Description of the business for sale
This long established, very successful Commercial Carpet Maintenance & Restoration Services business was started over 25 years ago and has a history of providing excellent service. It serves the dynamic and affluent Washington, DC metro market. It can be relocated within its market. It is not a franchise. The Company serves the needs of businesses in the area, with a very unique and profitable commercial niche. It is one of the few companies that offer complete carpet service. Commercial Carpet Cleaning: This segment is the largest revenue provider, producing on average 60% of the Company s annual revenue. The Company also has a small, residential component which could be expanded should the new owner desire. Water Damage & Sewage Removal Repairs, Stretching, Spot Dyeing, and Whole Carpet Dyeing accounts for the remainder of the revenue. Asking price is reasonable at $875,000 with financing available with as little as 20% down. We look forward to your inquiry. Please be prepared to sign a Confidentiality Agreement prior to receiving the detailed summary. Please email: partners@cogroup.com
GROWTH: The Company is poised for growth.
COMPETITION: The Company has very few comparable competitors in this market, which tends to be fragmented among many very small companies.
REASONS FOR SELLING: Owner wishes to pursue other interests.
Support / Training provided by seller
Full support and training will be provided as part of the purchase price.
Description of the facilities
Details provided in summary.
ADDITIONAL FINANCIAL INFORMATION:
No one customer accounts for more than 10% of annual revenue; the Company has approximately 200 regular clients. The customer base has proven very loyal: many customers have been using the Company for as long as 25 years. Revenue has been very steady at approximately $1.1 million per year; with owner s cash flow of $350,000 on average. The Company enjoys fast and sure payment. The owner estimates that they collect 99% or more of everything they bill. Accounts receivable run approximately 60% paid within thirty (30) days, and 80% paid within sixty (60) days.
• Financing: Financing is available to the qualified buyer.
• Inventory: Included.
• FF&E: Included.
• Real Estate: Leased.