Business Overview:
Located in the Midwest, this cabinetry and millwork company has a strong reputation in their region. They have a commitment to excellence in their work which is shown by the large amount of repeat business. The company provides cabinets and casework to commercial clients. They work regularly for contractors who are building banks, schools, universities, creative spaces, medical offices, restaurants, hotels, daycares, etc. They are known for their reception desks, custom cabinets, workspaces, teller windows, and almost any other wooden or laminate space conceivable.
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Property Features and Assets:
The facilities are great for this business. There is ample shop and office space, with meeting rooms for client or team meetings. The property is not included in the sale of the business.
Assets = $1,045,591
Market Competition and Expansion:
Although in this industry competitors come and go, the company typically experiences a static or close to static number of competitors on any given project. While competition remains in this region, the company’s quality and production has consistently exceeded competitors. This allows the company to survive when the competitors do not.
This company is positioned well for growth. The plant could double its capacity by adding additional team members. There is the potential to more than double with larger day shift and adding a second shift with additional team members and no new equipment. This would allow for another $2+ million in business. This could be accomplished on the sales side by increasing bids submitted. The company has achieved more than half of the required gross revenue for fiscal year 2023 in signed contracts.
Reason for Selling:
The owners are ready to retire.
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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