Established, Profitable Plumbing Contractor. SBA Financing
Established, Profitable Plumbing Contractor. SBA Financing
Price: $1,900,000
Location: Nassau County, NY
Industry: Utilities
Listing ID: Rapt5598
This present owner opened this plumbing business in 1991. The firm provides plumbing, heating, fire sprinkler & back flow prevention services, to residential and commercial accounts, Ownership holds Master Plumber licenses in NYC and North Hempstead.
Based on IRS data (without potential additional income) with a buyer investment of $208K, SBA financing of ~$1.77MM could be available to a qualified buyer. Obviously, the bank would prefer a buyer with plumbing experience.
The business provides well over 90% of its services within a 5-mile radius of the office, minimizing travel time for its crews. Ownership estimates that service represents 90% of the business and the balance is boiler installations and new construction.
The company provides full-service plumbing repairs, alterations, and new construction. The firm is also recognized as an expert in hydronic and steam heating systems in residential and commercial buildings.
Total Sales: $2,530,000
Cash Flow: $615,000
FFE Included: Yes
FFE: $100,000
Reason For Sale:
Retirement/estate planning.
Training & Support:
As part of the purchase price the seller will provide 1 month of suport to transition the business. Additionally, he is willing to remain as an employee forup to 3 years to assure customer retention.
Year Established: 1991
Employees: 10
Monthly Rent: $7,500
Square Footage: 1500
Facilities Information:
Lease Expiration:12/31/2035
The company also provides fire sprinkler service, repairs, alterations, and installation in Nassau County and performs fire sprinkler quarterly and annual inspections.
While fire sprinklers are presently a small part of the business, this service is highly profitable, and ownership believes has a high growth potential.
Ownership is willing to provide attractive financing on a case-by-case basis to a qualified buyer at its sole discretion. An owner who is a licensed Master Plumber is willing to remain as an employee for several years to assure customer retention.
The business is located in a one story ~1,500 sq. ft building with a warehouse and office area. The building is owned by the seller, and he will provide a lease to a new buyer. The seller would also consider selling, or a lease clause offering the buyer the right of first refusal.
Potential Growth:
The seller presently focusus on servicing an area within a 5 mile radius of his office. There is room to expand, particularly into the NYC marketplace. Additionally, while fire sprinklers are presently a small part of the business, this service is highly profitable, and ownership believes this is a service with a high growth potential.
Financing/Terms:
The deal has been prequalified for a $1.77MM SBA backed loan for an acceptable buyer. Alternatively, the seller will consider providing financing on a case-by case basis at his sole discretion with at least 30% down.
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