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A long history of quality work and an emphasis on maintaining customer relationships has set this paint and wallcovering contractor apart from the regional competition. Demand for its work is such that it reduces the need to rely on just bidding jobs against multiple competitors. Known for having top wallcovering installers and quality craftsmen, the Company frequently gets referrals from non-typical sources such as area decorators and wallcovering suppliers. The Company has a high level of sales to repeat customers and service contracted directly with building owners for commercial work. With high demand and experienced workers, the Company provides higher quality service at higher prices, leaving low-end projects to competitors. The current single owner, who is preparing to retire, is highly hands-on; a buyer who invests in additional sales and management personnel could take advantage of significant growth opportunities.
Grow Staff to Capitalize on Reputation and Demand – Increased staffing, including a dedicated sales person, would enable the Company to respond to additional bid invitations, reach out to past customers for additional work and expand its market beyond the immediate metropolitan area.
Potential to Diversify Product Lines – The Company is in an excellent position to leverage its strong reputation to expand into other markets such a floor coatings, decorative finishes, industrial coatings and high-end residential projects.
Highly Regarded Company – This Company has built a reputation for quality service and customer relationships that has generated significant repeat business, including customers who do not seek competitive bids. The Company has had some customers for more than 20 years.
Union Shop Solves Staffing Issues – The Company benefits from a pool of skilled labor at set contract rates that it can draw on to expand its workforce as needed for larger projects. The union also offers free training classes and an apprenticeship program.
Focus on Quality Projects – Strong relationships with commercial and institutional customers allows the Company to generally avoid low-bid general contractor projects in favor of higher quality, higher paying projects, including open-order, time-and-materials jobs with long-time customers.
2016 Revenue: $1,408,000
2016 SDE: $269,300
YTD 10/31/17 Revenue: $1,268,000
YTD 10/31/17 SDE: $392,000
Ready to retire
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