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This IT business has 125 monthly recurring clients! In the business for over 30 years, this full-service IT company has consistent year-over-year sales of over $1M. The highly skilled and cross-trained team of employees offers a wide array of products and services to their loyal customer base. Emergency technology repairs, monthly maintenance, hosting services, new installations, consulting, data recovery, remote support, upgrades, and security support are among their long list of services, making them a “one-stop shop” in the IT industry. They also custom-design products such as firewalls and internet monitoring devices to assist in their clients’ ever-growing technology needs. There is $569,000 worth of assets in the purchase price, including computer equipment, office furniture and fixtures, and software. A 12.5% down payment of $150,000 returns $109,830 in the first year after debt payments!
The company works out of a 2,500 square-foot office space that includes offices, an open-plan work environment that allows for collaboration, a work room, bathrooms, and a breakroom. They currently have about 50 contract clients and 75 customers that call as needed.
Service is mainly concentrated in central Virginia, but there are out-of-state clients, with the potential to expand. Most work can be handled remotely and requires minimal travel to the office. Hiring sales staff and expanding the clientele base to restaurants or retail establishments would be an exponential growth opportunity.
Location: Richmond, Virginia
Service Area: Central Virginia, with capabilities to serve nationwide
Lease: 2,500 sq. foot office space that includes offices, open-plan work environment, work room, bathrooms, breakroom
Strategic Retirement Planning
Purchase Price: $1,200,000
12.5% Buyer Down Payment: $150,000
12.5% Seller Financing: $150,000
75% Bank Loan: $900,000
A 12.5% down payment of $150,000 returns $109,830 in the first year after debt payments!
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