High-Margin IT Service and Repair Company

Kentwood, MI
Kent County

Asking Price: Annual Revenue:
Not Disclosed $836,754

Services: Computer, Internet, Technology Repair & Services

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RE: High-Margin IT Service and Repair Company Broker: Max Friar
Owner Financing is Available!
Limited Seller-Financing Available for Qualified Buyers.

Quick Facts

Asking Price: Not Disclosed
Annual Revenue: $836,754
Net Profit: $238,380
Cash Flow: $245,722
Total Debt: Not Disclosed
FF&E: $80,312
Real Estate: Not Disclosed
Year Established: 2007
Employees: 5
BBN Listing #: 438045079
Broker Reference #: 115

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Business Overview:

The Company is a technology repair Company serving Michigan. The Company provides premium technology service, consultation, and sales to both residential and business customers, either in-store or on-site at their location. The Company holds the prestigious and highly exclusive Apple Authorized Service Provider (AASP) designation for both Apple computers and iPhone/iPad devices. There is no cost for the Company to hold the AASP, and the AASP designation results in consistent and lucrative referrals from Apple support agents, Apple Stores, and Apple.com. The Company services Macs, Personal Computers, and iPhones, as well as serves a large niche of small businesses who prefer a break/fix style of support instead of managed services. The Company is one of the only iPhone repair stores in Michigan that can offer certified Apple repairs besides the Apple Store. Although the Company services all brands, 50% to 60% of the devices that come through the door are Apple products. The Company’s next biggest market is servicing Microsoft/Windows products.

The Company’s mission statement is, “To provide outstanding customer-focused value and service. The Company portrays excellence in communication, appearance, product/service offering, and pricing. Numerous Google, Yelp, and Facebook reviews speak volumes to the thousands of satisfied customers the Company has served.

A silent owner owns 60%, and a semi-active owner (oversees day-to-day operations) owns 40% of the Company. Both owners are confident that the Company could run smoothly with the office manager leading the Company, along with the support of the Company’s technicians. To maintain current business performance, the new owner(s) could work 10 hours per week in a semi-passive role, allowing the office manager to manage the Company or be more heavily involved working hand in hand with the office manager to grow the Business. The current owners have exerted a lot of energy into building up the Company and feel that they have accomplished what they intended to do with the Company. The current owners are willing to provide reasonable and customary transition assistance to effectively transition the new owner(s) into the Business.

Buyers will be required to have a minimum of $300,000, solid credit, and preferably industry experience to qualify for SBA 7a financing.
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Property Features and Assets:

Both owners own the Company’s facility through a related real estate holding entity, which includes two suites (the Company occupies one suite, and another business occupies the other suite). The owners are open to selling or leasing the building.

Market Competition and Expansion:

(1) Apple Authorized Service Provider (AASP) Status: The Company is one of the only Apple Authorized iPhone locations in Michigan, making it one of the only local dealers that can provide genuine Apple parts and authorized repairs for iPhones. With its AASP Status, the Company can offer in-warranty and out-of-warranty repair services for any Apple product. Because the Company is one of the only Apple Authorized iPhone locations in Michigan, Apple Stores recommend all out-of-warranty customers that need repairs to the Company. If AppleCare covers a customer, the Company will handle the repair, and Apple will pay the bill on the customer’s behalf. Most importantly, Apple device repair represents roughly 49% of the cell phone repair market. If the Company decided to open new stores located where Apple Stores are absent, it could significantly increase referral business as they are one of the few businesses with multiple Apple repair certifications. (2) Personalized Customer Service and Reputable Brand: The Company’s primary goal is to relieve anxiety surrounding computer and phone issues and address problems promptly and professionally. The Company has built an exemplary reputation satisfying thousands of customers, and its polished image is represented by hundreds of excellent reviews online. The Apple Store highly recommends the Company. (3) One-Stop Shop: The Company is a one-stop shop with numerous solutions for customers’ technological problems. The Company provides installation, repair, recovery, and consultation services. Having a multitude of resources has given the Company a competitive advantage over industry peers. COVID-19 has made technology more important than ever before, and offering multiple capabilities provides the Company with the unique ability to cross-sell services/products efficiently. The unprecedented effects of COVID-19 have demonstrated the Company as a defensive business. Not only does the Company provide the newest models with the most powerful and highest performing technology, but it also offers refurbished computers to provide options to customers on a lower budget. Additionally, the Company’s team is highly educated in all service offerings. This provides the Company the ability to provide expert advice to customers and possibly sell them new products and services while their device is being repaired. (4) Stable and Defensive Business Model: Computers and phones have become increasingly important in recent years, and the COVID-19 pandemic has made efficient technology paramount. The Company boasts an average number of roughly 20+ appointments per day. The Business is steady throughout the year. The Company cannot handle the demand and is forced to deny numerous appointments each day. Adding new technicians will help facilitate the Company’s growth in a stable manner.

Reason for Selling:

The owners are involved in another growing business.

Additional Details:

  • The property is owned.
  • The owner is not 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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