Basement Drainage Contractor Company - Profitable For Sale

Business description

This is a profitable basement drainage contractor company that has been established since 1973. This business fixes leaks and provides drainage for residential basements, crawl spaces, and exterior yards. Around 80 to 85% of the work involves basement drainage, and it does not do any new construction. This company has a lot more experience in basement drainage compared to its competitors, and hires highly trained employees that have been with the company for many years. Being centrally located in the Puget Sound area, it has less travel time compared to its competitors. This company serves as far south as Federal Way, as far north as Everett, and as far east as North Bend. The owner does not do any labor work; his job duty is giving estimates. It is not unusual for the estimate appointments to be completely booked almost 2 months ahead. Business stays fairly busy year round, and it does over 400 jobs per year. This company keeps excellent books, and its pricing strategy is somewhere in the middle compared to its competitors. It is not a franchise, as many franchises in the basement drainage industry have not lasted. Many franchise operations are based in the East Coast, and they do not understand the unique soil structure in the Puget Sound region, thus have been less successful at solving drainage problems. This company is so experienced in solving drainage issues that it offers a guarantee on its work for the life of the building, even after it has been sold to a new owner. There are certain qualifiers and conditions in this guarantee, and the current owner purchased the business 10 years ago. The reality is that warranty issues hardly ever comes up, and this guarantee brings in a lot of business. The current owner is looking to retire, and he is willing to train the new owner. This is a rare opportunity for a new owner to purchase an established, profitable business and take it to new heights.

Property information

Real Estate:

Lease

Location:

This is a relocatable business. The current location is on a month-to-month lease with a rent payment of $2,800/month, and a premise that consists of 2 houses and 2 lots that are 900 square feet each. No customer visits are conducted on the premise. The main purpose of leasing this premise is to deposit debris. A trucking company hauls away the debris once a quarter. Business hours are 8-5 Mondays through Fridays.

Other information

Expansion potential:

The company has a web site and but it is not well developed. The new owner can expand the business by doing more Internet advertising, and perhaps branch out into other remodeling work. During a remodeling project, the waterproofing contractor is often the first person on-site speaking with the owners. It is not unusual for the owners to ask the waterproofing contractor for recommendations on other contractors needed for the remodeling project. This business can be grown by an increased focus on marketing, sales, and possibly offering more services.

Competition / Market:

What sets this company apart is its experience. This company has been quoted in the Seattle Post-Intelligencer, and its does over 400 jobs per year. There are massive referrals, and appointments are booked weeks and months in advance.

Support & training:

Seller is willing to train; the length is negotiable.

Reasons for selling:

Retirement

Financing available:

Broker can assist buyer in obtaining financing.

Furniture / Fixtures value:

$30,000

Inventory / Stock value:

$12,000

Contact the seller