Established, growing residential remodeling and renovation company with over a 10-year track record! Recently added relationship with big box home improvement store will add significant opportunity. Enjoy a well-developed local reputation coupled with the national brand name recognition and support provided by one of the premier franchisors in the industry. Attractive territory located in the Triangle (one of the best metro areas in the country), with room for continued growth! Strong brand name and market presence, proven sales and marketing programs, experienced managers, sales team, and crew make this a turnkey acquisition with clean financials. Currently semi-absentee owned, the buyer could continue to operate it semi-absentee or become a full-time owner-operator. YTD through March up 16% over 2020 (before COVID hit).
Under the CARES Act as revised by the Stimulus Act, if you use an SBA 7(a) guaranteed loan, this company qualifies for 3-months of principal and interest paid by the SBA to the lender on your behalf (up to $9,000 per month). The loan payments paid by the SBA are not taxable. The SBA is also waiving its loan guarantee fee (usually 3.75% of the guaranteed amount for a loan of this size). The SBA guaranteed loan must be approved by the SBA before 9/30/2021, or earlier if funds run out.
The Company leases a 1,280 showroom in a desirable location, and a 6,600 square foot warehouse/office space near the interstate.
Significant opportunity for continued growth through new relationship with a national home improvement chain along with continued expansion existing market.
Industry: According to IBIS World, over the five years to 2025, industry growth is expected to be driven by a continued rise in per capita disposable income. Additionally, housing prices are expected to continue rising, bolstering demand for industry services as homeowners often leverage the value of their homes through loans to fund remodeling projects. Due to the spread of coronavirus, the Federal Bank lowered the interest rates to prevent any further shocks to the market and help stabilize it. As a result of decline in interest rate growth, housing starts are anticipated to increase at an annualized rate of 3.7% over the five years to 2025. Industry revenue is forecast to climb at an annualized rate of 1.0% to $106.2 billion during the outlook period.
One of the partners wants to retire.
Will train for 4 weeks @ $0 cost. Owner’s role can be flexible and focus on the area(s) that they want to depending on their strengths and desires, continuing to operate the Company semi-absentee or as a full-time owner-operator: sales/marketing, design, administration, project management, operations/logistics, etc. Buyer will need an NC General Contractors license or hire someone that has one to be the qualifier.