21 Year IT Services & Support Company

Business Overview:

WebsiteClosers® presents a 20+ year veteran in the IT Support Services industry, including a large in-person device repair center in Midtown Manhattan, Mail-In Device Fixes, Remote Support, and a wide variety of IT Support Services.

After 20 years in business, the brand has built up a solid set of reviews on Google Reviews and Yelp, with both having a 4.8-star average based off roughly 400 reviews. Their glowing customer reception is incredibly valuable for their reputation and would take a newcomer years to replicate. Outside of their excellent reviews, they also enjoy 33% Net Profit Margins, a 15.32% CAGR, and a modest churn rate of 3.5%.

They generate revenue through 2 key sources: on-site services performed at clients' locations, and in-shop repairs. They have built their customer database to 67,000 throughout the years, and since launching their warranty protection plan in 2022, they have gained nearly 1,600 active recurring customers and a 17% recurring revenue rate. Given that devices break down regardless of the time of year, they have no seasonality to speak of. Their average contract size is roughly $180 a year. As technology continues to proliferate, there is no question there will be a need for companies like this. And for a buyer, this could be an exciting opportunity to begin replicating onsite locations and create more hubs by which to operate. This can be done in Manhattan, throughout New York, and spread throughout the country.

Here are some of this brand’s notable KPIs:
• Long-Established Business: 21 Year History
• 3.5% Churn
• 33% Net Profit Margins
• 15.32% CAGR
• 1 Manhattan Location with low rent and flexible lease
• 17% of revenue is recurring as nearly 1,600 active recurring customers have signed up for their warranty protection plan
• Massive database of 67,000 customers
• Consistent 5-star ratings on Yelp and Google
• Highly optimized business, with the current ownership requiring only 10 hours per week
• $440,400 ARR

The current owner spends anywhere between 5 to 14 hours per week on their responsibilities, which include checking in with workers, reviewing service tickets, delegating schedule, and running payroll, among a few other key tasks. This semi-absentee business could be operated fully absentee, if needed, so that a new owner can focus on expanding the business. The straightforward structure of their business model means the brand is highly turn-key, requiring little hands-on input from ownership throughout the week.

Contact WebsiteClosers® today if you're interested in purchasing this brand and the possibilities that come with them.

WC 3458

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Additional Details:

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