Profitable and Busy PDX Locksmith Business

Not Disclosed, OR
Multnomah County

Asking Price: Annual Revenue:
$800,000 $746,298

Services: Home Improvement, Repair, Painting

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RE: Profitable and Busy PDX Locksmith Business Broker: Michael Morrissey

Quick Facts

Asking Price: $800,000
Annual Revenue: $746,298
Net Profit: Not Disclosed
Cash Flow: $274,870
Total Debt: Not Disclosed
FF&E: $26,761
Real Estate: Not Disclosed
Year Established: 2018
Employees: 8
BBN Listing #: 530552348
Broker Reference #: 59071-535423

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Business Overview:

This very profitable Locksmith business provides mobile automotive, residential, and commercial services across the Portland Metro and Vancouver area. This semi-absentee business is run remotely by its Owners. The businesses customers are both one time or repeat small job customers and long-term contract customers such as commercial businesses and property management companies. The business has 6 employees and also works with outside contractors to refer out jobs. Referring jobs is an additional revenue stream for this business and a way the business has managed to grow steadily. The business enjoys low employee turnover. This business has a sterling reputation with with high ratings on Google. SBA Pre-Qualified by a Preferred SBA Lender.

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Property Features and Assets:

The business was started in the Spring of 2018 by the sellers who are a husband and wife team. By the fall of 2018 they hired their first tech and an office manager. From 2018-2021 the business saw tremendous growth, allowing the husband to step away from the business in order to focus on other endeavors and the wife available to only have to run the business part time. The business saw a boom during the pandemic and continues to grow.

Market Competition and Expansion:

There are many mobile locksmiths in the Portland Metro. The businesses great reputation, consistent pricing, reliability, and large service area set it apart from its competition. Taking on more long-term contracts and hiring on more technicians is the quick path for growth for this business. The sellers have been hesitant to do so since they currently reside out of state.

Reason for Selling:

Change of industry.

Additional Details:

  • The property is leased.
  • 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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