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26 Year Old Garage Door Company in Mesa County in Western Colorado, Custom Building, Great Location

ConstructionFor Sale in CO

Listing ID: 34205 | Broker Listing ID: BLP360784

Financial & Assets Details

$2,100,000
$654,000
$150,000
$56,000
$1,100,000
5400+/-

About the Business

1998
7
Yes

Business Description

2023 had revenues of 2.1M with 654K in earnings. 2022 had 2M in revenues and 471K in earnings. The sales price is only 1.54M plus inventory which is Only 2.4 times their 2023 earnings. The company has had steady growth in both Revenues and Earnings and expects that to continue for many reasons.

The company does 70% residential and 30% commercial garage door sales and installation. They can do all types of garage doors and have been increasing the amount of recurring revenue including various property management companies, various hotels, along with many other companies. They typically do high end garage doors including custom wood and metal overlay doors.

There are 2 owners who both work full time and will help in transition. There are 7 employees and a 1099 part time independent contractor bookkeeper. The owners will sign a non-compete. The other employees are garage techs with a lot of experience who they believe will stay post-closing. The owners believe that they can teach all aspects of this business to the new owner.

The business has approximately 150K in current value assets including 3 wrapped pickup trucks, 2 trailers, a scissor lift, all terrain forklift, and a lot of small tools and equipment. They also have mostly brand-new office equipment and furniture along with supplies. They originally thought they had 10K +/- in inventory cost when I shot the video but have taken a closer look and it is 56K. This is inventory that is “good” and will end up used at a customer’s job.

Growth Potential: This is the best part. Business comes to them already through referrals and recurring revenues. They already have a great website and only spend 7K or less a year on advertising which is less than ½ of 1% of their revenues which is very low. They also turn down work because they decided not to buy another van/pickup and hire another 2 garage door techs since they knew that they were going to sell. They turn down all new customer work over 30 miles away because they don’t have the capacity to do it with how busy they are closer to town. The cost to do jobs that are over 15 miles away is built into the bid and “passed through” so it is still very profitable work. Adding another 2 employees and a properly outfitted truck will add up to 25% additional income and profits. The sellers believe that there are many ways to grow this company including hiring a salesperson to find and develop more relationships with referral partners such as property management companies, insurance agents, Realtors, etc. They also can add search engine optimization to their website and some social media marketing. They have a very impressive 4.8 Star Google rating which will prove helpful if the new buyer chooses to market the business. Their city and county is growing quickly.

No construction experience is necessary but would be helpful. The garage door business requires no license(s). They have exclusivity for their main Garage Door vendor and offer several different product lines.

A buyer will get a business that has work in progress, contracted work, and work being in various stages of bidding and approval. In other words, this business will not change the day of the closing, with work being done consistently through the closing date.

The Sales Price is 1.54M plus 56K in inventory. The Seller is willing to carry up to 10% of it for a qualified buyer. This is less than 2.4 times the earnings and this business will qualify for an SBA loan for a qualified buyer. This means that if the buyer carries 10%, that leaves 1,386,000 which a bank will provide 90% of while the buyer matching 10%. Working Capital is estimated to be less than 75K which means the 10% down payment of 138K plus 75K in working capital is 213K which is all that it will take in liquidity to buy this business. The sales price includes all assets except Accounts Receivables and cash. The Seller will pay off all debts at or before the closing. The building that they custom built in 2023 was just appraised in January 2024 for 1.1M and is for sale as a separate transaction which is also contingent of the buyer buying the business also.

Location: Mesa County in Western Colorado

Other Information:

Since 2018 when they purchased the business, they have had a great reputation with top notch customer service as proven by their 4.8 Star Google Rating. They also have a stellar worker’s safety history without any injuries or claims over the last 3 years. The sellers will agree to full Reps and Warrantees to a solid legal and business standing. This is an "S Corp" which means that it will most likely be an asset sale and has been priced that way but could be a stock sale.

The company is located in a brand new, custom 5,400 square foot building which they moved into in 2023. The building has a 2nd floor office space/storage, 3 large bays with 14 foot doors, heavy security, brand new cement slab including the parking lot, perimeter fencing, is zoned B2 Commercial, and a 69,269 square foot lot. The property has many special features. They built it with all future growth in mind. There is also an opportunity to lease the upstairs office or space for storage outside. The building is custom built for the business and was just appraised in January 2024 for 1.1M and is for sale as a separate transaction which is also contingent of the buyer buying the business also.

Colorado is the 2nd sunniest state making this one of the best places to own a business like this. Plus, Colorado is one of the fastest growing and strongest recession proof economies in the United States.

The sales price is 1.54M plus inventory. Please Call or Email for Information: The broker is available at any time to discuss your interest in this offering and can set up a meeting either in person or by phone with the owner(s).

Thank you for your interest,

Jeff C Eisnaugle
Business Broker Colorado, LLC

Growth & Expansion

: This is the best part. Business comes to them already through referrals and recurring revenues. They already have a great website and only spend 7K or less a year on advertising which is less than ½ of 1% of their revenues which is very low. They also turn down work because they decided not to buy another van/pickup and hire another 2 garage door techs since they knew that they were going to sell. They turn down all new customer work over 30 miles away because they don’t have the capacity to do it with how busy they are closer to town. The cost to do jobs that are over 15 miles away is built into the bid and “passed through” so it is still very profitable work. Adding another 2 employees and a properly outfitted truck will add up to 25% additional income and profits. The sellers believe that there are many ways to grow this company including hiring a salesperson to find and develop more relationships with referral partners such as property management companies, insurance agents, Realtors, etc. They also can add search engine optimization to their website and some social media marketing. They have a very impressive 4.8 Star Google rating which will prove helpful if the new buyer chooses to market the business. Their city and county is growing quickly.

Market Competition:

Since 2018 when they purchased the business, they have had a great reputation with top notch customer service as proven by their 4.8 Star Google Rating. They also have a stellar worker’s safety history without any injuries or claims over the last 3 years. The sellers will agree to full Reps and Warrantees to a solid legal and business standing.

Location Details:

The company is located in a brand new, custom 5,400 square foot building which they moved into in 2023. The building has a 2nd floor office space/storage, 3 large bays with 14 foot doors, heavy security, brand new cement slab including the parking lot, perimeter fencing, is zoned B2 Commercial, and a 69,269 square foot lot. The property has many special features. They built it with all future growth in mind. There is also an opportunity to lease the upstairs office or space for storage outside. The building is custom built for the business and was just appraised in January 2024 for 1.1M and is for sale as a separate transaction which is also contingent of the buyer buying the business also.

Support & Training

Will support as long as needed

Reason for Selling:

Thinking of moving

Listing ID: 34205

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