Absentee owner - Commercial Cabinet Maker/contractor and some residential in Tampa & Orlando market. High margins and some large contracts. Next owner can build on the company's strong reputation with both large & small General Contractors by marketing to more GC's. Seller willing hold a note for strong financial buyers, & also stay involved as consultant for up to a year for smooth transition. Strong staff & managers of many years love & need their jobs. Continue to grow or simply maintain. Reputation level causes business to basically seek them out. Add-back of key manager's income assumes an owner/operator working full time would bring in that additional income plus.
Located in a work building/warehouse with front office.
To grow this company to the next level, don't be an absentee owner like the seller. Increase your weekly work hours from his current 5 to around 50 per week. Expand the building size and employees. Hire a salesman who knows how to do this and let them work the two big cities of Tampa & Orlando. Start advertising and get a web site. Also, developing a strong internet presence to showcase the company's first-class cabinets and kitchen designs should bring in even more sales to existing homeowners.
Custom Cabinets pick up a lot of large contracts in Orlando & Tampa area, such as hospitals, schools, business buildings, etc. They also pick up larger contracts that much larger competitors mess up and finish them on time and on budget. Their 8 full time employees are often able to out-perform much larger competitors with expensive machines which are known to break down at key times during jobs. They seem to hold their own with competitors who do large national jobs and have over 100 employees, believer it or not. They have often been known to fix others mistakes, and take over other's jobs in the middle, because the job was not getting done on time or under budget, and save the project for the General Contractor. Their better reputation to do what they say they are going to do and on time when they say they will do it, is key.
Will train for 2 weeks @ no cost. Basic carpentry and cabinet skills helpful. People skills & growing business relationships with large contractors is key.