Business Overview:
This welding operation has provided the seller many years of increasing Seller's Discretionary Earnings (2009/10 is exception). The owner has made significant financial commitments over the past two years to posture his company for continuing high levels of service for his customers, as well as for future growth capacity. ISO 9002 certification has meant more business in recent years. Sales from January to December, 2008 averaged over $750,000 per month. In 2009, sales dropped to $4,500,000, and will finish 2010 at an estimated $3,800,000. For 9-30-08, the average monthly adjusted net was over $180,000 per month. Then, one customer was 80% of sales. Now, that customer is 45% of business, and Seller's Discretionary Earnings should top $400,000 on sales just under $4MM (after a slow start is now dropping $150,000 per month to the bottom line on $400,000 of monthly sales; sales and net appear to be returning to historic norms). Prospective buyers will need to show a Financial Statement with at least $400,000 liquid to use in conjunction with an SBA loan. At the end of his lease term last year, the owner elected not to sign up for a long term lease to give more options to prospective buyers. This is not a location dependent business, and there is plenty of space within a twenty-five mile radius for the buyer who might want to move the business closer to himself.
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.
Reason for Selling:
Retirement
Additional Details:
- The property is leased.
- 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: