30+ year old fencing business with tens of thousands of completed jobs that form a strong referral base for ongoing sales and referrals. Installations include chain link, wood, vinyl, iron, wrought iron for a variety of needs and installations include automated gates, etc. Revenues have been increasing over the years and 2019 is on track for another $500,000+ net profit year. Customers include homeowners, contractors, city/county for fence repairs and new installations, HOAs, etc.Owner has had a number of same age friends pass away and it has caused him to reconsider his priorities and he simply wants to change his lifestyle and wants to spend more time with his grandkids. With this in mind he has been slowing down and literally turning away additional business --- which creates a great situation for a New Owner with a strong work ethic and a desire to grow the business beyond its current level. Owners Discretionary Income (ODI) for 2017 and 2018 averaged over $500,000 and 2019 is on track to net the same. Current owner will train and transition and provide longer term consulting together with agreeing to a non-compete agreement.
The purchase price of $1,350,000 includes $250,000 of working capital ($150,00 of inventory and $100,000 of Accounts Receivable) which means paying $1,100,000 for $500+ of ODI.
SBA lender has approved this transaction with buyer putting $200,000 down and subject only to approval of the buyer's ability to manage the business.