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Very Profitable Garage Door Company with Room to Grow! (37840)


Varneydoor

60+ year old business that is extremely profitable and can easily be expanded into neighboring counties and states! This business specializes in garage door distribution, installation, replacement, and preventative maintenance, for the Commercial / Industrial (50%), Residential (40%), & Repair Services (10%) market sectors. Company offers a variety of brand products, general hardware and electric access devices; from decorative, heavy-duty, overhead, or rolling steel, to different materials and styles of remote openers for door/windows. Additional products that can easily be added are dock shelters, bumper seals, gate operators, and crush seals. As part of the IDA and the NFIB, this business benefits from several manufacturer awards, thanks to great online ratings and decades of ongoing reputation providing year-long warranties on their labor. Also available for sale or a tenancy of $3,850 monthly, is the property, a prime 10,500 square foot facility situated over a 24,000-sq.ft. lot that features office space and production/warehouse area and is pre-zoned to handle extra capacity as location presents an opportunity to reach the tri-state areas of West Virginia, Ohio, Kentucky, in addition to the surrounding 50 mile radius! With no clients making up more than 3.6%, nor their Top Ten consumers composing merely 12.6% of annual income, company enjoys ideal flexibilities for strategic optimizations to continue growth in the coming years. Owner says company can easily become even more profitable with more aggressive advertising, better computer usage, as well as expansions and partnerships that can promise a higher position within the industry. Besides maintaining a website and active social media engagement, promotional efforts use print media and back up their word of mouth referrals from large and recurring customer bases though superior and quality services. Revenues for 2021 reached $2,196,911 alongside Discretionary Earnings of $525,888, while still projecting 2022 grosses of $2.2M! Based on an independent evaluation! Every year has seen an increase in revenue and the future is bright for a new owner! This is a really strong, great opportunity to take over a prospering business! Don’t wait!



Listed By: David Michaelson

Background information

Seller Number:

37840

Year established:

Founded in 1963; Acquired 1995.

Reason selling:

Approaching retirement and/or pursuing other interests.

Finance

Sales:

$2,196,911

Profits:

$525,888

Profit type:

Discretionary Earnings

Operations

Employees:

11 nonunion.

Equipment:

$330,000

Inventory:

$26,950

Premises

Facility:

Features current Receivables of $116,149!

Square footage:

10,500+/-

Rent and lease terms:

Holds a tenancy of $3,850 monthly. Property can be purchased as well.

Location:

Business can be Relocated!

Opportunities

Market:

Website, Socials, Print Media & Referral Sources.

Price and terms

Price:

$1,650,000

Financing:

Negotiable up to 20% for the right buyer.

Owner Transition:

Smooth acclimation of up to one month.