MergerPlace

Profitable & Growing Premier Custom Home

Northwest Michigan, Michigan


  • Asking Price: $2,100,000
  • Gross Income: $6,500,000
  • Cash Flow: $58,000
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: $131,000
  • Listing ID: #210606
  • Established: Not Disclosed
  • Employees: 22

Business Description

This builder is a premier custom luxury home building company that has a strong, established reputation for high integrity, customer service and quality. There are an over-whelming number of home building companies doing business in Michigan. Many of these companies appear for a few years only to quickly disappear when the economy gets weak and then reappear when home building begins to boom again, often under a different name. With a 30-year history, the owner has built a top trusted name in the building industry and has developed one of the most well-known brands for luxury custom home building and remodeling in Northern Michigan.

Some other key differentiators include:
• The company has prospered and continues to grow its already healthy footprint in the lucrative segment of custom home building focused on luxury lakefront living.
• Over $15 million in active work-in-process business, with $6.6 million remaining to be billed, with an additional $1.45 million contracted to start in 2019 and another $2.65 million in projects awaiting to be awarded.
• A culture that begins with listening to customers, operating with integrity and making the customer’s vision a shared vision.
• Exceptionally strong brand built within their focused geography and beyond.
• Besides a focus on building luxury homes, the company is a go-to resource for performing major remodeling projects and additional structures.
• Several identified growth opportunities for a new owner.
• The company more than survived the great recession, rather found a way to prosper and position themselves for the growth they have realized.


Business Details

Primary Business Category: Construction - Building, Developing
Location: Michigan
Metropolitan Area: Northwest Michigan

Company Information

Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 22

Financial Information

Asking Price: $2,100,000
Gross Revenue: $6,500,000
Cash Flow: $58,000
FF&E: $131,000
Seller Financing Available: Yes

Property Information

Facilities:

The office is leased in a small shared office building. The office includes: • 4 offices with windows and natural light that are fully equipped. • Large reception area. • Newly painted and carpeted. • Large conference room • New kitchen with eating area. • Ample storage space

Growth & expansion opportunities:

There is a solid to grow the business while increasing profit margins further and driving even greater dollars to the bottom line of this company. • Using the established reputation of the business, create a new division that handles property management and maintenance starting with the homes that they built or updated. • Hire a full-time sales person to grow the company.

Competition:

While the market has a large number of other builders, but few have tapped the high-end custom home market this company is known to service. Securing contracts has not been a concern since the turnaround in this industry in 2009.

Reason for selling:

Retirement

Support & Training:

Owner willing to provide necessary transition assistance.

Contact Business Seller

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Business Listed By:

Curtis Kuttnauer

Golden Circle Advisors, Inc.