PRICE & TERMS

$99,000 for the building or rent from the owner at $1500 per month total with option to purchase later.

$175,000 for the business

• all cash

• minimum of $150K down, seller financing on the balance for qualified buyers

• proof of funds required before setting up a visit to the shop.  

NOTE: A 2022 buyer offered almost $300,000 and backed out due to the revenue decline in 2022. However, the 2023 pipeline is strong and a new owner can take advantage of the reduced price.

• ~$140,000 pipeline of orders received as of 3/25/23, estimated $100K net profit on pipeline since inventory and in-process parts are all included

• All equipment

• Smooth training and transition

• In business since the 1970s

• The two key customers have been customers since the owner acquired the business in 2009

Ideal Buyer & Due Diligence

The ideal buyer would have to verify and be comfortable with the following:

• History and stability of the two key customers and pipeline of orders already received

• Assess the opportunity with 3-4 other customers/past customers

• Get a feel for the marketplace and potential for additional customers and growth

• Be a hands-on owner operator and ideally hire 1-2 more employees over 6-12 months

• Option to hire/promote a supervisor in 9-12 months enabling the owner to spend less than 10 hours per week focusing on finances, strategy, customer relations, marketing and business development

• Relocation is possible, but may not be economical over a long distance or out of state

Reason for Sale

A past health issue within the owner’s family has resurfaced and requires the owner’s attention. This is the reason he has been limited to 20 hours per week since the beginning of this year. This listing is not expected to last long at this price. The value is in the pipeline and long-standing customers. The Seller could run through the pipeline himself and liquidate but does not want to leave the customers in a bind.

Current State of the Operation

Since the owner can only be there 20 hours per week, the sole employee has also been limited to 20 hrs per week since the owner is not comfortable with the employee in the shop by himself for safety reasons WIth 2 people working 20 hrs per week since the beginning of the year, they shipped roughly $40,000 in the first two months. Another $140,000+ of orders is on the books. A new owner coming in full-time alongside the current employee full-time could complete the backlog by the end of the summer. The owner estimates the net profit on the backlog to exceed $100,000 given all the materials have already been purchased.

Transition

The employee knows 95% of the operation and can do the bulk of the training during the transition and beyond. The owner will train the management side of the business. His availability will revolve around doctor’s appointments and personal responsibilities, but he is committed to being available for a new owner. A past employee helps out occasionally with some hours when he is available.

Facility & Equipment

The building is 2200 sf of shop space and 200 sf of office space, plus a shed in the back and more space in the lot. The building shares a parking lot with Maaco. The equipment is organized for operators to efficiently work multiple machines at the same time. The equipment is old, but reliable and produces great parts.

PRICE & TERMS

$99,000 for the building or rent from the owner at $1500 per month total with option to purchase later.

$175,000 for the business

• all cash

• minimum of $150K down, seller financing on the balance for qualified buyers

• proof of funds required before setting up a visit to the shop.  

NOTE: A 2022 buyer offered almost $300,000 and backed out due to the revenue decline in 2022. However, the 2023 pipeline is strong and a new owner can take advantage of the reduced price.

• ~$140,000 pipeline of orders received as of 3/25/23, estimated $100K net profit on pipeline since inventory and in-process parts are all included

• All equipment

• Smooth training and transition

• In business since the 1970s

• The two key customers have been customers since the owner acquired the business in 2009

Ideal Buyer & Due Diligence

The ideal buyer would have to verify and be comfortable with the following:

• History and stability of the two key customers and pipeline of orders already received

• Assess the opportunity with 3-4 other customers/past customers

• Get a feel for the marketplace and potential for additional customers and growth

• Be a hands-on owner operator and ideally hire 1-2 more employees over 6-12 months

• Option to hire/promote a supervisor in 9-12 months enabling the owner to spend less than 10 hours per week focusing on finances, strategy, customer relations, marketing and business development

• Relocation is possible, but may not be economical over a long distance or out of state

Reason for Sale

A past health issue within the owner’s family has resurfaced and requires the owner’s attention. This is the reason he has been limited to 20 hours per week since the beginning of this year. This listing is not expected to last long at this price. The value is in the pipeline and long-standing customers. The Seller could run through the pipeline himself and liquidate but does not want to leave the customers in a bind.

Current State of the Operation

Since the owner can only be there 20 hours per week, the sole employee has also been limited to 20 hrs per week since the owner is not comfortable with the employee in the shop by himself for safety reasons WIth 2 people working 20 hrs per week since the beginning of the year, they shipped roughly $40,000 in the first two months. Another $140,000+ of orders is on the books. A new owner coming in full-time alongside the current employee full-time could complete the backlog by the end of the summer. The owner estimates the net profit on the backlog to exceed $100,000 given all the materials have already been purchased.

Transition

The employee knows 95% of the operation and can do the bulk of the training during the transition and beyond. The owner will train the management side of the business. His availability will revolve around doctor’s appointments and personal responsibilities, but he is committed to being available for a new owner. A past employee helps out occasionally with some hours when he is available.

Facility & Equipment

The building is 2200 sf of shop space and 200 sf of office space, plus a shed in the back and more space in the lot. The building shares a parking lot with Maaco. The equipment is organized for operators to efficiently work multiple machines at the same time. The equipment is old, but reliable and produces great parts.