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Home Based Remodel Company - Socal Leader
Location California,United States
Asking Price Range $1.0M - $2.5M
Gross Revenues $3447450
Net Profit / Cash Flow $684421
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 2007
Number of Employees 20 - 34
Relocatable Yes
Number of Employees 20 - 34
Real Estate Owned
Training 4 wks at 20 hrs/wk.
Reason for Sale Other Business Ventures.
Description This Southern California home based foreclosure remodel company is one of the leading REO servicers in an industry where reputation and track record are the basis for success. Operating since 2007, this business specializes in remodeling, repairing and maintaining bank REO (Real Estate Owned) properties once the lender has foreclosed and repossessed it. The business is home based, extremely profitable, and can be easily relocated. It is structured for the seller to work less than 30 hours per week, as he has other business opportunities he seeks to focus on in the future. This company is the primary service provider for one of the largest national property preservation companies in the country.
Asking Price $1,000,000
This business is home based. The operations manager also works from their home and coordinates all work orders. All other contractors work from their respective locations. As this is a service based business there is no inventory and minimal fixed assets. The primary assets transferring consist of intangibles such as goodwill, name, reputation, and client and vendor relationships, which allow the business to operate smoothly.
Competition is medium as there are a number of smaller companies who attempt to compete in the industry. This industry requires sufficient working capital to advance vendor payments until receivables are collected which makes it very difficult for smaller companies to compete.
This business has excellent growth potential. The current owner does not aggressively solicit additional customers or work orders in order to maintain a "part-time" work schedule, and often turns down work to facilitate a short work week. A new owner may seek to develop additional customer relationships to increase revenues as well as work longer hours to manage a greater workload and generate additional profits.
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