Profitable Asphalt Maintenance Company

Not Disclosed, MI

West Michigan


Asking Price: Annual Revenue:
Not Disclosed $2,629,039

Services: Construction, Contractors


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RE: Profitable Asphalt Maintenance Company Broker: Max Friar
Owner Financing is Available!
Limited Seller-Financing Available for Qualified Buyers.

Quick Facts

Asking Price: Not Disclosed
Annual Revenue: $2,629,039
Net Profit: Not Disclosed
Cash Flow: $525,994
Total Debt: Not Disclosed
FF&E: $2,220,707
Real Estate: $600,000
Year Established: 1981
Employees: 21
BBN Listing #: 345645079
Broker Reference #: 123

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Business Overview:

This opportunity is a commercial, industrial, and residential asphalt maintenance company that offers a wide variety of services, including but not limited to asphalt sealcoating, infra-red patching, drain repairs, removal and replacement of asphalt, crack filling, and striping. The Company’s primary focus is on servicing commercial customers, many of whom are recurring and maintain long-standing maintenance agreements with the Company.

The Company was founded in the 1970s by the current Owner. The Owner is actively involved in the Business, and the Owner’s partner is involved minimally on a part-time basis. The Company’s current leadership team has an average tenure of over 20 years, while the Company’s crew leaders have an average tenure of nearly 11 years. All the members of the leadership team, as well as crew leaders, intend to remain with the Business.

The real estate is owned through the Owner’s real estate holding entity. Located on the Company’s property are six buildings, all fully utilized by the Company for various purposes related to the Business’s operations. All the buildings have been painted within the last few years and are all structurally and visually well-maintained. The real estate has an estimated value of $600,000. Ownership is flexible regarding the sale or lease of the real estate.

Thank you for reading this overview. The extent of the information that we are publicly permitted to reveal about this opportunity is contained in this overview. Please submit your contact information in the provided form. We have automated the processing of NDAs and sending of information for speed and efficiency. You will be sent a link to our online NDA. IF YOU DO NOT RECEIVE THE NDA LINK, PLEASE CHECK YOUR JUNK MAIL. If the email cannot be found, please email us and request a PDF version.

Once we receive your NDA and answers to some basic questions, the Confidential Information Memorandum (CIM) will be sent to you by the project manager.

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Property Features and Assets:

The Company operates out of facilities located on roughly one and a half acres of property. Located on the property is a collection of six buildings, which includes a combination of office space and garage space to store vehicles and equipment. Housed within the first building is approximately 500 square feet of office space, accompanied by a lunch area and gym space. The remainder of the buildings on the property are home to sealcoating tanks, a sand pit, a hot water pressure washer, mechanical lifts, paint prep booth, and open parking to store and service equipment and vehicles.

Market Competition and Expansion:

Investment Highlights: (1) Brand Reputation and Recognition: The Company is well-known as an industry leader in the region in which the Company operates. For over 30 years, the Company has strived to exceed customers’ expectations. By satisfying customers time and time again, the Company has earned a reputation for providing unmatched quality and a seamless customer experience. Additionally, the Owner has created strong brand recognition by assembling a fleet of well-maintained, distinct vehicles, which the Company is known for. (2) Recurring Revenue and Maintenance Contracts: A large portion of the Company’s revenue is derived from recurring customers; as the Company’s customers are routinely satisfied, they refuse to consider other competitors. Approximately 80% of the Company’s revenue is derived from the commercial segment, as commercial asphalt services require routine maintenance to prolong the surface's life and limit the property owner’s liability, should an injury occur on an asphalt surface. Asphalt maintenance is a non-discretionary expense for property owners, so the Company strives to deliver perfection through each project to ensure satisfied customers come back every year. (3) Equipment and Personnel: The Company is equipped with a substantial base of equipment and personnel. One of the Owner’s highest priorities is to ensure that routine maintenance is properly conducted on all equipment to prevent catastrophic failures. The Company has idle equipment not being utilized to its fullest potential at any given time, presenting a value-adding opportunity. Additionally, the Owner has worked vigorously to create a family-first working environment which has led to low turnover and an average tenure of 10+ years throughout the Company. Growth Opportunities: (1) Implementation of Customer Relationship Management (CRM) Software: The Company currently does not leverage any systems or automation to the Business’ advantage. Implementing a Customer Relationship Management (CRM) system could greatly benefit the Company by reaching out to new prospective customers and managing relationships with existing customers more effectively. Additionally, the Company could utilize a CRM solution to refine current marketing strategies and assist with converting prospects to customers. Many CRM platforms also offer data analytics and feedback, which could help the Company select market segments to target. (2) Offering Snow Plowing Services in the Winter: Due to the Midwest’s four seasons and cold winters, the Company can only offer asphalt services typically 7-8 months out of the year. To increase revenue beyond current levels, new Ownership could expand the Company’s operations to include offering snow plowing services in the winter. Already owning a substantial equipment base, minimal capital expenditures would be required to prepare the Company’s equipment for snow removal. Additionally, snow plowing services could be easily offered to the Company’s current base of commercial customers, whom the Company works diligently with to maintain long-standing relationships. (3) Increased Web and Social Media Presence: The Company’s website appears to be visually outdated and simplistic, with all the content currently located on one page. Expanding the website into multiple pages and revamping the design could increase the Company’s Search Engine Optimization (SEO), helping to push the Business higher up among search engine results on the Internet. Additionally, the Company could create and utilize social media pages to showcase completed projects and draw in prospective customers. Social media advertisements could strategically be implemented to target commercial and residential customers within the Company’s operating region and publicize the quality of the Company’s work.

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.

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