|Custom Design, Millworks, and Installation|
NCListing DetailsStatus: Sold
Listing Broker: Jeff Snell, M&AMI, CBI, ABI
Price Range: $1,000,000 - $2,500,000
Cash Flow: $220,125
Inventory Included: No
FF&E Included: No
Real Estate Included: No
Sales Structure: Asset Sale
Seller Financing: No
Financing/Terms:Seller will participate in financing as required by SBA lender up to 50% based upon overall offer terms, conditions and buyer qualifications.
Reason for Sale:Owner is moving out of state to complete MBA.
Training:Seller will provide reasonable post transaction support and transition assistance at no cost.
OperationsLast Acquired: 2007
Business Hours: 8-6 M-f
Business Description:This company continues its impressive growth while maintaining a near zero overhead cost structure. The company is owner operated being the only W2 employee. All other labor is contracted or outsourced paid based on performance or hourly are 2 office personnel, 2 sales personnel and 10-20 installers as needed. Two of the installers are extremely capable as master woodworkers and crew leaders as well.
Historical Summary:The company was started in 2007 with full operations coming online in 2008. The owner, while traveling abroad realized that exceptional woodworking including handmade, hand carved design elements could be produced at extremely competitive costs. The vast majority of the work produced is solid mahogany.
Owner Qualifications:Owner will need to possess or retain customer relationship management and sales skills. General project management, purchasing and accounting familiarity as well as design and costing ability. These skills are currently represented across several contractors/partners and owner is available (for additional consideration) for extended transition/training and support.
Competition:Since the 'great recession' the few competitors in this space have been thinned and those still operating have limited the scope and size of projects they are willing to take on.
Potential Growth:Assets are in place to easily double production with the addition of a manager. Currently the company has a $1,000,000 proposal pending that is expected to be accepted for completion over the next 12 months. There are $300,000 contracts signed representing $200,000 in net profit and an additional $260,000 in deposits in October representing $120,000 in net profit that are IN ADDITION to the gross sales and SDCF listed above.
LocationOption: test 10%
Monthly Rent: $2,700
Square Footage: 3300
Location information represents a separate showroom and warehouse facility.
Last Updated: Jul 13, 2015 / 3:48 PM
Financial Information Current as of: Jul 23, 2013 / 2:17 PM