Business Highlights: After over 20 years of business, the seller is ready to retire. The business has had consistent sales in the $600-$800,000 range, consisting of a nice mix of commercial apartments and high-end residential homes. The owner keeps a steady mix of major painting projects that are over $25,000, as well as numerous small fill-in jobs to keep his crews busy. The owner is selectively managing the company from a lifestyle perspective. Additional work is available – the owner, at his age, is not interested in hiring more crews to grow the business.
In planning for retirement, the owner has transitioned several steady commercial clients (apartments) to his foreman to manage. The business currently has two crews in the field and has about 12 employees. The owner is functioning as the general manager/sales manager, and estimator.
Equipment: Included in the sale are two vehicles. Ladders and customary equipment with an estimated value of approximately $150,000.
Backlog: The current and average backlog consists of approximately $250,000 worth of work, about 12 weeks.
Inventory: $150,000(Included in Price)
Reason For Sale: Retirement
Training & Support: The owner is willing to stay and transition the business for up to a year at a fair salary.
Square Footage: 600
Facilities Information: Owner rents a small 600 sq ft. Industrial space to store equipment and materials.
Potential Growth:
New owner could easily expand the business by Advertising, hiring additional crews, accepting new referral clients and expanding the geographic area served.
