Owner Financing is Available!
Business Overview:
The Company is a manufacturer of custom-built wooden and laminated cabinets and shelving for the commercial building industry. All casework that is manufactured meets or exceeds Premium Grade Architectural Woodwork Institute (AWI) standards. Around 80% of sales are from the education industry, 15% health care, and 5% commercial. Sales are approximately split between the states of Michigan and Ohio. The millwork and casework that is manufactured by the Company are all designed and fabricated in-house and offered at highly competitive prices. Shop employees are also all cross-trained between multiple functions.
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 Company operates from nearly 13,000 square feet of building space, owned by the shareholders and leased monthly to the Company. Assets of the Company include a Busellato router, a Gibben beam saw, and Planit Solutiosn CAD/CAM software. Ownership is willing to stay for a transition period of up to 2 years to help grow the business through a sales role.
The price of the business is $500,000, which includes the following assets of the business: customer list, existing booked business, office equipment, fixtures, supplies, goodwill and going concern values attached to the company. Those assets not included in the price of the business are the cash, accounts receivable (unless purchased), and accounts payable.
Market Competition and Expansion:
From 2009 to 2010, the Company s gross revenues increased 25% and adjusted EBITDA increased 56%. The Company has potential of expanding and increasing revenue greatly. By doing so, Ownership would be able to dedicate his/her time specifically to growing sales. Through aggressive marketing of the Company to architectural firms for only a year or less, Ownership believes that gross revenue could drastically increase.
By actively seeking out contractors doing private work for the health care industry, the Company could further expand its existing client-base already established in health care. Receiving certification through AWI QCP and through FSC CoC would also help to further build its reputation in the market. Lastly, an increase in warehouse space would greatly increase manufacturing capacity, allowing the Company to service more opportunities at a given time, which it is currently unable to do so.
Reason for Selling:
Retiring.
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.