Well Drilling, Parts, and Service

Not Disclosed, NC

Western North Carolina

Asking Price: Annual Revenue:
$478,500 $595,811

Services: Construction, Contractors

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RE: Well Drilling, Parts, and Service Broker: Jon Swift

Quick Facts

Asking Price: $478,500
Annual Revenue: $595,811
Net Profit: Not Disclosed
Cash Flow: $165,054
Total Debt: Not Disclosed
FF&E: $160,000
Real Estate: Not Disclosed
Year Established: 1938
Employees: 2
BBN Listing #: 96314955
Broker Reference #: 1210-16105

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Business Overview:

Fantastic Opportunity to acquire a very stable “be your own boss” business in the Charlotte Metro Region. After many years in the well maintenance & services business, the owner of this great company is ready to retire and pass along this growth opportunity to a new owner. This business has huge base of repetitive customers for service, repairs, and maintenance revenue and is considered a recession resistant industry. The company serves residential, commercial, agriculture and industrial customers in a high growth North Carolina region. The company has an affiliated drilling sub-contractor, so a new owner does not have to have well drilling experience. There are multiple service and product expansion opportunities for a new energetic self-starter. While the business is a great stand-alone business for an owner operator, it would be a great geographic and strategic bolt-on acquisition for an existing well drilling or plumbing contractor business. The seller is committed to work with a new owner for a smooth and seamless transition.

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Property Features and Assets:

The company is located in a rented facility with easy access to major highways and its customer base. The landlord is interested in selling the real estate to the buyer of the business, or continue to rent. The business is easily relocatable as most of the work is performed on-site at the customer's home or business location. Assets = $175,000

Market Competition and Expansion:

Given the long-term operation of the company, niche industry segment, and equipment requirements, the competition is limited and primarily comes from smaller providers in the market. Larger competitors outside of the local market have geographic constraints due to travel time and labor costs, inventory and other related operating costs to compete for repair and maintenance business. The company is scalable with the addition of more service technicians or positioning a satellite crew into other markets. The company enjoys a long term core customer base that has multiple opportunities to market new products by a new owner to expand the revenue and profits. Water is an essential need/service and as population continues to grow, reliance on clean and purified water systems will increase in demand. As more rural homeowners are seeking to own and control their own water sources, well drilling will continue to remain in demand. In addition, demand for irrigation systems for agriculture and other industry demands will continue to create growth opportunities. The seller feels that the growth area of water filtration and purification of existing municipal water sources entering a home or business is a great growth potential segment of the company that he has not pursued. The demand is growing to remove harmful chlorine and other treatment chemicals that are becoming a growing health concern to more families. The over the counter consumer systems are not as effective in removing chemicals, minerals, and impurities from public or well water as a professionally designed and maintained system. As older well systems need upgrading the demand for better and effective filters, pumps, and better water testing will continue to drive revenue to the company. Geothermal heating and cooling systems is a growth area that could be marketed as energy costs rise. A new owner could also pursue more local and state government contracts which is not currently being pursued. This is a solid business that is recession resistant and presents a rare opportunity for a new business owner working with a great seller to transition to being your own boss.

Reason for Selling:

Owner has elected to retire.

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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