Business for Sale Overview:
Established in 1973, this well-regarded drywall contractor is one of the area's premier providers of drywall installation and finishing services, working as a subcontractor to many of the area's major builders. The company's services include hanging drywall, installing acoustic ceilings, plastering, taping, spackling and painting. The firm is known in the industry as the "go-to" company when a difficult job has to be done right. Its estimating, supervisory and production staffs are all top notch. The company has a long history of successfully tackling projects for demanding clients such as the Smithsonian Institution, the National Gallery of Art, the Kennedy Center, the FBI, etc. The company is well insulated from real estate boom and bust cycles, as 85-90% of its revenues are derived from work for the federal government (bid through GC's). The company employs no salespeple and engages in no marketing efforts. Its sales efforts are 100% reactive: it only responds to invitations to bid. The owner is not a native-English speaker, a fact that, he beleives, has held back the growth of the company. The owner believes that new ownership, with better English and marketing skills, could easily leverage the reputation and track record of this extraordinary company into a business many times its current size. Price includes real estate valued at $350K as well as $400K of accounts receivable.
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Property Features and Assets:
Well-maintained 1,300 s/f office space located on an approximately 21,000 s/f lot. Industrial zoning; favorably sited convenient to all major highways. Conservatively valued at $350,000, the real estate is owned by the corporation and included in the $1,850,000 price.
Market Competition and Expansion:
There are several larger companies (upwards of $100M) and some smaller companies specializing in drywall services in this market, but none with the reputation and track record of this company. The company does no marketing and has no sales force. Hiring an outside salesperson, attending trade shows, and, in general, getting the company's name in front of GC's would greatly increase opportunites to bid. The company could also expand into the general commercial (non-government) market and expand geographically to increase revenues.
Reason for Selling:
Retirement.
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
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