Business Overview:
This opportunity is a West Michigan-based gasoline equipment installation and service provider. The Company's primary offerings include tank installation, tank removal, testing, commercial and retail (gas stations, counties, trucking companies), card readers for fuel tracking, retail communication equipment, and more. The Company holds the expertise to create complete fuel systems, from tank to pump, for both retail and commercial fueling stations.
For over 80 years, the Company has provided high-quality products by leveraging creative solutions tailored to each project's needs. Through workmanship that focuses on minimizing long-term costs and never cutting corners, the Company develops long-term relationships with key customers.
The current Owner bought into the Company in 1995 as a co-owner and became the sole Owner in 2004 when he bought out his partner. He regularly interacts with his employees by encouraging them through challenges and helping them find creative solutions. This has developed a solid workforce who enjoy working at the Company and require minimal oversight. He estimates that he could work only two and a half days per week and complete the necessary tasks for his position.
The Company operates out of a 12,000 square foot facility located in West Michigan. The building contains 2,400 square feet of office space, 6,000 square feet of warehouse space, and 3,600 square feet of garage space. The facility was built in 1997 and is in good shape with recent improvements to the parking lot, windows, and overhead doors. The facility’s estimated value is $1,200,000. The Owner is flexible to sell or lease the real estate depending on the buyer’s situation.
The Owner is looking forward to retirement and spending additional time with his family. Upon sale of the Business, he is willing to stay on for approximately one year to ensure a smooth transition for the new owner(s).
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Property Features and Assets:
The Company operates out of a 12,000 square foot facility in West Michigan. The building has 2,400 square feet of office space, 6,000 square feet of warehouse space, and 3,600 square feet of garage space. The facility was built in 1997 and is in good shape with recent improvements to the parking lot, windows, and overhead doors.
Market Competition and Expansion:
(1) Financial Strength: The Company achieved record financial performance in 2020. Despite 6 weeks of shutdown due to the COVID-19 pandemic, the Company delivered $4.2M+ in revenue and $920,000+ in SDE throughout 2020. The Company produced impressive top- and bottom-line performance by focusing on profitable projects and not being the lowest bidder. While being the lowest bidder can help win projects, it generally leads to lower profitability and corners being cut to stay within budget.
(2) The Ability to Cater to a Large Customer Base with Specific Needs: The Company boasts a competitive advantage over larger competitors by providing a more personal service to each customer. The Company creates custom solutions for each customer to get them exactly what they need without overselling them. The Company generally provides steel tanks rather than fiberglass tanks to better fit the needs of compartmentalization. When the fuel tanks separate fuel types into the grades, the steel tanks split up the grades at a custom level that is not possible with fiberglass tanks. This allows the Company to offer both creative and profitable solutions that are not matched by larger competitors.
(3) Highly Experienced Employees: Combined, the Company’s 11 employees include over 215 years of industry experience, an average of 19.5 years per employee. These employees include 2 service employees, 1 service/testing employee, 4 construction workers, 1 warehousing/dispatcher employee, 1 salesperson, 1 controller, and 1 office administrator. The Company’s employees are highly skilled and boast depth in industry knowledge and experience. Only 2 employees have worked at the Company for less than 5 years, and 7 employees have 20+ years of duty.
Reason for Selling:
The Owner is looking forward to retirement and spe
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.
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