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This absentee to semi-absentee operated commercial plumbing company specializes in large scale new construction installation project. The company is priced to be extraordinarily attractive to help ensure a smooth transition and a timely sale. Job sites are disbursed around Los Angeles and Orange County as well as elsewhere in the state. The business has 20 staffers, including a licensed Responsible Managing Employee (RMO) who is anticipated to remain aboard, who have their own work vehicles that are outfitted as necessary.
While the company maintains an 1,800 square foot office / warehouse facility that leases for $1,350 per month, the location is not essential for the company’s continuity. All of the enterprise’s furniture, fixtures, equipment and goodwill will be included in the sale. Its Payables will be paid off and the Seller will retain their working capital in the sale. Its $400k - $500k in Accounts Receivable (plus retention) will not be included but may be purchased at cost.
New operators may take this opportunity in any number of directions. Although it is highly profitable as an absentee-operated venture, it could tremendously benefit from a full-time owner operator who wishes to expand the enterprise. New business certainly appears to exist as they obtain up to 10 bid invites daily and they have 30-40 bids out and typically a solid pipeline of future jobs. Though they thrive with their staff and capacity, they do not engage in any marketing and they do not aggressively quote or pursue bids. In fact, they just started on a $1.0 ml. job the buyer will walk-into!
While competition exists on various levels, this 20 plus year old enterprise has developed a fantastic recurring customer based that is comprised of both developers as well as direct end users. They manage to regularly land $140,000+ jobs that their seasoned staff complete - typically without issue. Their longevity with A-List clients and stellar track record provides an advantage in bids.
2 Weeks at 20 hrs/wk
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