When this business was opened in 2009, it experienced growth immediately. According to IBISWorld reports, the Metal Fabrication Industry is $4.4B industry. Fabricated structural metal products represent 29.6% of that industry. This business fabricates and welds metal structures that are used in the building industry. Until the last 2 years when the owner sustained injuries from auto accidents that prevent him from taking certain type projects, the business was growing steadily year over year. The demand and work is there as there are a limited number of businesses that can do this specialized metal work. The business is priced at essentially the value of the Furniture Fixtures & Equipment.
It is located in an industrial park. There is an office with two rooms, dedicated cutting bay, and two fabrication shops. There are 3 separate leased spaces with street level overhead doors. There is 2952 SF. The lease rate is $1.15/SF or $3395 /mo.
The Seattle area is a booming. There is much demand for this business and its custom services. The owner states the business can ramp up to previous revenues and beyond as it is limited only by how much work a new owner is willing to take on.
This business was established in 2009. IBISWorld reports that strong economic growth has caused the industry's capacity to expand. However, the effects of the COVID-19 (coronavirus) pandemic in 2020 are expected to offset the industry's economic growth on an annualized basis. Growing demand from the industry's downstream markets, including construction, aerospace and infrastructure industries, has supported demand for structural metal products over the past five years. IBISWorld expects industry revenue to grow at an annualized rate of 3.5% to $49.3 billion over the five years to 2025. An anticipated resurgence in demand from the construction and manufacturing markets is projected to drive this growth.
The owner has health considerations resulting in declining revenues and is seeking other business pursuits.
Will train for 2 weeks @ $0 cost. Washington state business license, knowledge of welding, metal work and fabrication is necessary.