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Fort Worth Gutter Manufacturer-installer For Sale

Fort Worth, Texas
Asking Price:
$278,000 (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$514,939 (USD)
Cash Flow:
$112,867 (USD)

Company is a 46 year old well-established, highly rated fabricator and installer of seamless gutters serving residential customers, builders and roofers, primarily in Fort Worth, Dallas and surrounding areas. Rain gutters and downspouts protect buildings, foundations and landscaping from water damage. Seamless aluminum gutters make up the clear majority of the market. The company primarily installs 5” and 6” aluminum K-style gutters plus highly profitable half-round gutters. (5” K-style gutters are the typical standard gutter found on a home; 6” are usually installed on larger roofs.) The company also installs leaf guards and performs repairs and maintenance of existing gutter systems. The company is a profitable business with strong growth potential. Typical backlog is approximately 5-6 weeks (estimated at 60-90 presold jobs). The seller states that the business has excellent matching books & records and that the seller can prove all sales, expenses and income.
The owner works approximately 30-35 hours per week and feels that a major advantage over competitors is the seniority of the employees. The 3 lead employees average approximately 24+ years seniority, are provided healthcare/401k and are paid via W2 reported wages. The crews are professional and are a major asset to the company. Customers are happy with the service and committed to using the company. The owner can be replaced by a hard-working owner who is dedicated to the company.
The company receives repeat business and referrals from an estimated 50+ contractors and 20,000+ estimated installed base of customers. Additionally, leads are generated from signage on their trucks/trailers and the company website. The owner feels that the business could grow faster by adding a salesperson calling on builders and contractors. Warranty service calls are rare due to their industry-superior installation methods and, in fact, the company has had many repeat and referral customers for 25+ years. The company advertises on a couple of platforms which, when eliminated and replaced by a website, can generate $20,000 in increased profits.
The owner estimates that seamless gutters are 95% of sales and leaf guards 5%. The typical job takes approximately 2-3 hours to install and is approximately $900-1,000 +/-. The owner estimates that, historically, the customer base is 15% roofers, 5% home builders/remodelers and 80% retail residential. The mix varies; for instance, roofers will generate more jobs during hailstorm years. The number of customers varies per year and was ~650 in 2018 with approximately 725 jobs. The customer base is diversified with the largest customer (roofer) estimated at 7% of total sales (varies by year) and the top 10 customers typically generating approximately 23% of total sales. The seller estimates that jobs are ROUGHLY located ~70% Tarrant County and ~30% all other counties.
The asking price for the assets of the business is $278,000 with $60,000 CASH down payment and balance financed as an SBA7(a) loan. If required by a commercial lender, the seller will consider financing up to 10% of the price to a purchaser qualified/approved by the seller. All financing is to be personally guaranteed. Seller prefers to sell for ALL-CASH. The assets include inventory at cost of $12,000, Accounts Receivables valued at $28,000 and FFEV (Furniture, Fixtures, Equipment and Vehicles) valued at $52,000. The price will be adjusted for actual inventory, work in process (WIP) and accounts receivables as of the sale date.
KEYWORDS: downspout gutter seamless Guttergard electric trade plumbing heat AC air conditioning welding special roof concrete water sewer drain excavation security steel wrecking demolition glass glazing tile floor carpentry gutter roofing paint swimming pool brick masonry sell my gutter business for sale.

Property information

Real Estate:

Lease

Lease Terms:

The business occupies approximately 6,365+/- SF building with excess space. The building was specifically built for use as a gutter installation business. The layout consists of parking, storage, warehouse, mezzanine storage, restrooms, offices, kitchen, fenced exterior parking/storage area and parking. The landlord will lease the building for ~$3,500/mo. The landlord will offer a long-term lease of 5 years with a 5-year renewal option, to a tenant qualified and approved by the landlord.

Leasehold Rent:

$3,500 (USD) per annum

Size in square feet:
6,365

Business Operation

Expansion Potential:

The seller has used quality and reliable installation, great customer service, word of mouth and repeat/referral customers to build the business. The company receives repeat business and referrals from an estimated 40+ contractors and 20,000+ estimated installed base of customers. Additionally, leads are generated from signage on their trucks/trailers and the company website. The owner feels that the business could grow faster by adding a salesperson calling on builders and contractors. Warranty service calls are rare due to their industry-superior installation methods and, in fact, the company has had many repeat and referral customers for 25+ years. The company advertises on a couple of platforms which, when eliminated and replaced by a website, can generate $20,000 in increased profits. The owner feels that the business could grow faster by adding a salesperson calling on builders and contractors. The owner does estimates and has a simple chart to calculate prices. A valued and skilled senior employee does estimates when the owner is unavailable or on vacation. A new, energetic owner can further increase sales & profits in many ways: 1) Add a sales person to call on roofers, builders and renovation contractors. Seller feels that many more can be acquired if pursued by an aggressive owner, 2) Use lawn signs on installations for drive-by traffic and neighbor referrals, 3) Consider adding a new crew to prepare for continued growth, 4) Improve the business website (owner is not a techie), 5) Use technology to simplify estimating, scheduling process, 6) Consider adding complementary products such as windows, window screens, solar screens, shutters, vinyl siding, soffit, garage door repairs, Christmas light installation, …

Competition / Market:

The business attracts customers from the Dallas Fort Worth Metroplex and surrounding areas (but focuses on Fort Worth and surrounding area). The owner feels that the industry is very competitive. Most companies have 1 to 2 crews (2 to 6 employees). Despite the presence of competitors, the business has continued to thrive and can further grow with marketing and adding installation crews.

Reasons for selling:

Retirement

Employees:
3
Years established:
46

Other Information

Support & training:

Seller will train buyer for 4 weeks included with the purchase price. Seller is willing to provide additional training at mutually agreed compensation for a finite period.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

Price $278,000: $60k down + SBA Loan, up to 10% seller financing

Furniture / Fixtures value:
$52,000 (USD) - included in the asking price
Inventory / Stock value:
$12,000 (USD) - included in the asking price
Related Documents:

Contact Information

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