Business Category: Miscellaneous Services and Painting/Coating
City/Region: Central MI
Listing Price: $565,000
Cash Flow: $244,000
Equipment Value: $210,000
Founded in 2001, the highly profitable industrial coating contractor has provided industrial and commercial painting and residential garage flooring services to customers across Michigan. The Company is highly reputable and respected within the industry and has many positive customer reviews online. The Company has significant growth potential available for an aggressive new owner who chooses to pursue more leads. The current owner spends several months traveling each year.
Due to the niche nature of the services offered, the Company can be relocated anywhere in Michigan.
The owner is selling the Company because he desires to relocate to a warmer climate where he already has a residence. The owner is willing to provide training and assistance during a period of transition.
Opportunities For Growth:
(1) Pursue Additional Marketing Initiatives: The owner does not market or advertise the Company or pursue significant growth as he has spent a considerable time (4 months) on vacation recently. While the Company has maintained steady business without advertisement, there is a great opportunity for growth through new marketing initiatives.
(2) Bid on New Projects: Because the owner has been satisfied with the Company’s profits, he has been selective on which projects to bid on. The Company does not bid on all projects that are submitted. A new owner could easily grow the Company by aggresively submitting bids on more of the proposals it receives.
(3) Hire Additional Staff: The Company could grow by hiring additional staff to quote and manage projects. Increasing staff would increase the Company’s project capacity.
(1) Leading Industry Reputation: The Company has developed a strong reputation within its industry and has been praised by past customers for its timely and quality service.
(2) Customer Base with Ability to Grow: The Company has a strong grasp on its target market with substantial opportunities for growth.
(3) Equipment Base: The Company owns a significant amount of equipment that is essential to perform projects and has been able to generate strong profit margins.
(4) Highly Profitable: The Company successfully generated 25% cash flow margins in 2017 while the owner has not aggressively pursued additional projects.
(5) Relocatable: The Company can be relocated anywhere within Michigan.
Reason For Sale: The owner is selling the Company because he desires to relocate to a warmer climate where he already has a residence. The owner is willing to provide training and assistance during a period of transition.
Number of Employees: 3