* Included in Asking Price
This family-run custom glass installation and repair business will be celebrating its 50th year in operation in 2016. The business has had a steady performance and a strong client retention for many years due to the quality of services offered. The majority of services provided are for high-rise condominiums and commercial buildings with private residential clients representing around 20% of revenue. The business is staffed with a team of competent, highly trained and certified employees. The business has been located at the same facility for nearly 30 years. Please note, this is a hands-on opportunity and a purchaser must have a background and relevant experience in the glazing industry.
There are no liabilities or pending litigation against the business, there have also been no WSIB claims in all of its years in operation. Competitive pricing, commitment to safety and customer satisfaction are the major reason the company has loyal customers throughout the GTA, and referrals have been a major avenue for growth. With more emphasis on marketing activates, along with extending hours of operation, the business could further expand its current clientele.
While sales have been stable year-over-year, there is some seasonality during the year. Sales are higher during the spring, summer and fall months as warmer temperatures are required for many of the installations. There are currently 3 permanent installers on staff, and extra employees are hired as required during the busy months. Clients are loyal and reliable; many of them have been with the company for several years and always pay on time.
The business’ has a lease in place until January 31, 2018 and the owner has good working relations with the landlord. The owner is selling the business as he is looking to retire. The asking price of $290,000 includes around $50,000 in working capital as well as 2 vehicles worth approximately $48,000 and $10,000 in equipment.
Asking price: $290,000
Revenue (2015): $645,000
Seller’s Discretionary Earnings (2015): $185,000
Normalized EBITDA (2015): $135,000
FF&E (incl.): $60,000
|Training/Support:||Training and support will be provided by the Seller as required.|
|Sale Reason:||The Owner is selling the business as he is looking to retire.|
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