Electrical Contractor Company with Real Estate – Profitable! For Sale

Business description

This is a profitable electrical contracting business in the Eastside that has been established for 21 years. Fully licensed and bonded, this company specializes in commercial and industrial work, including retail centers, office buildings, educational facilities, warehouses, complex conveyors, and manufacturing facilities. Approximately 75% of its customers come from the public sector such as Washington State and the school districts, while 25% of its customers come from the private sector. The owner does not do much advertising other than the basic phone book. Most of the business comes from word-of-mouth, and there are approximately 10 general contractors that refer clients to this company on a regular basis. The owner does not do sales, and only oversees the existing projects. This company has 1 superintendent / estimator making $120,000 a year, 10 electricians making on average $85,000 a year, and 1 part-time office receptionist making $10,500 a year. There are 2 electricians are signed up for the foreman’s class, and 2 electricians are in the apprenticeship. The asking price of $750,000 includes the business only. The owner of the business also owns the property, and would be willing to sell the property for another $850,000. The property is a commercial office / warehouse in the Eastside. Having owned this profitable business for 21 years, the owner is looking to retire. A new owner can take over the operations and enjoy a handsome cash flow.

Property information

Real Estate:

Real Property Included

Location:

The company had been located on the Eastside for 22 years, and moved to its present location in the Eastside as of July 2007. Commercial office / warehouse is 2,720 square feet, and the owner pays himself a market rent of $5,500 / month. The office is open from 7-5 Mondays through Fridays, while the electricians work from 7-3:30 Mondays through Fridays. Parking capacity: 9. There are also 1 truck, 1 trailer, and 3 vans included in the sale.

Other information

Expansion potential:

The keys to growing this business are more aggressive marketing, and keeping the solid electricians by helping them grow in their knowledge and experience. As the current owner retires, a new owner who puts in more energy and drive can take this business to new heights.

Competition / Market:

The strength in the revenues and cash flow is evidence for the quality of work and the reputation this company has built up over 21 years. It has quality employees, and the great work they perform has generated a constant stream of referrals.

Support & training:

Negotiable.

Reasons for selling:

Owner is retiring.

Financing available:

Broker can assist buyer in obtaining financing.

Furniture / Fixtures value:

$30,000 (included in the asking price)

Inventory / Stock value:

$20,000