Over $500,000 in Sales with Carpet and Air Duct Service Focused on Restoration

1194

Franchised Cleaning and Restoration with a 60 Year History! With 80% residential, 10% commercial, and 10% flood/water damage restoration, this business offers a variety of cleaning services including carpet, air duct, wood floor, and drapery that appeals to the home and business owners seeking top-notch maintenance. This business is fully staffed with 1 FT Secretary/Scheduler, 1 PT Telemarketer, 5 Techs and all the equipment needed to ensure these lucrative services can still be offered by a new Owner. The custom website features the business location and services offered by the team. The current owner is only serving 2 of the 6 counties he owns, so there is plenty of room to expand.

The cash flow in 2015 equaled $63,168. The current owner completed nearly $70,000 of new upgrades in 2015. With $31,000 (10%) down, and after all expenses and debt is paid, the new owner will make $13,003 Net Operating Income in the first year.

Other Information
Reason for Selling: Retirement
Personnel: 1 FT Secretary/Scheduler, 1 PT Telemarketer, 5 Techs
Hours: Varies
History: Well Established Franchise for Over 60 Years ~ 12-year Current Ownership
Support to Buyer: 90 Day Transition Period
Additional Information: Service Breakdown: 80% residential, 10% commercial and 10% flood/water damage

Growth: Developing proprietary process to restore and clean granite and fine stone. Current owner only serving 2 of the 6 counties he owns

Owner Responsibilities: Office oversight, little to no labor

Financial Overview:

Gross Sales
2015: $522,436
2014: $516,954
2013: $460,800

Owner Profit/Cash Flow
2015: $63,168
2014: $150,351
2013: $100,870

Profit Margin: 12%

Multiple: 3.25 *Multiples range from 1-5, with the average being 3

Assets Included in Purchase:
Equipment and Vehicles: $126,972 (2014 tax values) includes 5 vans and all equipment needed
Upgrades: Nearly $70,000 was invested in 2015 for new and updated equipment
Inventory: ~$6,000
A/R: ~ $20,000-$25,000
Intangible Assets: Custom website with POS system

*amounts may vary

Funding Example:
Purchase Price: $310,000
10% Buyer Down Payment: $31,000
15% Seller Financing: $46,500
75% Bank Loan: $232,500

After all expenses and debts are paid, the new owner will receive a Net Operating Income (Profit) of $13,003.

Facilities:

Location and Service Area: Omaha metro area with a 6 county territory (3 in IA, 3 in NE)

Growth Potential:

Developing proprietary process to restore and clean granite and fine stone. Current owner only serving 2 of the 6 counties he owns

Training/Support:

90 Days

Seller Financing:

15% Seller Financing

Sale Reason:

Retirement