Absentee Moving & Storage Company in the Triangle

Not Disclosed, NC
Wake County

Research Triangle Area

Asking Price: Annual Revenue:
$949,500 $1,312,533

Services: Moving & Storage

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RE: Absentee Moving & Storage Company in the Triangle Broker: Don Emmett

Quick Facts

Asking Price: $949,500
Annual Revenue: $1,312,533
Net Profit: Not Disclosed
Cash Flow: $358,122
Total Debt: Not Disclosed
FF&E: $245,500
Real Estate: Not Disclosed
Year Established: 1998
Employees: 15
BBN Listing #: 57304955
Broker Reference #: 1310-16590

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Business Overview:

This Triangle, NC-based moving business has over a 20-year history of offering high-quality local and long-distance moving services for commercial and residential clients as well as onsite, vaulted storage. Its exceptional and consistent customer service has developed an industry-leading reputation for its brand among customers and was recently named one of the best moving companies in the local region. In 2019, the owner expanded business operations and affiliated with one of the largest and oldest U.S. moving companies. Now, their combined business agent network is comprised of 350 agents nationwide to assist with residential, commercial, and specialty moves.

The Company has experienced staff, and all vehicles and equipment required to serve its customers are included in the sale. Currently run absentee (less than 5-hours a week), the Discretionary Earnings shown is for a full-time owner/operator. The Discretionary Earnings for an absentee owner would be $306k.

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Property Features and Assets:

Industrial distribution property with 21,000 sq ft. rented, with more rentable space available. Building is located on a 2-acre lot. The facility is well-kept, inviting, with plenty of convenient parking and access to/from the highways. Reasonable rent of $7,360/month Assets = $245,500.

Market Competition and Expansion:

The Moving Services industry has a low-level of market share concentration, with the top four largest operators accounting for 9.5% of industry revenue. Most industry companies are small operators that participate in this industry as agents or subcontractors of larger companies or as local moving companies. According to the US Census, 83.9% of the employing companies in this industry have less than 20 employees. This business has an industry-leading reputation and has received several accolades within the local community. According to Our Town America, the Triangle is seeing a total of at least 5,000 new movers each and every month- roughly a 12% increase from last year. The Triangle can also expect to see even more people move to the area following Apple’s announcement that it is opening its first East Coast campus in Wake County. The company is expected to bring 3,000 new jobs and the state commerce department estimates the project will generate nearly $2 billion in additional state revenues through 2061. The Moving Services industry's performance is closely linked to the real estate market and often follows trends in housing construction because individuals and families moving to new residences are a major driver of demand growth. Over the five years to 2021, the house price index and housing starts are expected to grow at annualized rates of 4.6% and 4.5%, respectively. On the commercial side of the market segment, when business sentiment and corporate profit are healthy, businesses are more likely to expand and use third-party suppliers to move offices and send employees to new locations. Forecasts expect industry revenue to increase at an annualized rate of 1.7% over the five years to 2026, totaling $19.2 billion. Although the Moving Services industry experienced a decline as a result of the ongoing Covid-19 pandemic, negative effects of the coronavirus outbreak will likely be resolved in 2021 enabling the industry to grow over the five years to 2026. Along with the general domestic economy, both new residential construction spending and commercial construction spending are expected to continue to grow, allowing the industry to rebound from 2020 coronavirus lows. With corporate profit estimated to increase at an annualized rate of 7.9% over the next five years, the corporate customer market segment is expected to improve, no longer hindering revenue growth.

Reason for Selling:

Another business that requires his focus.

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.

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