HVAC Service Contractor in FL
ConstructionFor Sale in St. Petersburg, FL
Financial & Assets Details
About the Business
State of the Art HVAC Company with a long-standing excellent reputation in a growing community. Over 1,500 annual residential service contracts add to their yearly income making this company virtually recession proof. The building is available for purchase and is valued at $950,000. Owner will finance the real estate portion of this purchase with very favorable terms.
The Company pre-covid has averaged a 20% growth over the previous three years with no end in that growth foreseen. Estimated sales growth in 2022 is expected to be 30% higher from sales levels in 2021 with a large majority of this revenue coming from the residential sector. Given the high demand for its services, the Company has been able to expand its operating margin in 2022 at a time when the HVAC industry has experienced a great deal of margin pressure due to an increase in supply chain inflation from increased material costs in the industry.
The Company was founded over three decades ago and has developed a reputation within the Tampa Bay/Pinellas region as an honest and forthright company that delivers value and expertise to its customers. The Company attributes its impressive growth to the quality of its work and the skill and respectfulness of its employees, as well as the Company’s image as a clean, responsible, and moral company. Adding to its following in the Tampa Bay market is the Company’s consistent spending on technological advancements and social media platforms over the last several years.
The Company installs mostly residential HVAC systems that offer consistency and quality given the significant wear and tear of HVAC systems, particularly in the Tampa Bay/ Pinellas region where homes are exposed to hot summers and high humidity.
The Company also has an excellent positioning to maximize its future growth potential through acquisition of similar companies. As global warming expands throughout the USA, HVAC companies will be at the forefront of residential needs to adapt. Having a company that makes it a point to stay ahead of the technology in the industry will be a major advantage of this HVAC company’s ability to stay ahead of the competition. It can also be the model for future growth through advancing the capability of its acquisition targets to also stay ahead of the competition.
During the recent Covid period, this company maintained both its competitiveness and its employee base by treating it’s employees like family. They have ensured that their employees did not suffer through the pain of other companies that had to reduce staff and reduce pay in order to survive. In fact, this company continues to ensure it stays ahead of the competition by investing in its employees and keeping ahead of the curve by investing in inventory that they know will be needed but in shortage as supply issues crippled the industry. They will continue to stay ahead of the competition by maintaining a strong staff of long term, dedicated employees.
Company & Market Highlights
• Started by the Company founder in late 1980s and has experienced consistent growth and profitability ever since.
• Company has an established management structure that can operate independently of the Company owner.
• Company operations are managed with experienced leaders and being trained to take over.
• The Company enjoys a high degree of visibility and customer awareness in its target market due to its consistent investment in employee advancement and education.
• The Company does not have any competitors who are significantly larger than they are and most of the competition in the market are smaller, less organized, and lacking strategic direction.
• The greater Tampa Bay/Pinellas region is home to more than 2,447,000 people, economically sound, with an average family income of $56,000.
• Expanding more into the commercial sector and offering expanding residential services.
• Using the most technologically advanced sales techniques and software.
• Number of vehicles is 10
• Working throughout the State of FL
• Still installing systems in their longest servicing customer over 3 decades
According to IBISWorld, demand for the Heating and Air-Conditioning Contractors industry experienced consistent growth for the majority of the five-year period to 2021, in line with broader economic expansion. Industry operators are primarily engaged in the installation, repair and maintenance of heating, ventilation, air-conditioning (HVAC) and refrigeration systems. As a result, revenue growth is influenced by trends in broader construction activity, where market-specific dynamics also influence demand for industry services. While positive trends in construction benefited the industry for the majority of the five-year period, economic disruption from the COVID-19 (coronavirus) pandemic is expected to disrupt the industry's expansion, while also reducing general profitability. Overall, industry revenue is forecast to rise
at an annualized rate of 4.0% over the five years to 2021, totaling $120.2 billion, which includes a significant bump of 8.4% in 2021 alone as residential construction activity surges amid shifting demographic preferences.
IBISWorld expects total revenue to increase at an annualized rate of 0.3%, totaling $122.2 billion over the five years to 2026, as key downstream markets stabilize, and the broader economy emerges from pandemic recession. Still, material effects of the pandemic remain uncertain.
Growth & Expansion
Square Footage: Building 5,298 Land 12,000
Reason for Selling:
Owners looking to Retire