MergerPlace

Refinishing of Bathtubs & Countertops

Washington (King)


  • Asking Price: $275,000
  • Gross Income: $449,416
  • Cash Flow: $126,741
  • Real Estate: Not Disclosed
  • Inventory: $2,000
  • FF&E: $22,500
  • Listing ID: #197511
  • Established: 1984
  • Employees: 4 FT

Business Description

Profitable Home based business providing professional refinishing of bathtubs, showers, surrounds, sinks, ceramic tile and kitchen counter-tops. Excellent book of business. Company focuses on large unit apartment, condo and hotel renovations. Company provides apartment complexes, condos, hotels and homes with a like-new bathtub unit or kitchen counter. It is an affordable way for property owners to renew kitchen and bathrooms without all the inconveniences and costs of conventional remodeling. Refinishing saves hundreds or even thousands of dollars over replacement. The refinishing process uses the latest in premium coating technology typically takes 4 hours to complete. It is ready to use in 12 hours with the look and durability very similar to brand new. The company has done over 42,000 bathtubs. Technicians are 100% commission.


Business Details

Primary Business Category: Contractors - Special Trade
Location: Washington
County: King

Company Information

Year Established: 1984
Home Based: Yes
Franchise: No
Relocatable: Yes
Number of Employees: 4 FT

Financial Information

Asking Price: $275,000
Gross Revenue: $449,416
Cash Flow: $126,741
FF&E: $22,500
Inventory: $2,000
Seller Financing Available: No

Property Information

Facilities:

Home based. There is no need for rent expense. It does not require a showroom or large warehouse. Supplies are ordered as needed with a minimal inventory kept on hand. Supplies are premium products from the leading manufacturer of refinishing products. Inventory and equipment are stored by the owner on storage shelves and/or in the technicians vehicles.

Growth & expansion opportunities:

Revenue is growing! In 2014 it was $350,000. In 2015 it was $425,000 and in 2016 $450,000. Several additional large projects are in the pipeline that the new owner will benefit from. If the new owner works full time they would focus on sales of large projects and scheduling.

Competition:

There is little competition for large projects which is the focus of the business. Existing property managers and owners are trying to keep their apartment, condo and hotel properties fresh. The bathtub refinishing is a great and inexpensive way to upgrade an aging property. There is competition for the individual homeowner but this is not where the money is to be made. The retail business at one bathtub at a time makes up less than 10% of the business.

Reason for selling:

This business has been around since 1984. This owner bought it in 2015 and works about 10 hours a week in the business. He is relocating out of state.

Support & Training:

Will train for 4 weeks @ no cost. Products and services include more than just bathtub refinishing. While that is the largest part of the product mix the Company is a one-stop shop for refinishing needs. Three long term employees who are 100% commissioned handle the installation. Save over $45,000 per year if new owner works full time. There is a general manager who does scheduling who could be replaced by a new owner. The new owner 's role is sales and management. You do not need industry experience. The current owner only works 10 hours a week to oversee the business. Contractor's license is required; new employees can be trained by existing employees over a two week period.

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Business Listed By:

Judy Elrod

Murphy Business Brokers