Attractively Priced Electrical Contractor Business For Sale

Business description

This electrical contractor is successfully operating a business in southern New Jersey. The company has a target market in between Cape May and Tuckerton. Residential homes and developments represent 60% of the revenue base, with the remainder being light commercial. The seller has been in business since the early ‘70s and has a stable client base as indicated by a consistent revenue base, even in challenging “real estate” times. This business is well managed providing a strong cash flow to the seller. A buyer can expect $280,000 SD cash flow AFTER debt service, providing a 60% return on down payment. The facility is pre-qualified on an SBA lending base, and the seller will extend $200,000 in financing. The assumption of $400k in A/P is more than offset by the A/R of $550,000 (all current). The 50+ employees reflect a very well managed, loyal team with 10+ years of employment and are projected to stay with the buyer. The seller will provide a long-term lease for the property in line with SBA requirements, but will also consider a sale of the real estate if so desired. *** ALL DATA BASED ON SIGNED TAX RETURNS ***

Property information

Real Estate:

Lease

Lease terms:

Owner owns property and will provide attractive leasing terms

Location:

Very nicely located, central and easily accessible

Other information

Expansion potential:

Growth and Expansion: Very good, as the county is one of the fastest growing ones

Competition / Market:

Competition: Very limited, company has excellent reputation, very long-term

Support & training:

Seller will provide six months transition training

Reasons for selling:

Retirement

Trading hours:

REGULAR

Financing available:

$450k Down, Seller Note $200k, Bank/SBA $550k

Furniture / Fixtures value:

$405,000 (included in the asking price)

Inventory / Stock value:

$80,000 (included in the asking price)