Profitable Service Business - West Michigan

Not Disclosed, MI

West Michigan


Asking Price: Annual Revenue:
Not Disclosed $1,165,555

Services: Non-classifiable


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RE: Profitable Service Business - West Michigan Broker: Max Friar
Owner Financing is Available!
Limited Seller-Financing Available for Qualified Buyers.

Quick Facts

Asking Price: Not Disclosed
Annual Revenue: $1,165,555
Net Profit: Not Disclosed
Cash Flow: $212,739
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: $385,000
Year Established: 1997
Employees: 8
BBN Listing #: 967545079
Broker Reference #: 135

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Business Overview:

Founded in the 1990s, the Company specializes in repairing commercial and industrial appliances and equipment, primarily those used within food preparation, refrigeration, coffee, espresso, and HVAC applications. The Company’s experienced staff boasts an average tenure of 7+ years and helps it maintain its strong reputation in the West Michigan market.

Focusing on the restaurant, catering, and café industries, the Company’s customer base is comprised of restaurants, caterers, cafés, bistros, pubs, breweries, institutional kitchens such as colleges/universities, primary education schools, retirement homes, and more. The Company also has a fully functional shop and can work on small equipment at the Company’s facility when it is more convenient.

The Company is warranty authorized and factory trained for a multitude of manufacturers. In order to be able to fulfill all customer’s needs, the Company stocks parts for a variety of equipment. Based in West Michigan, the Company caters to customers throughout the Grand Rapids, Lansing, Holland, Grand Haven, Muskegon, Kalamazoo, Portage, and Battle Creek areas. Depending on customer’s requests and the scope of desired projects, the Company has historically traveled to the Ann Arbor area, metro Detroit, and Indiana to complete special jobs.

The Company operates out of a recently updated facility, containing a shop area and office portion. The facility is valued at an estimated $385K and owned through a related holding entity. The owners are open to the sale or lease of the facility to new ownership.

Company ownership is active in the daily operations of the Business and willing to provide reasonable and customary transition assistance.

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 info@caldergr.com 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.

IF YOU DO NOT RECEIVE A FOLLOW-UP EMAIL AFTER YOU SUBMIT YOUR NDA, PLEASE CHECK YOUR JUNK MAIL FIRST. If you do not see the email there, please email info@caldergr.com for support. Thank you in advance!

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Property Features and Assets:

4,800 square foot facility, recently renovated and maintained in good condition.

Market Competition and Expansion:

Investment Highlights Include: (1) Established Reputation: The Company boasts a strong reputation in the West Michigan market and is the go-to equipment service and repair business in the area. The Company boasts a 5-star rating from 9 reviews on Google. (2) Diversified Customer Base: With a customer database of approximately 1,200 clients, the Company’s customer base is substantially diverse. The number of facilities requiring the Company’s services is significant, leading to vast diversity in customer types. The Company’s ability to handle work ranging from coffee machine repairs to HVAC maintenance widens its draw of customers. The Company is able to decrease cyclicality and increase predictability of financial performance due in part to this diversity. (3) Easy to Operate Business Model: With consistent demand from customers, tenured and experienced employees, and an established reputation in West Michigan, the Company’s business model is relatively basic to operate. The Company runs a straightforward process without much specialization in terms of equipment or operations. This easy to operate business model should ease the transition of ownership and flatten the learning curve for the new owner(s). Growth Opportunities Include: (1) Improved Marketing and Web Tactics: The Company has a serviceable website that educates visitors on its services and generates additional business. While the website and overall web presence is functional, there is room for improvement. The Company could benefit from an improved design and user experience, implementing search engine optimization (SEO) best practices, and increasing the amount of content. (2) Warranty Partnerships: As a leading equipment repair business in West Michigan, the company is trusted by manufacturers to handle their warranty repairs. The Company has partnerships in place and routinely completes maintenance work for True, Manitowoc, Ice O Matic, XLT Pizza Ovens, Blue Air, Royal, Franke, La Marzocco, Nuova Simonelli, and more. The Company maintains strong relationships with these companies but does not fully maximize the opportunities surrounding warranty work. (3) Expanded Workforce: Currently, the Company is operating under its maximum operational capacity and has the management staff to operate at a considerably expanded financial level. Under current ownership, the Company has not pursued growth; however, the existing management structure could easily handle adding 3 or more full-time field technicians, which would create additional revenue while limiting supplemental overhead costs.

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.

Relevant Links:

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