Property Asking Price: $1,550,000. Business Asking Price: $1,100,000 plus inventory. Each incorporated under a separate entity however both the BUSINESS AND PROPERTY MUST BE SOLD TOGETHER (Share Sale for each)
This is a wonderful opportunity to acquire a longstanding family-run business established in the 1980's and well known for its amazing reputation in providing customers with sales, service and installation of custom doors, windows, screens, railings and related hardware.
There are five (5) Employees plus two (2) Owners. One Owner acts as the General Manager and the second Owner takes care of bookkeeping and payroll.
The business operates out of a 5,934 sq. ft. industrial building (I-3 Zoning) on a 10,915 sq. ft. lot. The property also has a two bedroom suite on the second level rented out for $1,100 per month.
Reason for sale - The owners have decided to start working towards their semi-retirement. Plenty of training will be provided for a smooth transition. The Owner would like to stay on as a General Manager for 2-3 years post closing.
Approx. $115k in assets including a delivery truck.
There is approximately $200,000 to $300,000 worth of inventory (at cost) to be paid for in addition to the asking price.
Not much working capital (except payroll) is required as there is approx. $50k in customer deposits and $100k-$200k in existing orders the Buyer will take-over.
Seller is open to some VTB and the deal fits well for lending with approx. $200,000 - $250,000 cash down for both the business and property for a qualified Buyer.
Approximate Business Sales & EBITDA:
2024 Sales: $2.9 million; EBITDA: $350k
2023 Sales: $3 million EBITDA: $323k
2022 Sales: $3 million EBITDA: $442k
2021 Sales: $2.5 million. EBITDA: $306k
2020 Sales: $2.4 million. EBITDA: $223k
2019 Sales: $2.3 million
2018 Sales: $2.2 million
2017 Sales: $2m.
Approx. Net Operating Income for Property:
2024: $63k
2023: $63k
2022: $69k
2021: $56k
2020: $68k
An NDA is to be signed prior to the release of any further confidential business information.
