HOA/Condo Management and Concierge Services Companies

Price: $1,695,000

Location: Withheld

Business Category: Real Estate Related

Business Subcategory: Property Management

Listing ID: 4110-00245

Listing Status: New

Description

** The information contained reflects 2 different businesses, with a symbiotic relationship ***
Family-owned and operated for all 14 years of the business's existence, is a Property Management and Concierge company serving HomeOwners' Associations and Condo Associations. Offices are located in both Central and West Florida, although the majority of the business is located in CFL (specifically in the tourist corridor). The company has approximately 45-48 contracts with different communities, responsible for between 10,000 - 11,000 doors. The contracts have been in place for significant periods of time, and are typically 3-year contracts.
The companies provide different levels of services to the communities served from specific portfolio services, to full-service on-site management. Services include, but are not limited to: financial services, coordination with board(s) of directors, vendor management, communication services, maintenance including valet trash, and on-site concierge services (registration, clubhouse management, staffing, etc).
Financials are clean, and adjustments have been made to account for replacement costs for the 2 current owner/operators. The owners are looking to retire, and are a bit burnt out from running the business for so long.
This is an excellent bolt-on business for an existing operation; and also is a great opportunity for an energized owner/operator with desire to grow the business. Several opportunities exist to increase sales and profitability, including exercising any effort to expand through conquesting in the highly concentrated area of managed communities, doing any form of marketing/advertising, growing through acquisition or consolidation, and by improving their current technologies and systems.

LISTING DETAILS

Down Payment: $1,695,000

Total Sales: $3,078,202

Discretionary Earnings: $635,945

Accounts Receivable: $5,000

Accounts Receivable Included: No

FFE: $75,000

FFE Included: Yes

Inventory: $2,500

Inventory Included: Yes

Operation

Year Established: 2008

Year of last Acquisition: 2008

Days & Hours of Operation: Mon-Thurs, 8a-5p | Friday, 8a-12p

Owner Hours Per Week: 60

Employees: 28

Managers: 2

Absentee Owner: No

Lease Option: Terms Negotiable

Location

Monthly Rent: $11,400

Type of Location: Office Buildings

Square Footage: 10216

Relocatable: Yes

Summary

Reason For Sale:

Discuss with the seller.

Training & Support:

Two weeks at no cost to buyer.

Owner Qualifications:

CAM FIRM and CAM (for an individual) is required, Business Management Experience

For more information on this listing, please complete our Non-Disclosure Agreement
LISTING BROKER

Carey Sobel

Carey Sobel