Profitable, Affordable West MI Locksmith Business

Not Disclosed, MI
Kent County

Kent County - West Michigan


Asking Price: Annual Revenue:
$250,000 $300,000

Services: Non-classifiable


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RE: Profitable, Affordable West MI Locksmith Business Broker: Ryan Johnson

Quick Facts

Asking Price: $250,000
Annual Revenue: $300,000
Net Profit: Not Disclosed
Cash Flow: $110,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: 2
BBN Listing #: 446931216
Broker Reference #: RJ1092821

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Business Overview:

We are pleased to offer an established, profitable, attractively priced locksmith business. The company, with two full-time employees, is located in a retail strip mall in a desirable area of Kent County in West Michigan.

The business deals with commercial, residential, and automotive customers, to name a few. With a retail storefront and 24/7 mobile lockout, this full-service locksmith has a lot to offer a prospective buyer. An A+ rating by the Better Business Bureau is complimented by 4.6 star rating and positive Google Reviews.

No trade experience is required to assume the ownership role in this business. The current owner, who needs to relocate out of state to address family matters, has set you up with a favorably priced, turnkey opportunity. Equipment, inventory, and an established lease are coupled with two experienced locksmiths on staff. And an excellent dedicated website comes with the business.

If you are the type of person who enjoys a good DIY project and has a mechanical aptitude, you have the option to grow the business and your own personal skills in learning locksmithing yourself. The current owner is by in large self-taught through online videos and classes.

Helping customers gain entry to their car, home, or business may be top of mind when one thinks about calling a locksmith. This business however, takes it an extra step with a variety of in-store services including:

-Lock Repair, Service, and Rekey
-Key Cutting and Duplication
-Automotive Key Repair and Replacement
-Programming of Your Car keys, Remotes and Fobs

Now let’s get to the numbers. Gross sales for the last three years have averaged $300,000. 2021 has been solid on a year-to-date basis with the business forecasted to surpass $300,000 in revenues. SDE (seller’s discretionary earnings = the normalized, historical cash flow available to pay an owner-operator and service debt) has been tracking the past 18 months at an impressive $110,000 annualized rate.

This bankable business is priced at $250,000 and to sweeten the pot, the current owner is offering a 10% seller note to match the buyer’s $25,000 down payment. A solid buyer should be able to obtain a $200,000 SBA bank loan to round out the $250,000 purchase price. The Buyer would assume a $1,200 per month triple net lease in a West Michigan strip mall. The goodwill of the business is augmented with staff, inventory, and a mobile service vehicle.

For more on this attractive business opportunity contact Ryan Johnson.

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:

Located in a retail strip mall in a desirable area of Kent County in West Michigan.

Reason for Selling:

Relocation

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.

Relevant Links:

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