|Established HVAC Service and Installation Company|
NCListing DetailsOffice ID: HVAC4
Listing Broker: Jeff Snell, CM&AP, M&AMI, LCBI, ABI
Listing Price: $500,000
Gross Revenue: $755,261
Cash Flow: $201,000
Inventory Included: Yes
FF&E Included: Yes
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:Seller will participate in SBA mandated financing if required.
Absentee Owner: Yes
Minority Owned: Yes
Reason for Sale:True Retirement
Training:Seller will provide up to 80 within the first 60 days post transaction at no additional cost.
OperationsYear Established: 1972
Last Acquired: 2011
Form of Ownership: C Corp
Employees (full-time): 5
Business Hours: M-F: 8-5 SS: On-Call
Business Description:This business has been serving the local market for almost 50 years installing, servicing and maintaining residential and commercial HVAC equipment. The business was founded and run by family until its sale to the current owner/operator. 37% commercial install, 30% residential install, 29% service, and 4% maintenance agreements. Published reports estimate growth in the 25% range over the next five years. The owner works approximately 20 hours per week and believes that the business could be run absentee with the right manager/technician. Inventory is not included in the asking price. Inventory, which includes primarily coolant, fluctuates over the course of a year and will be sold at cost anticipated to be less than $5,000.
Historical Summary:Gross sales and profits have been stable
Owner Qualifications:Buyer does not need to be HVAC licensed. Seller is H3 licensed, but it is not being used. An electrical, H2 and H3 license is held by a key employee who is aware of the sale and committed to staying through the transition. Buyer should be proficient with Quickbooks, general HR, management, marketing, etc.
Competition:Reputable competition exists, but most competitors are one man and a truck competing primarily on price. This company is not the least or most expensive in the market and has loyal clients. This business is known for being on time, doing quality work at a fair price with a repair guarantee.
Potential Growth:New owner could jump start new business growth by engaging on social media. The business has not launched indoor air quality products such as UV lights, electrostatic filters, HEPA solutions etc. New owner could also expand into internet enabled thermostats, home integration and customization. Owner could hire an outside sales professional and/or work a full 40 hours/week.
LocationType of Location: Flex – Office
Option: month to month
Monthly Rent: $1,400
Square Footage: 3750
The business is operated out of a small office and separate home office with a warehouse for tools, service parts, equipment, sheet metal, metal fabrication equipment, records, etc.
Last Updated: Feb 5, 2019 / 4:23 PM
Financial Information Current as of: Oct 1, 2018 / 12:10 PM