Wow! Profitable Mfg Biz w/Bldg and 85% Seller Note

Lansing, MI
Ingham County


Asking Price: Annual Revenue:
$395,000 $560,000

Manufacturing: Wood, Stone, Concrete


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RE: Wow! Profitable Mfg Biz w/Bldg and 85% Seller Note Broker: Mike Greengard

Quick Facts

Asking Price: $395,000
Annual Revenue: $560,000
Net Profit: Not Disclosed
Cash Flow: $75,000
Total Debt: Not Disclosed
FF&E: $255,000
Real Estate: $315,000
Year Established: 1988
Employees: 3
BBN Listing #: 246531216
Broker Reference #: MG1050621

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Business Overview:

This is a perfect opportunity for an aspiring, undercapitalized woodworking entrepreneur to purchase a profitable woodworking business for 15% down and 85% seller financing. No need for banking on this deal.

This 33 year old business is located in a two story, older building which (a) has 3100 square feet per floor, (b) is included in the sale price, and (c) has been remodeled by the seller a few times over the past 30 years. The facility is located in a trendy section of Lansing (MI) just minutes from the Michigan State Capitol.

This smaller business has averaged annual revenues of $560,000 over the past three years, 2018, 2019, and 2020. The average, annual SDE (seller’s discretionary earnings – the historical cash flow available to pay the buyer and service the seller note) over the same period has been $75,000. After selling his business to only the second owner in its history, the founder-owner-seller plans to help the buyer with appropriate post-close transition training after which the seller plans to retire.

In addition to the goodwill of the business, the sale includes the following:

1. 6,200 square foot building which was given a written, third party market assessment of $315,000 earlier in 2021.
2. $255,000 (cost basis) of machinery, equipment, fixed assets and vehicles.
3. $15,000 (cost basis) of active inventory.

With a wealth of fixed assets included in the listing price, this business is “priced to sell” at $395,000. The seller is looking for 15% ($59,000) down and plans to carry an 85% ($336,000) 10 year, 6.0% seller note.

This is an extraordinary opportunity to buy a fully equipped woodworking business with annual sales exceeding $500,000, a positive cash flow, and a “cool” facility (included in the sale), all for $59,000 down and a “buyer friendly” seller note. And remember, there is no banking required on this deal.

Opportunities would seem to abound for an eager and aggressive new owner-operator starting with creating a website (the business has never had one) and contacting new potential customers in the region.

For more information on this intriguing business opportunity, please contact Mike Greengard. Please use email reply button of this ad to contact us.

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:

Two story older building that has been remodeled.

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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