Successful West Michigan Flooring Company

We are pleased to present this excellent opportunity to own a West Michigan flooring company with a large, protected franchise territory. After a successful run, the sellers are transitioning to a new career opportunity in non-competitive endeavors. Located near a large metropolitan area, this business has succeeded by providing quality service, timely delivery and excellent customer service. The company operates out of a leased 2000 sq ft building with office and warehouse areas. The business is operated by two full-time employees who complement current ownership with sales and operations management. Several qualified and experienced sub-contractors assist with installation of many types of flooring including hardwood, vinyl, plank and laminate. The business boasts a number of positive attributes including: • Average annual revenue of $ 1,300,000 in the past three years • SDE (seller’s discretionary earnings) has averaged an impressive $ 190,000 during the same three-year period. • A large, protected territory near a major metropolitan area with significant growth potential • Solid relationships with several long-term repeat customers. • Mobile showroom brings thousands of samples to customer locations. The company is being offered at $ 495,000 using an attractive 2.6 X multiple of SDE. To ensure continued success, the owner will stay on for a lengthy transition period (if desired by the buyer) and will hold a meaningful seller note for qualified buyers. A typical deal for the purchase of this attractive business is as follows. $50,000 (10% of purchase price) buyer cash is matched by a $50,000 seller note, with the balance financed by an SBA term loan. With this structure total annual debt service would be approximately $66,000 resulting in a post-debt discretionary cash flow for the buyer of an average $130,000 for the past 3 years. The sellers anticipate an asset sale in which they retain cash and A/R while retiring all liabilities. The buyer receives all furniture, fixtures, fixed assets and inventory. If you are searching for a successful business located in a growing and desirable region of West Michigan, this business represents an exceptional opportunity.