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Asking Price$2,500,000
Revenue$2,070,000 Established2013
Cash FlowUndisclosed Employees8 full, 2 part
FF&E$906,350* FranchiseNo
Inventory$300,000* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Granite fabrication and installation with coast to coast sales since 2013. Current owner has nearly four decades of experience in granite and solid surfaces construction. While most industries and companies were devastated by the impact of the coronavirus including major players in the granite fabrication industry, this company actually grew in sales and further solidified their position as a go-to family owned company dedicated to providing materials, craftsmanship, and service which meet the highest quality standards. While other granite fabrication businesses who depended on the big chain stores such as Home Depot and Lowe's for customers were paralyzed by the coronavirus, this St. Louis based company thrived due to their focus on commercial projects. Commercial booked business has actually increased as projects have been expedited to the low cost of capital and the continued strong home construction and remodeling trends. The current owner has done very little advertising as he operated on a handshake, quality products and excellent customer service. The new owner will purchase a business that is capable of expanding as quickly as the new owner aggressively wants including introducing new and exciting products into the revenue stream and building upon an extremely solid and loyal customer base.
Competition:The granite fabrication industry is very competitive. The current owner feels that there are good competitors servicing the community, but strongly feels that his company has built-in superior advantages versus the competition. The current owner does very little advertising as his complete focus is on customer relationships. The current business is successful, profitable and poised for explosive growth.
Growth Potential:The current owner feels that the granite fabrication industry is primed for continued growth due to the following: The economy is solid despite the negative impact of the coronavirus. Customers feel that the economy will make a strong recovery during the third and fourth quarters of 2020 and absolutely explode in 2021. $5,900,000 in guaranteed business is already booked over the next 24 months. The business will enable the new owner a huge head start in growing future revenues to over $5,000,000 annually which is a conservative estimate. The historically low current interest rates and high accessibility to capital will ensure home construction and existing home remodeling projects continue and even accelerate. The current owner strongly feels that a new aggressive owner willing to invest capital into sustaining current positive growth trends in granite fabrication can further accelerate revenues by developing several complimentary areas of Revenue Diversification. Current owner's open-ended warehouse lease, excellent warehouse conditions, excellent maintenance of current equipment and loyal, experienced employees will enable the new owner is achieve immediate success. The current owner is willing to assist in every way possible to ensure the new owner's success including lending the new owner up to $400,000 at 4% for 10 years towards the purchase of the business.
Training/Support:A new buyer must be first approved to have a net worth of at least $750,000. The new buyer does not need to be an expert in the granite fabrication industry. Once vetted and approved, the prospective owner will undergo the following: Introduction to current owner for onsite tour and final negotiations of purchase price. Introduction to each employee and onsite hands-on training of each person's job duties. Current owner is willing at no charge to remain onsite for six months on a daily basis or as needed to personally train and coach the new owner with every aspect of day to day business duties. After the initial si months of daily hands on training, the current owner agrees to consulting by phone or email for up to five years at no charge. Current owner, after the initial six months, is also willing, if requested, to consult onsite on an as requested basis at a consulting fee of $40/hour. As an additional show of commitment to the new owner's success, the current owner is willing to stay on as a sales representative at a 3.5% commission rate to further ensure the new owner's sales goals and growth targets are achieved.
Sale Reason:The current owner is getting older and has health issues. He is unable to sustain the current
Ad #119530
Seller Reference #STLOUMO002-N6
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Michael Gianino
(314) 412-6098
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