Serving the needs of the Hampton Roads, Virginia community since 1987, this customer-driven electric company specializes in the sales, installation and servicing of high quality generators for both home and commercial use as well as electrical contracting services.
One of the most valuable business assets is not found anywhere on the balance sheet ... the loyal, dedicated, well trained and customer oriented employees. The present team is small in number, but skilled and efficient and consistently delivers with minimal oversight. In times of crisis, they have proven to do whatever it takes to restore power to their customers in the shortest time possible. This response time combined with intimate knowledge of power systems and customer handling skills has differentiated this business from all of its local competitors.
This business has become well known and respected within the community -- and has consistently been recognized by its suppliers and manufacturer partners as one of the largest volume providers of home/business-based generation power equipment in the Middle Atlantic Region. By selling more, the business has built a very large and loyal customer base which not only breeds strong repeat and referral leads for new generator sales, but has built a significant customer book of after-sales service contracts. In fact, this business has well over 1,000+ customers on service contracts for bi-annual visits and warranty work. The business mix is 60% generators sales and service and 40% electrical contracting with both revenue sources complementing one another.
FINANCING AVAILABLE to qualified buyers! This business, Real Estate, and an initial working capital loan has been pre-qualified for up to a 90% SBA financing package. A loan term sheet is available following receipt of a signed disclosure agreement and financial statement/proof of down payment funds.
This business is situated in a light industrial park that is conveniently located to its customer base which supports reliable service by minimizing drive times to clients. The operation is housed in a 2-unit industrial condo unit (2,876 sq. ft.) which features two (2) large garage door access, conditioned office space with 2 restrooms, separate customer entrances, plentiful storage for equipment and generator inventory, 4 secured parking spots within a fenced area, and 6 customer parking spaces. The owner is offering to sell the building for $349,000, which is based on an annual net operating income at a 8% cap rate. There is very little light industrial inventory in this excellent location. Alternatively, the property can be leased for $3,000/month on a 5 year term with renewable options and/or future purchase option available. The tenant would be responsible for utilities, condo fees (which handle lighting, sewer, water, landscaping, trash collection, and exterior maintenance). Landlord would cover insurance, taxes, and interior maintenance expenses.
Growth potential options include: additional marketing of equipment and services into already established market areas, expansion of product lines to existing customers and geographic expansion into adjacent geographies.
This business services communities in the following areas: Gloucester, Hampton, Mathews, New Kent, Newport News, Norfolk, Poquoson, Providence Forge, Quinton, Smithfield, Suffolk, Surry, Virginia Beach, West Point, Williamsburg and Yorktown. This business represents one of the most popular and highly rated generator brands in the business.
The owner has decided to retire after over 3 decades in the business.
Will train for 4 weeks @ no cost. All business licenses and state electrical certifications are already in place and the operation is completely turn-key for the new owner. Products include the marketing and selling of a full line of high quality, brand name generators for every size capability and capacity -- entire building or partial building -- large, mid-size, or small. Services include the professional installation and servicing of the power equipment.