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Custom Commercial Design, Millwork, Case Goods and Installation
NCListing DetailsOffice ID: MILLWORK2
Status: Sold
Listing Broker: Jeff Snell, M&AMI, CBI, ABI
Listing Price: $510,000
Gross Revenue: $2,133,457
Cash Flow: $174,054
Inventory: $100,000
Inventory Included: Yes
FF&E: $225,000
FF&E Included: Yes
Real Estate Included: No
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:
Financial information presented is for the period 10-2014 through 9-2015. Value of real estate is estimated. The actual selling price will be at the actual bank appraised value.
Reason for Sale:
Other business interests.
Training:
Seller will provide reasonable post-transaction support and transition assistance at no cost.
OperationsYear Established: 1987
Last Acquired: 2007
Form of Ownership: S Corp
Employees (full-time): 16
Managers: 5
Business Hours: M-F 7:30-4:30
Summary
Business Description:
The company works with architects, designs and builders to build and install high end interiors for public and private clients.  The company is continuing its impressive growth while maintaining solid margins. The company is owner operated with approximately 5 salaried employees (2 office personnel + 2 sales personnel + 1 Production Manager) and 11 hourly employees. All other labor is contracted or outsourced paid based upon performance or hourly with 10-20 installers as needed.
Historical Summary:
This firm has over 25 years of experience providing fine architectural work to contractors and property owners in the South East region.
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.
Competition:
Since the 'great recession' there are few competitors.  Many have gone out of business and those still operating have limited the scope and size of projects they are willing to take on.
Potential Growth:
As the economy continues to improve the number of projects available will increase. Many construction and construction-related firms have experienced a downturn. This business has had year-over-year growth in top line sales over the past three years. The company has a solid book of WIP currently in excess of $1.24 million.
LocationType of Location: Flex – Office
Monthly Rent: $5,500
Square Footage: 12000
Facilities:
The business is located in a building owned by the business owners within an hour of Raleigh, NC. There is room for some expansion without additional construction and land available for additional construction. The facility is well-maintained. Ample parking is available.
Last Updated: Apr 4, 2017 / 10:24 AM
Financial Information Current as of: Mar 20, 2014 / 3:43 PM