Lucrative Stucco Business, No Special License Needed

General Business Information

Listing ID:

4110-00419

Listing Type:

Exclusive Right of Sale

Price:

$650,000

Down Payment:

$78,000

Category:

Construction

Subcategory:

Construction Contractor Other

County:

Citrus

State/Prov:

Florida

Country:

United States

Sales:

$1,701,014

SDE:

$255,276

Description of Business

This lucrative stucco company represents a
prime acquisition opportunity in the flourishing
construction sector of central Florida, offering the chance for a buyer to take advantage of the booming market.

After multiple decades of developing the business, which is known for its exceptional service, the current owners are looking to retire and hand the company over to a buyer who is able to build upon its solid reputation, skilled team of employees, and take advantage of the potential for growth offered by the influx of new residents to the state of Florida.

The company has experienced a strong start to 2024 and further growth can be achieved by adding to the three existing crews, expanding into the commercial sector where they are currently having to turn down work, increasing the geographical service area of the business, or implementing a marketing campaign to attract new customers as all of the work currently comes from existing clients or referrals.

The company has well-established relationships with a wide range of contractors and builders to ensure a diversified client base that means no single customer accounts for more than 10% of revenue. There are 15 long-term, experienced employees in place, all of whom are W-2, and the business completes approximately 150 projects per year.

There are minimal licensing requirements for operation which further simplifies management of the business, making it an ideal opportunity for individuals with business acumen or those seeking to enter the construction industry. The current owners have not sought to grow the business but are confident that an ambitious new owner could leverage the booming market to drive significant growth in revenue. There are GREAT BOOKS AND RECORDS in place.

The owners are willing to stay with the business for up to 6 months post-closing if needed to ensure a smooth transition for the buyer, and to help them drive the business forward.

Listing Details

Location:

West Central Florida

Organization Type:

Sub-S Corporation

Hours of Operation:

Monday - Friday 7a - 4p

Years Established:

37

Years Owned:

37

Employees FT:

15

Employees PT:

0

Managers:

0

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
2023
$1,701,014

$1,321,304

$379,710

$254,815

$124,895
$90,999

$0

$0

$50,132

$-10,750
$255,276
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
Assets Included in Sale

Other:

$0

FF+E:

$60,000 Included

Summary

Reason for Sale:

Discuss with the seller.

Training and Support:

The current owners agree to work in the business at no compensation for a period of up to 6 months to ensure a smooth transition.

Non Compete:

The current owners agree to sign a non-compete agreement for a period of five years within a 50 mile radius of the business.

Owner Qualifications:

Construction experience is helpful but not necessary.

Financing Summary:

This business has been SBA Lender prequalified for a buyer who puts 10% and has $100,000 in working capital. The term is 10 years with monthly payments at approximately $9,656. A buyer who wishes to use SBA must also be prequalified with an SBA Lender.

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

Jim Parker

Jim Parker
General Business Information

Listing ID: 4110-00419

Listing Type: Exclusive Right of Sale

Price: $650,000

Down Payment: $78,000

Category: Construction

Subcategory: Construction Contractor Other

County: Citrus

State/Prov: Florida

Country: United States

Sales: $1,701,014

SDE: $255,276

Description of Business

This lucrative stucco company represents a
prime acquisition opportunity in the flourishing
construction sector of central Florida, offering the chance for a buyer to take advantage of the booming market.

After multiple decades of developing the business, which is known for its exceptional service, the current owners are looking to retire and hand the company over to a buyer who is able to build upon its solid reputation, skilled team of employees, and take advantage of the potential for growth offered by the influx of new residents to the state of Florida.

The company has experienced a strong start to 2024 and further growth can be achieved by adding to the three existing crews, expanding into the commercial sector where they are currently having to turn down work, increasing the geographical service area of the business, or implementing a marketing campaign to attract new customers as all of the work currently comes from existing clients or referrals.

The company has well-established relationships with a wide range of contractors and builders to ensure a diversified client base that means no single customer accounts for more than 10% of revenue. There are 15 long-term, experienced employees in place, all of whom are W-2, and the business completes approximately 150 projects per year.

There are minimal licensing requirements for operation which further simplifies management of the business, making it an ideal opportunity for individuals with business acumen or those seeking to enter the construction industry. The current owners have not sought to grow the business but are confident that an ambitious new owner could leverage the booming market to drive significant growth in revenue. There are GREAT BOOKS AND RECORDS in place.

The owners are willing to stay with the business for up to 6 months post-closing if needed to ensure a smooth transition for the buyer, and to help them drive the business forward.

Listing Details

Location: West Central Florida

Organization Type: Sub-S Corporation

Hours of Operation: Monday - Friday 7a - 4p

Years Established: 37

Years Owned: 37

Employees FT: 15

Employees PT: 0

Managers: 0

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: 2023


GROSS SALES: $1,701,014

– Costs of Goods Sold: $1,321,304

= Gross Profit: $379,710

– Total Expenses: $254,815

= Net Before Taxes: $124,895



ADD BACKS

+ Owner(s) Salary: $90,999

+ Benefits: $0

+ Interest Expense: $0

+ Depreciation: $50,132

+ Other $0: $-10,750



TOTAL OWNER BENEFIT: $255,276

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

Assets Included in Sale

FF+E: $60,000 Included

Other: $0

Summary

Reason for Sale:

Discuss with the seller.

Training and Support:

The current owners agree to work in the business at no compensation for a period of up to 6 months to ensure a smooth transition.

Non Compete: The current owners agree to sign a non-compete agreement for a period of five years within a 50 mile radius of the business.

Owner Qualifications:

Construction experience is helpful but not necessary.

Financing Summary: This business has been SBA Lender prequalified for a buyer who puts 10% and has $100,000 in working capital. The term is 10 years with monthly payments at approximately $9,656. A buyer who wishes to use SBA must also be prequalified with an SBA Lender.