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Company is a 51-year-old well-established, home-based, quick turnaround fabricator and installer of seamless gutters serving residential customers primarily in Fort Worth and surrounding areas. Generally, the owner targets no more than a 30 minute drive from the current location covering East of Irving, South of Denton/Decatur, West of Weatherford and North of Burleson/Mansfield/Alvarado. The owner is 77 years old and began ramping sales down in 2017. This is an excellent opportunity for an aggressive new owner to double, triple or quadruple the size of the business.
Rain gutters and downspouts protect buildings, foundations and landscaping from water damage. Seamless aluminum gutters make up the vast majority of the market. The company primarily installs 5” and 6” aluminum K-style gutters. (5” K-style gutters are the typical standard gutter found on a home; 6” are usually installed on larger roofs.) The company also installs leaf guards as well as repairing facia boards during installation. Services include repair and maintenance of existing gutter systems, too. The company is a high margin, profitable business with strong growth potential.
The founder started the business in 1970 as a home-based business. As the business grew, the owner expanded into the current shop at his home. The owner works approximately 15 hours per week. The owner feels that a hard-working buyer, dedicated to the company, can easily replace the current owner. He feels that a major advantage over competitors is the seniority of the employees. The 2 workers are highly skilled & experienced, average approximately 16 years seniority and are paid via 1099 reported wages. The crew is professional and a major asset to the company.
The seller has used quality and reliable installation, customer service, word of mouth and repeat/referral customers to build the business. The company receives repeat business and referrals from an estimated 20,000+ installed base of customers. Additionally, leads are generated from the company website. Customers are happy with the service and committed to using the company. The owner feels that the business could grow faster by adding a salesperson calling on builders and contractors. Warranty service calls are rare due to their industry-superior installation methods and, in fact, the company has had many repeat and referral customers for 25+ years. A new, energetic owner can further increase sales & profits in many ways.
The owner estimates that sales are approximately ~95% seamless gutters and ~5% leaf guards. The average job takes approximately 4-5 hours to install. The owner states that the customer base is 100% retail residential and is diversified with no customer concentration. The seller estimates that jobs are ROUGHLY located in ~90% Tarrant County and ~10% all other counties. The 77-year old seller began to prepare for retirement and began slowing sales in 2017.
The owner states that the company is well positioned to grow and prosper due to many favorable conditions including a highly skilled and long tenured work force, a stable history and favorable reputation, tremendous growth in the construction industry and repeat/referral business from an existing customer base of approximately 20,000+ homeowners.
Purchase Price: The asking price for the assets of the business is $200,000 ALL CASH, or $250,000 with $80,000 down and $170,000 seller financing to a qualified buyer for 5 years at 6% (monthly payments of approximately $3,479.90/mo). All financing is to be personally guaranteed. Seller prefers to sell for ALL-CASH. The assets include inventory at cost of $20,000, Accounts Receivables valued at $00 and FFEV (Furniture, Fixtures, Equipment and Vehicles) valued at $45,000. The price will be adjusted for actual inventory, work in process (WIP) and accounts receivables as of the sale date.
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The seller operates the business from their residence and is willing to lease the business building for up to 3 months for $1,000/month while the new owner relocates to a new location. The tenant must be approved and qualified by the seller and will be subject to a mutually agreed lease with specified operating hours. The seller feels that the business can be operated from the buyer’s home or from a leased industrial approx. 800-1,000 SF space with secure parking for 2 trucks and 2 trailers.
The seller has used quality and reliable installation, customer service, word of mouth and repeat/referral customers to build the business. The company receives repeat business and referrals from an estimated 20,000+ installed base of customers. Additionally, leads are generated from the company website.
A new, energetic owner can further increase sales & profits in many ways: 1) Full-time owner operation, 2) Follow-up on all current phone call leads, 3) Add signage to the trucks and trailer, 4) Call on roofers, builders and renovation contractors. Seller feels that many can be acquired if pursued, 5) Add an additional crew, 6) Use lawn signs on installations for drive-by traffic and neighbor referrals, 7) Consider adding a new crew to prepare for continued growth, 8) Consider adding complementary products such as underground drain systems, painting, windows, window screens, solar screens, shutters, vinyl siding, soffit, garage door repairs, Christmas light installation, 9) Offer gutter maintenance & clean out service
The business attracts customers from the Dallas Fort Worth Metroplex and surrounding areas (but focuses on Fort Worth and surrounding area). The owner feels that the industry is very competitive. Most companies have 1 to 2 crews (2 to 6 employees). Despite the presence of competitors, the business has continued to thrive and can further grow with marketing and adding installation crews.
Seller will train buyer for 4 weeks included with the purchase price. Seller is willing to provide additional training or support at mutually agreed compensation for up to 3 months.
Price $200,000 ALL-CASH or $250k with $80K down & $170k seller-financing
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