High Cash Flowing Garage Door Sales & Service Biz

Not Disclosed, MI

Southeast Michigan


Asking Price: Annual Revenue:
$1,400,000 $2,300,000

Retail: Hardware, Bldg. Materials, Garden Center


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RE: High Cash Flowing Garage Door Sales & Service Biz Broker: Steve Kandt

Quick Facts

Asking Price: $1,400,000
Annual Revenue: $2,300,000
Net Profit: Not Disclosed
Cash Flow: $300,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: $425,000
Year Established: 1995
Employees: 14
BBN Listing #: 290431216
Broker Reference #: SK1101820

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Business Overview:

The founder-owner-seller of this highly successful 25-year-old garage door business is ready to retire after transitioning his company to only its second owner. The company provides sales, installation, repair and maintenance services for garage doors and garage door openers throughout southeast Michigan.

This B to C business has no customer concentration. Relationships with property managers and home warranty companies are a minor source of revenue contributing only 5% of sales. B to B would seem to be an obvious source of future growth opportunity. A product line extension which also reflects a meaningful growth opportunity would be the addition of garage doors for commercial businesses, and entry doors for both residential and commercial applications.

The business services Oakland, Wayne, Macomb, Washtenaw, and Livingston counties with more than 50% of revenue concentrated in Oakland County. And, there is only one true competitor within a ten-mile radius of the business.

Customer satisfaction ratings are off the charts with literally hundreds who have taken the time to provide 5-star ratings. Businesses with this type of client satisfaction command a premium price, but as you will see the business, along with real estate, is competitively valued.

The real estate (included in the listing price) is comprised of attractive and conveniently located 6000 sf of facilities on a well-traveled road in a desirable and upscale (the median income exceeding $100,000) Detroit suburb.

The business employs five full time employees. Another nine long-time contractors are primarily dedicated and available to the company due to regular demand and a high pay scale. To maximize availability to its customer base, the business operates seven days a week. There is a strong, capable, full-time manager which enables the owner to work a very comfortable 35-40 hours per week!

The seller contemplates an asset sale in which he retains the cash and the minimal A/R, while retiring all liabilities. For the years from 2017 through 2019 revenues exceeded $2,000,000 each year, increasing to $2,300,000 in 2019. SDE (seller’s discretionary earnings - the historical, normalized cash flow available to pay an owner-operator and service debt) has averaged more than $270,000 from 2017 to 2019 rising to $300,000 in 2019. For 2020 the eight-month annualized revenues are on track to reach $2,400,000 with a whopping $370,000 of SDE. And importantly, there has been no negative impact on either sales or SDE performance due to the COVID-19 shutdown.

The business is being offered with real estate (which is valued at $425,000) for $1,400,000, with ample cash flow to easily cover debt service and pay the buyer an annual salary of $100,000. Inventory, currently valued at $110,000, is additional. And for a qualified buyer a six-figure seller note will be available.

For more information on this outstanding, well priced and unique business opportunity, please contact Steve Kandt.

To request more information regarding this listing, simply check the ADD TO REQUEST INFO BASKET button and when you are done searching and have made all your selections, simply click on the REQUEST INFO button at the bottom of the page.

Property Features and Assets:

An attractive and conveniently located 6,000 square feet of facilities on a well-traveled road in a desirable and upscale (the median income exceeding $100,000) Detroit suburb.

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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