner) with decades of industry experience.
The seller, in addition to carrying a six-figure seller note for a qualified buyer, will offer continuity training to meet the successful buyer’s needs. The real estate, owned by the seller, is available under an attractive triple net lease for only $2,000 monthly (a highly favorable 1.6% of revenues).
To learn more about this attractive, profitable, niche business with significant barriers to entry, please contact Mike Greengard (firstname.lastname@example.org).
Location(s): West Michigan
Asking Price: $695,000
Cash Flow: $200,000