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General Business Information
Listing ID:
4110-00344
Listing Type:
Exclusive Right of Sale
Price:
$595,000
Down Payment:
$100,800
Category:
Construction
Subcategory:
Stucco
County:
Citrus
State/Prov:
Florida
Country:
United States
Sales:
$1,429,412
SDE:
$314,840
Description of Business
A stucco company with over 25 years in business is for sale, and the owner is ready to retire. This business has an excellent reputation and has been doing mostly residential stucco work, with room for growth in commercial projects.
The business does about 150 projects a year, with most of them falling between $6k-$12k. The owner delivers inventory such as bags of cement or other miscellaneous supplies to the job site from time to time, and there is no special licensing needed to operate the business. Currently, all the work is coming from existing clients and referrals, and there is no advertising going on. However, advertising and marketing could expand the business further.
The company works with 15-18 main contractors and builders, with none of them contributing more than 10% of revenue. This diversification minimizes the risk of losing business from a single source. There are 15 long-term employees in place, all of whom are W-2.
If the new buyer is not going to be doing stucco themselves and would be operating more as a business person, the discretionary earnings would be $45,000 less. However, the business is very scalable and has growth opportunities for the right buyer looking to expand. The current owner has not wanted to grow the company, but there are growth opportunities for those who are interested.
It is important to the seller that the business is successful post-closing, and they are willing to stay on for 6 months post-closing to ensure the new owner has a good understanding of the business. The seller has built a solid reputation that can be leveraged by the new owner.
Listing Details
Location:
Florida's West Coast
Organization Type:
Sub-S Corporation
Hours of Operation:
7a - 4p
Years Established:
37
Years Owned:
37
Employees FT:
15
Amount of Hours Owner Works:
45
Is Relocatable:
Yes
Is Home Based:
Yes
Is a Franchise:
No
Is Lender Pre Qualified:
Yes
May Qualify for a Visa:
Yes
Financial Information
INCOME PERIOD, Year
GROSS SALES
– Costs of Goods Sold
= Gross Profit
– Total Expenses
= Net Before Taxes
ADD BACKS
+ Owner(s) Salary
+ Benefits
+ Interest Expense
+ Depreciation
+ Other $0
TOTAL OWNER BENEFIT
2022
$1,429,412
$988,200
$441,212
$272,143
$169,069
$126,608
$0
$0
$19,163
$-18,000
$296,840
2021
$1,179,044
$720,330
$458,714
$276,524
$182,190
$132,010
$0
$0
$16,324
$-17,132
$313,392
Tax Return
$1,318,618
$905,942
$412,676
$311,634
$101,042
$172,774
$0
$0
$31,127
$-17,772
$287,171
Assets Included in Sale
Other:
$0
FF+E:
$60,000 Included
Total Assets Included:
$60,000
Lease Information
Building Type:
Home based business.
Summary
Training and Support:
Sellers are willing to stay on post closing for 6 months to help the new owner have a good understanding of business and ensure successful continuity.
Non Compete:
50 miles for 5 years
Owner Qualifications:
Construction experience helpful, stucco experience not needed.
For more information on this listing, please complete our Non-Disclosure Agreement
LISTING BROKER
General Business Information
Listing ID: 4110-00344
Listing Type: Exclusive Right of Sale
Price: $595,000
Down Payment: $100,800
Category: Construction
Subcategory: Stucco
County: Citrus
State/Prov: Florida
Country: United States
Sales: $1,429,412
SDE: $314,840
Description of Business
A stucco company with over 25 years in business is for sale, and the owner is ready to retire. This business has an excellent reputation and has been doing mostly residential stucco work, with room for growth in commercial projects.
The business does about 150 projects a year, with most of them falling between $6k-$12k. The owner delivers inventory such as bags of cement or other miscellaneous supplies to the job site from time to time, and there is no special licensing needed to operate the business. Currently, all the work is coming from existing clients and referrals, and there is no advertising going on. However, advertising and marketing could expand the business further.
The company works with 15-18 main contractors and builders, with none of them contributing more than 10% of revenue. This diversification minimizes the risk of losing business from a single source. There are 15 long-term employees in place, all of whom are W-2.
If the new buyer is not going to be doing stucco themselves and would be operating more as a business person, the discretionary earnings would be $45,000 less. However, the business is very scalable and has growth opportunities for the right buyer looking to expand. The current owner has not wanted to grow the company, but there are growth opportunities for those who are interested.
It is important to the seller that the business is successful post-closing, and they are willing to stay on for 6 months post-closing to ensure the new owner has a good understanding of the business. The seller has built a solid reputation that can be leveraged by the new owner.
Listing Details
Location: Florida's West Coast
Organization Type: Sub-S Corporation
Hours of Operation: 7a - 4p
Years Established: 37
Years Owned: 37
Employees FT: 15
Amount of Hours Owner Works: 45
Is Relocatable: Yes
Is Home Based: Yes
Is a Franchise: No
Is Lender Pre Qualified: Yes
May Qualify for a Visa: Yes
Financial Information
INCOME PERIOD, Year: 2022
GROSS SALES: $1,429,412
– Costs of Goods Sold: $988,200
= Gross Profit: $441,212
– Total Expenses: $272,143
= Net Before Taxes: $169,069
ADD BACKS
+ Owner(s) Salary: $126,608
+ Benefits: $0
+ Interest Expense: $0
+ Depreciation: $19,163
+ Other $0: $-18,000
TOTAL OWNER BENEFIT: $296,840
INCOME PERIOD, Year: 2021
GROSS SALES: $1,179,044
– Costs of Goods Sold: $720,330
= Gross Profit: $458,714
– Total Expenses: $276,524
= Net Before Taxes: $182,190
ADD BACKS
+ Owner(s) Salary: $132,010
+ Benefits: $0
+ Interest Expense: $0
+ Depreciation: $16,324
+ Other $0: $-17,132
TOTAL OWNER BENEFIT: $313,392
INCOME PERIOD, Year: Tax Return
GROSS SALES: $1,318,618
– Costs of Goods Sold: $905,942
= Gross Profit: $412,676
– Total Expenses: $311,634
= Net Before Taxes: $101,042
ADD BACKS
+ Owner(s) Salary: $172,774
+ Benefits: $0
+ Interest Expense: $0
+ Depreciation: $31,127
+ Other $0: $-17,772
TOTAL OWNER BENEFIT: $287,171
Assets Included in Sale
FF+E: $60,000 Included
Other: $0
Total Assets Included: $60,000
Lease Information
Building Type: Home based business.
Summary
Training and Support: Sellers are willing to stay on post closing for 6 months to help the new owner have a good understanding of business and ensure successful continuity.
Non Compete: 50 miles for 5 years
Owner Qualifications: Construction experience helpful, stucco experience not needed.
LISTING BROKER