Business Overview:
The Company began by focusing primarily on home additions, kitchens, baths, and renovations and continues to be distinguished by their skilled carpentry. Their capable team of six can remedy any situation they may encounter in a remodel or siding project such as repairing structural supports compromised by water, insect, fire damage.
Included in the sale is a sister brand sharing employees and finances with The Company that specializes in residential and commercial siding. The Company is the leading installer of a popular fiber cement siding in Westchester county. These project offer a number of advantages over traditional construction projects: they are higher margin, more standardized, and require less marketing.
One of the primary strengths of The Company is its experienced and skilled team. The foreman is fully capable of managing the business day-to-day, a fact demonstrated by the fact that the owner spent the past winter in the Caribbean. The team functions like a well-oiled machine, with each worker understanding their specific role and responsibilities. Many of them have been with the firm since its inception. There have never been any lay-offs or workers quitting on short notice.
The Company's location in affluent Westchester County ensures consistent demand for work and insulation from economic risks. Despite high interest rates, 2023 appears to be the firm’s best year on record, just like ‘22 before it. The owner notes that the business also had a standout year in 2008, during the national housing crash.
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Property Features and Assets:
The owner manages the business from his home. Materials are delivered to the job sites directly and the Companies employees use their own personal vehicles. This reduces overhead costs.
Market Competition and Expansion:
There are a number of contractors in the Westchester area. The Company is distinguished by its focus on both construction and siding projects.
The business acquires customers from three channels: manufacturer referrals (30%), referrals from architects (30%), and referrals from previous customers (40%). This has provided sufficient demand that the current owner has chosen not to use Angie’s List or any other comparable listing services. There are a number of marketing channels like paid search and CRM marketing that a new owner could invest in.
Reason for Selling:
The owner is 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.
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