Profitable, Affordable West MI Locksmith Business
We are pleased to offer an established, profitable, attractively priced locksmith business. The company, with two full-time employees, is located in a retail strip mall in a desirable area of Kent County in West Michigan.
The business deals with commercial, residential, and automotive customers, to name a few. With a retail storefront and 24/7 mobile lockout, this full-service locksmith has a lot to offer a prospective buyer. An A+ rating by the Better Business Bureau is complimented by 4.6 star rating and positive Google Reviews.
No trade experience is required to assume the ownership role in this business. The current owner, who needs to relocate out of state to address family matters, has set you up with a favorably priced, turnkey opportunity. Equipment, inventory, and an established lease are coupled with two experienced locksmiths on staff. And an excellent dedicated website comes with the business.
Helping customers gain entry to their car, home, or business may be top of mind when one thinks about calling a locksmith. This business in addition takes it an extra step with a variety of in-store services including:
-Lock Repair, Service, and Rekey -Key Cutting and Duplication -Automotive Key Repair and Replacement -Programming of Your Car keys, Remotes and Fobs
Now let’s get to the numbers. Gross sales for the last three years have averaged $300,000. 2021 has been solid on a year-to-date basis with the business forecasted to surpass $300,000 in revenues. SDE (seller’s discretionary earnings = the normalized, historical cash flow available to pay an owner-operator and service debt) has been tracking the past 18 months at an impressive $110,000 annualized rate.
This bankable business is priced at $250,000 and to sweeten the pot, the current owner is offering a 10% seller note to match the buyer’s $25,000 down payment. A solid buyer should be able to obtain a $200,000 SBA bank loan to round out the $250,000 purchase price. The Buyer would assume a $1,200 per month triple net lease in a West Michigan strip mall. The goodwill of the business is augmented with staff, inventory, and a mobile service vehicle.
For more on this attractive business opportunity contact Ryan Johnson ([email protected] or 269-338-9809)