Listing Number: 189597-420931
Description
This general contracting and home design center is a one-stop shop for home renovations. Located in the most affluent section of Monmouth County, the customer base is very loyal and many of them have worked with the company for decades. The company headquarters includes a design center showroom displaying kitchen, bath, and tile lines that they carry which makes it convenient for a homeowner to make their selections and design the project all at once. The design center is run by 2 experienced salespeople with very little involvement from the owner. The contracting side of the business is currently run by the owner who manages a staff of 12 employees who are in the field at the job sites. They have great long-term relationships with their subcontractors (electricians, plumbers, HVAC, etc.) which they have developed over the 20 years they are in business. Their focus is kitchens & bathrooms, but they do full gut renovations as well. The showroom sales are $700k annually and the renovations side of the business generates over $1.7M annually for a total revenue of over $2.4M. There is a $800k SBA loan in place with a 30 year term at a fixed 3.75% that will be assumed by the buyer at closing. Based on the current cash flow of 350k (after debt service) the new owner will make back their money in 18 months! Sale includes 3 trucks and all the inventory and displays in the showroom which are valued at over 150k. This is a great opportunity to get into the hot residential construction business for a small investment!
Listing Details
- Price: $500,000
- Down Payment: $500,000
- Sellers Discretionary Earnings: $400,000
- Total Sales: $2,400,000
- Location: Monmouth County, New Jersey
- Inventory: $0
- FF&E: $0
- Employees: 14
- Year Established: 2004
- Reason for Selling: Retirement
- Category: Construction
