For Sale: Garage Enhancement Service, Dealership - Marin County

Description About This Posting: Garage Enhancement Service, Dealership

Garage Enhancement Dealership Covering SF, Marin and San Mateo Counties

FINANCIAL INFORMATION
Asking: $259,000
Annual Gross Revenue: $400,000
Annual Net Cash Flow: 140,000
Furniture, Fixtures & Equipment: $36,000 (included in price)
Inventory: $20,000 (included in price)

SUMMARY:
Despite the pandemic the phones at this business, Golden Gate Garage Storage, have kept ringing, orders are being placed and the backlog of projects to be done keeps growing. They currently have two months of orders waiting to be installed.

The seller has just added a showroom and larger warehouse space. This showroom allows potential customers to see and feel these very impressive garage enhancement products and should grow sales revenue significantly. And the warehouse includes capacity to park a second truck to facilitate a second install crew.

Garage Enhancement is the fastest growing and one of the highest margin home improvement verticals in the country. This business is an exclusive dealer for Gorgeous Garages, America's leading distributor of garage storage solutions, with the only patented wall-mounted rack system with shelving. Business activities for its dealers consist of sales and installation of the high quality, very durable (backed by a lifetime warranty) Shelf/Rack System, Overhead Racks, Cabinets and beautiful, industrial-grade, Polyurea full-broadcast floor coating. The seller has exclusive rights to market these garage enhancement products in San Francisco, Marin and northern San Mateo counties.

Currently almost all sales come through the internet and those expenses are already covered by Gorgeous Garages, the parent distribution company.

A general contractor's license will be needed to own the business, but in the short run a Responsible Managing Officer (RMO) or Responsible Managing Employee (RME) can be arranged while buyer works toward the license.

One of the pluses of working in a garage environment is you can work through all seasons and weather.

Location: San Francisco North Bay Area

Facilities: Golden Gate Garage Storage moved into its new office, showroom and warehouse in May, 2020. The new location has storefront glass and a beautiful new showroom ( by appointment only) with all the products, including three different colors of the floors in separate rooms. The new warehouse is longer so there is room for 2 trucks. So a new owner can add another installation crew and a new truck. There also is new signage in front facing a busy road going to Home Depot, Target and the Honda and BMW dealerships.

Gorgeous Garages is recommending all dealers doing $500K per year or above to have a showroom ( by appointment only), so this works out perfectly at this company's current stage of growth.

Competition: There are other similar businesses in the market and they are maxed out with the demand in the region. But this business owns exclusive dealership rights for the only patented Shelf/Rack Storage System for Marin, San Francisco and Northern San Mateo Counties. This product is the best and most affordable system on the market. Marketing this product usually results in orders for the other high quality garage enhancement products offered by this business.

Growth and Expansion: Garage enhancement is the fastest growing home improvement project in the nation. The 2 current owners work Wednesday through Friday only as a lifestyle choice. They turn away some business but still easily managed to generate $140,000 in pre-tax annual profit in 2019. As noted the new office, showroom and warehouse space will allow for more room to grow and sell. Other adjacent Bay Area territories may be available for further expansion. This small business has lots of opportunities for growth.

Support/Training: The seller will provide up to 2 weeks, 20 hours per week, of training and introductions to further ensure a smooth transfer of ownership. The distributor, Gorgeous Garage, provides its dealers with continued training, support and marketing. Seller is also willing to stay on as a salesperson/bidder on commission.

Reason for Sale: Semi-retirement

Year Established: 2015

Employees: Three part-time

Financing: The seller may provide some financing for a well-qualified buyer with a substantial down payment.

Related Links And Information Regarding This Posting

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Peter Siegel MBA, BizBen Founder, ProBuy, ProSell, ProIntermediary Programs Founder Of BizBen.com (since 1994). I am the Lead Advisor for the ProSell, ProBuy, & ProIntermediary Programs. I consult daily with buyers, sellers, and brokers daily about buying and selling California small to mid-sized businesses. Call 925-785-3118.

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