Business Category: Construction Businesses, Design, Miscellaneous Services, and Restoration
City/Region: Oakland County
Listing Price: $100,000
Cash Flow: $50,000
This Company is a well-established Kitchen and Bath design and renovation company located in southeast Michigan. Established in 1948, the Company is owned and operated by the son of the original founder.
The Company has a history of remaining virtually debt-free, with strong revenue, and the capability of sustaining two owners’ (the current owner and his brother, until 2015) comfortable personal net worth. The Company operates with several reliable and dependable subcontractors.
The Company mainly serves homeowners in need of a remodel, but approximately 30% of their revenue comes from insurance contractors, keeping the Company’s demand up even in times of economic turmoil.
The Company maintains excellent relations with its suppliers.
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Opportunities For Growth:
(1) Increased Marketing Efforts: The Company has done very well even with little marketing efforts, meaning that additional marketing could provide significant growth. The Company could increase their web/social media presence and update their website to be more current.
(2) New Construction: The Company mainly serves middle-aged professionals and dual income couples seeking home renovations and has not yet fully tapped the new construction market.
(3) Client Referrals: The Company receives many referrals from satisfied customers. The Company could increase their referral base by incentivizing such recommendations.
(4) Expansion of Service Offerings: The Company could easily pivot from mainly kitchen and bath renovations to other home renovations, such as home offices and pet control areas, which have gone up in demand during the time of the pandemic.
(1) Strong Customer Reputation: The Company has a longstanding reputation for their excellent work and receives many referrals from satisfied clients.
(2) Strong Financial Position: The Company has remained virtually debt-free over the years, with high profit margins and enough revenue to sustain strong personal net worth for two owners.
(3) Industry Partnerships and Recognitions: The Company prides itself on using cutting-edge kitchen design software to stay up to date in the industry. They have also received recognition from several organizations for their outstanding work, and they are a member of the National Kitchen & Bath Association.
(4) Insurance Clients: Approximately 30% of the Company’s revenue comes from insurance contractors, which provides a baseline of solid revenue even in times of economic turmoil, when kitchen updates become an unaffordable luxury for most homeowners.
Real Estate Available: Lease
Reason For Sale: Retirement