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Booming Home Renovation Business For 1.6x SDE For Sale

New Haven County, Connecticut, US
Asking Price:
$400,000 Furniture / Fixtures included
Sales Revenue:
$1,449,344
Cash Flow:
$246,100

His high-end residential remodeling business captures the margins of a high-end kitchen dealer and a high-end contractor. Family owned for six decades, we have launched a confidential sale process to transition ownership. With virtually no advertising expense, the business operates with a sterling reputation in Fairfield, New Haven, and Litchfield Counties, which are among the wealthiest and most house-focused demographics in America.

Based on its reputation, repeat business, and referrals, business is booming. Between January 2024 and March 2024, the business booked over $2.1 million in new orders.

Property Information

Real Estate:

Lease

Premises Details:

The real estate is the jewel of this business's ability to generate long-term wealth: A modern, highly attractive, custom-built showroom and offices on a main, high-volume road, consisting of a 1,824 SF Commercial Building on 0.48 Acres (zoned C01) on the main N-S throughfare of a town located in Western New Haven County, but contiguous with both Fairfield and Litchfield Counties.

Buyer of the business ($400,000) has the option:

(1) Purchase the real estate (preferred by the Seller) for $750,000
(2) Lease the real estate for $48,000 NNN
(3) Relocate or consolidate the business into existing operations.

Both the business and the business and real estate have been pre-qualified for lender acquisition financing.

Business Operation

Expansion Potential:

Western Connecticut's high-end residential remodeling industry experienced a spike in revenues and activities during Covid as the area saw an increase in home purchases, values and renovations projects. The increase in interest rates has put a dampener on homes sales, but the home renovation section remains robust for upgrades for kitchens and bathrooms.

Competition / Market:

The high-end residential home remodeling business is highly fragmented.
This business competes on its reputation in the market and with its long-time, highly trained employees.

Reasons for selling:

Retirement.

Trading hours:

Monday-Friday 8am-5pm.

Employees:
7 FT
Years established:
63

Other Information

Support & training:

Will train for 4 weeks @ $0 cost.

Financing available:

Lender pre-screened with $40K down.

Furniture / Fixtures value:
$60,000 - included in the asking price
Relocatable:
This business can be relocated.