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Asking Price$699,900
Revenue$1,257,167 Established1996
Cash Flow$199,646 Employees19 full, 5 part
FF&E$60,000* FranchiseNo
InventoryUndisclosed RelocatableNo
Real EstateUndisclosed Home-basedYes
* Included in Asking Price
UNDER AGREEMENT.  This business is a commercial cleaning company serving the Greater Littleton, NH and Northeast Kingdom, VT areas, specifically the communities of Littleton, Whitefield, Lisbon, Franconia, Woodsville, Bethlehem, St. Johnsbury, Lunenburg, and Newport.  The business was founded in 1996 by the current owner and is currently made up of two Sub-Chapter S Corporations, one registered in VT and the other in NH.  Both entities are being sold as one business.  This home-based business' price includes all tangible and intangible assets including furniture, fixtures, equipment, intellectual property, and goodwill.
The company provides weekly and daily cleaning services by fully uniformed, friendly, and professional technicians, and is fully insured.  Services include commercial, industrial, medical janitorial, carpet cleaning, floor polishing, and floor refinishing.  Customers include banks hospitals, medical offices, industrial buildings, and offices with no job being too big or too small.

This successful business not only survived but flourished during the COVID-19 realities of 2020.  Revenues were up 15% from 2019 to 2020.  There is every indication that business will continue to thrive in 2021 and beyond.  The seller is trying to develop a more aggressive marketing plan and better management of payroll costs to increase the already healthy bottom line, but with business so robust, he is not able to accomplish this as quickly as he would like.  As business has increased, the seller has been working on evaluating job to cost analyses in order to work smarter, not harder.  He is looking at low profitability customers as compared with high profitability customers to determine how to achieve higher profitability rather than concentrating on just maximizing revenues.  Thankfully, business is strong enough to allow him this type of analysis
The Commercial Cleaning/Janitorial Services industry is anticipated to continue growing in this business' market area as many industries are expected to outsource cleaning activities to janitorial and cleaning service specialists. In particular, education, healthcare, and medical related industries, which outsource the majority of their cleaning requirements, will provide sustained growth for the industry.  An aging US population and greater demand for healthcare services will bolster demand for cleaning services for medical and surgical hospitals, urgent care clinics, diagnostic labs, and research facilities.  As a result of these improving conditions, industry revenue is forecast to increase at an annualized rate of 1.1% over the next five years.
Competition:The seller believes that his business has the strongest market share in its market area. Their main competitor has actually been feeding this business a lot of referral business over the last year or so as they are moving away from the janitorial side of their business. There is talk of another cleaning company coming into the area, but their focus is more on residential cleaning with some commercial applications for floor and carpet cleaning.
Growth Potential:The current owner believes that internally, better managing payroll and drivetimes for employees by being more flexible with cleaning routes when necessary will dramatically cut expenses. Revenues will be positively impacted by expanding their carpet cleaning service to residential accounts as well as offering more disinfecting services to both commercial and residential customers. The company has never done anything more than word of mouth marketing, so this is an area that can be greatly improved. There is a web and social media presence which is basic and could benefit from someone with more technical experience overseeing all web-based activities. From a direct sales perspective, the owner believes that “door to door” promotional and introductory sales efforts will also positively bolster the bottom line.
Training/Support:Seller is willing to train a new buyer for two weeks after the transfer of the business at no charge. Should the buyer request additional support, the seller would be willing to have that discussion and negotiation.
Sale Reason:The seller has been operating this business for almost 25 years and is ready to semi-retire.
Ad #125961
Seller Reference #NEWHAMP001-N44
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Contact This Seller
Jay Polimeno
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