Business Overview:
This business is a commercial cleaning company serving the Greater Littleton, NH and Northeast Kingdom, VT areas, specifically the communities of Littleton, Whitefield, Lisbon, Franconia, Woodsville, Bethlehem, St. Johnsbury, Lunenburg, and Newport. The business was founded in 1996 by the current owner and is currently made up of two Sub-Chapter S Corporations, one registered in VT and the other in NH. Both entities are being sold as one business. This home-based business’ price includes all tangible and intangible assets including furniture, fixtures, equipment, intellectual property, and goodwill.
The company provides weekly and daily cleaning services by fully uniformed, friendly, and professional technicians, and is fully insured. Services include commercial, industrial, medical janitorial, carpet cleaning, floor polishing, and floor refinishing. Customers include banks hospitals, medical offices, industrial buildings, and offices with no job being too big or too small.
This successful business not only survived but flourished during the COVID-19 realities of 2020. Revenues were up 15% from 2019 to 2020. There is every indication that business will continue to thrive in 2021 and beyond. The seller is trying to develop a more aggressive marketing plan and better management of payroll costs to increase the already healthy bottom line, but with business so robust, he is not able to accomplish this as quickly as he would like. As business has increased, the seller has been working on evaluating job to cost analyses in order to work smarter, not harder. He is looking at low profitability customers as compared with high profitability customers to determine how to achieve higher profitability rather than concentrating on just maximizing revenues. Thankfully, business is strong enough to allow him this type of analysis
The Commercial Cleaning/Janitorial Services industry is anticipated to continue growing in this business’ market area as many industries are expected to outsource cleaning activities to janitorial and cleaning service specialists. In particular, education, healthcare, and medical related industries, which outsource the majority of their cleaning requirements, will provide sustained growth for the industry. An aging US population and greater demand for healthcare services will bolster demand for cleaning services for medical and surgical hospitals, urgent care clinics, diagnostic labs, and research facilities. As a result of these improving conditions, industry revenue is forecast to increase at an annualized rate of 1.1% over the next five years.
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Reason for Selling:
The seller has been operating this business for almost 25 years and is ready to semi-retire.
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is a homebased business opportunity.
- This is not a franchise resale opportunity.
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