Company is a well-established locksmith selling & servicing access control, grand master systems, cameras, door closers, vehicle remotes, and safes to businesses, large corporations, mega-churches, and homeowners primarily in the Dallas-Fort Worth, Texas area, but also across Texas. Services range from a simple key duplicate to drilling safes to massive access control jobs in 20-story buildings and can be provided at the shop or mobile.
Customers are primarily repeats and referrals. There is a lot of room for growth with proper advertising, networking, and adding technology to take on larger volumes. The seller estimates that sales are approximately 55% parts, 25% labor, 10% access controls, 8% shop, and 2% safes. The seller further estimates that they have an established customer base of over 20,000 active customers. The top 10 clients are estimated to total 20% of sales, with the largest customer representing approximately 6.2%. Walk-in sales account for approximately 20.7% of sales and represent 100’s of customers. The business has an excellent trade customer resource program
NOTE: Seller REQUIRES that Prospective Purchasers have locksmith and access control industry experience and current licensing (or ability to be licensed).
The owner primarily oversees the business and finances. The company's well-trained and long-tenured employees hold all necessary licenses and perform all day-to-day operations. An outside accountant handles payroll, financial reporting and taxes. Business has an exceptionally long track record of higher profitability. While the owner has excellent industry knowledge, they readily admit that, as they near retirement, they lack the initiative and motivation to profitably grow the business in recent years. The owner represents that the business has excellent books & records and can prove all sales & expenses.
The owner takes regular vacations and relies on trusted, trained employees to operate the business while they are away.
The owner feels that there are many growth opportunities for an aggressive new owner. The business has a strong, central Dallas-Fort Worth location, skilled staff, a good reputation, and a state-of-the-art facility. The business operates primarily as a word-of-mouth “niche business.”. The owner estimates that the business is only running at ~30% capacity. Capacity can be significantly increased by adding technology and service vehicles, improving schedule efficiency, and pursuing existing sales opportunities.
Purchase Price: Asking price for assets of the business is $1,000,000 with $200,000 CASH down payment and balance financed as a commercial or SBA7(a) loan. If required by a commercial lender, seller will consider financing up to 10% of the price to a purchaser qualified/approved by Seller. All financing is to be personally guaranteed by the individual principals of a prospective purchaser. THE SELLER PREFERS TO SELL FOR ALL CASH. The assets include accounts receivable valued at $85,000, inventory at a cost of $100,000, and FFEV valued at $85,000. The price will be increased or decreased for the total value of actual accounts receivable and inventory as of the sale date.
NOTE: THE SALE OF A BUSINESS IS CONFIDENTIAL AND DISCREET; PLEASE DO NOT VISIT THE BUSINESS OR SPEAK WITH ANY EMPLOYEES OR OWNERS.
ALL STATEMENTS, FIGURES, AND VALUES ARE SUBJECT TO A PROSPECTIVE PURCHASER’S DUE DILIGENCE. THE INFORMATION FURNISHED BY M&A ADVISOR ABOUT THE BUSINESS AND ITS FINANCIALS HAS BEEN PREPARED BY OR IS BASED UPON REPRESENTATIONS AND INFORMATION SUPPLIED BY THE SELLER. ADVISOR HAS MADE NO INDEPENDENT INVESTIGATION OR VERIFICATION OF SAID INFORMATION.
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