Owner Financing is Available!
Business Overview:
Established in 1976, this well-known and well-regarded company is engaged in the sales and installation of flooring products primarily to the commercial market in the greater Washington, DC metro area. It sells and installs broadloom carpet and carpet tiles, sheet vinyl and vinyl tiles, ceramic tiles and wood flooring to customers in MD, VA and DC. It has a strong and stable repeat customer base of property management companies, GC's and end-users. About 50% of work is negotiated. Almost all of the work is replacement, multi-unit apartment turnovers and tenant build-out; less than 10% typically relates to new construction. The company is located in the heart of one of the nation’s strongest markets. Because of federal government spending, the Washington area is largely insulated from the worst effects of economic downturns. The area is extraordinarily affluent, with 7 of the nation’s top-10 richest counties. Because of its location and because of its established relationships with its customers (the 7-person sales force has an average tenure of over 13 years), the company was barely affected by the recession. The company historically generates $10-12 million in revenues and historically cash-flows $1.4-2M in good times and $1M in bad economies. The company does very little marketing and has not made significant efforts to expand its customer base. With more aggressive marketing, new ownership could easily leverage this company - with a 35-year track record - into a much larger company.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
The business rents an 11,000 square feet leasehold that houses both office and warehouse functions. The facility is in good condition and is convenient to the business's job sites. A long-term lease will be available to the business buyer. The property is also available for purchase.
Market Competition and Expansion:
There are several other firms of similar size in the Washington, DC market, but this firm is able to compete effectively with them on quality and service. The company has several excellent avenues for growth: 1. Expand its new insurance replacement division; 2. Focus more on the multi-unit apartment market; 3. Market pro-actively to pick up new PM and GC customers; 4. Increase marketing for retail sales.
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.
Resources: