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A highly successful commercial/institutional painting services company based in Southwestern, Ontario. Business has a stellar reputation for quality and value built up over 20 years of family ownership with an "A" list of commercial/institutional clientele covering a large territory in Ontario and top tier painting professionals committed to the organization's continued success.
Business operates out of a commercial 2,950 sq.ft. warehouse/office facility, privately owned by the business seller. Location to be leased to new buyer at market rates.
Current growth opportunity centers on the development of a staffing pipeline of quality tradespeople to meet continued industry growth while ensuring current quality levels are maintained. Current sales are 100% referral so opportunity exists to consider sales and marketing activities assuming staffing growth can be addressed. Growth opportunities include geographic growth outside of SW Ontario and GTA, increased penetration of commercial business given current focus on Institutional business.
Competition for large institutional work in the marketplace is quite low. Smaller players are unable to compete in this space given the turnaround times involved (e.g. one institution required 40 painters every year for 2 weeks because they would change usage of a few buildings from a student residence to a hotel for conferences). Unlike large industrial players, these customers are also not required to use union shops. Union shops have difficulty competing on these jobs as they do not compete well on price and turnaround times given less staff flexibility. In addition, existing clients remain loyal to existing providers – here they are an incumbent with a large existing client base which deliver over 90% of its annual revenue. Smaller jobs are much more competitive and many smaller players exist. These are not this company’s primary target – but are bid on if they have the available staff and job characteristics favor larger player (e.g. quick turnaround required with large number of painters). This company does not currently target work outside its market – but does do work for existing clients all over Ontario. These jobs are not bid on. Overall, the company utilizes its long standing reputation for quality and ability to meet tight client timelines through its staffing strategy and pricing/margin discipline to compete effectively in the marketplace.
Current owner is retiring.
Will train for 8 weeks @ no cost.
The company offers interior/exterior painting, plastering, caulking, airless spray painting, industrial coatings, wood staining, clear sealing and epoxy finishes.
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