MergerPlace

Successful Disaster Restoration

Virginia


  • Asking Price: $449,000
  • Gross Income: $1,080,732
  • Cash Flow: $203,732
  • Real Estate: Not Disclosed
  • Inventory: $10,000
  • FF&E: $98,000
  • Listing ID: #215328
  • Established: 1993
  • Employees: 9 FT/ 0 PT

Business Description

This established, profitable and highly specialized franchise business focuses on bringing cabinets and wood furniture back to life after the adverse impacts of fire and water damage.
Leveraging a family history of woodworking and originally coming from the home construction industry, the seller launched this business in 1993 and has enjoyed many years of growth and profitability. By partnering with a highly-respected nationally known furniture restoration brand, the success formula is established and ingrained:

1) An intense dedication to quality and customer satisfaction
2) A well-trained team of professional woodworking craftsman
3) Extraordinary attention to detail that goes beyond the competition
4) A healthy network of insurance company/mitigation company partnerships

You will not need to be an expert woodworker to own this turn-key business because the equipment and inventory is already in place, the employees are trained, dedicated and motivated, the building is out-fitted and located conveniently to the customer base and the insurance relationships are long, tested and loyal.
This business is firmly established, profitable and has upside growth potential especially when considering an excellent brand image and low competitive presence in this geography. This business has also been pre-qualified by a lender and a loan term sheet is included with the marketing materials.


Business Details

Primary Business Category: Contractors - Special Trade
Location: Virginia

Company Information

Year Established: 1993
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 9 FT/ 0 PT

Financial Information

Asking Price: $449,000
Gross Revenue: $1,080,732
Cash Flow: $203,732
FF&E: $98,000
Inventory: $10,000
Seller Financing Available: Yes

Property Information

Facilities:

The operation is housed in a light industrial condo unit (2,835 sq. ft.) and features a large access garage door, conditioned office space, restroom, separate customer entrance, wood workshop, staining & painting room, equipment and inventory storage and parking spots for employees/customers. The owner is offering the building for $349,000, which is based on a recent comparable sale in the same condo unit. There is very little light industrial inventory in this excellent location which makes this real estate very desirable. 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 and condo fees (which handle lighting, sewer, water, landscaping, trash collection, insurance and taxes). Landlord would cover any interior or exterior maintenance expenses.

Growth & expansion opportunities:

The business model has evolved over the years and now is centered on two of the more profitable sub-segments in the industry: 1) Water/Fire Disaster Restoration and 2) Personal Furniture Repair. The exciting part of this offer are the other growth options that are available to pursue, including Commercial (Hotels/Restaurant Furniture Repair), Office Buildings, Retirement Homes and Colleges.

Competition:

This specialized disaster restoration business is not heavily populated in this geography due to the specialized nature of the work, the well-know quality reputation of the offered business and the strong, established working relationships already in place with insurance companies and disaster mitigation businesses. The kitchen cabinet competition comes from companies engaged in offering discretionary re-modeling projects and/or cosmetic cabinet re-facing which is not the target customer base or service offering from this company. This business has become the cabinet/furniture disaster restoration market leader in the area over the last 2 decades.

Reason for selling:

Owner is retiring from the business after 26 years.

Support & Training:

Will train for 4 weeks @ no cost. A "Class C Contractor License" from the State of Virginia is required as well as successful completion of the candidate application process by the franchisor. This includes reviewing and signing the Franchise Disclosure Document (FDD) and adhering to initial/ongoing training requirements, background checks and all policies and procedures. Services provided by this business include: Furniture structural repair and stabilization Furniture refinishing and polishing Millwork, paneling, door and banister repair Cabinet repair and refacing Cabinet restoration and structural repair Fire and water damage restoration and repair Touch-up nicks, scratches color changes and gouges Hardware replacement Replacement of all damaged cabinets -- both stock and custom cabinets Installment of sinks, stoves, dishwashers Insurance claim validation

Contact Business Seller

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Business Listed By:

Hal Feder

Murphy Business Brokers