Cleaning And Property Management Co., Eastern LI
Cleaning And Property Management Co., Eastern LI
Price: $1,300,000
Location: Suffolk County, NY
Industry: Other Services (except Public Administration)
Listing ID: RaptID_5588
This profitable, well known company has been providing premium services to upscale clientele on the East End of LI for over 25 years. While the pandemic has resulted in more demand and business opportunities are growing, ownership has reached retirement age and has been turning down additional business!
This is an excellent opportunity to acquire a business that is primed for growth. No special knowledge is needed; just the ability to manage and schedule personnel and assure customer satisfaction.
The company presently services about 200 accounts with signed agreements, requiring a staff of about 30 cleaning people. Payments are remitted as services are provided on a weekly basis providing adequate working capital.
Total Sales: $1,060,000
Cash Flow: $316,000
FFE Included: Yes
FFE: $15,000
Reason For Sale:
Seller is burnt-out and has reached retirement age
Training & Support:
Seller will remain for sufficient period to transition the business.
Year Established: 1999
Employees: 6
Facilities Information:
Activity on the East End of LI has grown exponentially since the pandemic hit. During the COVID-19 shutdowns, many people decided that if they were going to work from home they may as well leave the city congestion and live in a safer family environment. Presently, the East End of LI is booming, with house prices soaring and many previously summer residents becoming year-round residents, creating an opportunity for even greater growth.
The present owner is a “people person”, well suited for handling difficult clients, but not an analytical “number cruncher”. It is expected that the business would benefit from the guidance of a more analytical ownership, with a detailed perspective of cost and pricing analysis.
The company provides its services to communities throughout the East End of Long Island.
Competition:
Cleaning services are often provided by individuals, operating alone, or as a family of workers and they are not considered serious competition. This company typically requires a staff of 65 people to service about 200 accounts. While there are two main competitors in the marketplace neither provides the personal attention to detail that this company provides and neither is considered serious competition by the owner.
Potential Growth:
There is significant room for growth. Ownership is not motivated to grow the business and in fact has been turning down new customers for the past several years! More and more East End enterprises are remaining open year-round, and offers untapped new business opportunities. Additionally, many of the existing clients love the service provided and they have other homes and are potential new business targets. In addition to marketing opportunities to increase sales, the business would benefit greatly with ownership with a fresh perspective to thoroughly review billing and staffing procedures. The present owner is “burnt-out” and is not an analytically oriented person and relies on others for many tasks that a more computer-savvy person would perform. The business would benefit with a more “bottom line” oriented owner, motivated to operate a more profitable, efficient business.
Financing/Terms:
Seller will consider a small note to a qualified buyer.
For more information on this listing, please complete our Non-Disclosure Agreement
