Fort Worth Gutter Manufacturer-Installer for Sale 19905
Company is a 46 year old well-established, highly rated fabricator and installer of seamless gutters serving residential customers, builders and roofers, primarily in Fort Worth, Dallas and surrounding areas. Rain gutters and downspouts protect buildings, foundations and landscaping from water damage. Seamless aluminum gutters make up the clear majority of the market. The company primarily installs 5” and 6” aluminum K-style gutters plus highly profitable half-round gutters. (5” K-style gutters are the typical standard gutter found on a home; 6” are usually installed on larger roofs.) The company also installs leaf guards and performs repairs and maintenance of existing gutter systems. This Fort Worth Gutter Manufacturer-Installer for Sale is a profitable business with strong growth potential. Typical backlog is approximately 5-6 weeks (estimated at 60-90 presold jobs). The seller states that the business has excellent matching books & records and that the seller can prove all sales, expenses and income.
The owner works approximately 30-35 hours per week and feels that a major advantage over competitors is the seniority of the employees. The 3 lead employees average approximately 24+ years seniority, are provided healthcare/401k and are paid via W2 reported wages. The crews are professional and are a major asset to the company. Customers are happy with the service and committed to using the company. The owner can be replaced by a hard-working owner who is dedicated to the company.
The company receives repeat business and referrals from an estimated 50+ contractors and 20,000+ estimated installed base of customers. Additionally, leads are generated from signage on their trucks/trailers and the company website. The owner feels that the business could grow faster by adding a salesperson calling on builders and contractors. Warranty service calls are rare due to their industry-superior installation methods and, in fact, the company has had many repeat and referral customers for 25+ years. The company advertises on a couple of platforms which, when eliminated and replaced by a website, can generate $20,000 in increased profits.
SOLD !! We can sell YOUR Gutter Installer Business, too !
Jeff was extremely professional throughout the sales process. Jeff handled the entire sale of my business with complete honesty, extreme discretion, and the highest level of integrity. After the independent appraiser that Jeff set up, I was pleasantly surprised at the amount of money that my company was worth. Jeff explained all aspects of the sale from our initial meeting, up to closing and even continued to follow-up with me to ensure that I was satisfied after the sale had already been finalized. Jeff even secured an amazing lease option of my building providing me additional income for years to come. The entire process from start to finish was much more expedited than I had anticipated. If I had another business to sell, I wouldn’t give it a second thought and would only call Jeff Adam.”
George Coon, President, AAA Seamless Aluminum Gutter Co.
The owner estimates that seamless gutters are 95% of sales and leaf guards 5%. The typical job takes approximately 2-3 hours to install and is approximately $900-1,000 +/-. The owner estimates that, historically, the customer base is 15% roofers, 5% home builders/remodelers and 80% retail residential. The mix varies; for instance, roofers will generate more jobs during hailstorm years. The number of customers varies per year and was ~650 in 2018 with approximately 725 jobs. The customer base is diversified with the largest customer (roofer) estimated at 7% of total sales (varies by year) and the top 10 customers typically generating approximately 23% of total sales. The seller estimates that jobs are ROUGHLY located ~70% Tarrant County and ~30% all other counties.
Five year historical cash flow to owner averages approximately $128,000. 2019 revenues are forecast at $670,000 with cash flow to owner of $175,000. Seller will train buyer for 4 weeks included with the purchase price. Seller is willing to provide additional training, consulting or assist with general management functions, at mutually agreed compensation for a finite period. The owner works 30-35 hours per week in the business.
Facilities: The business occupies approximately 6,365+/- SF building with excess space. The building was specifically built for use as a gutter installation business. The layout consists of parking, storage, warehouse, mezzanine storage, restrooms, offices, kitchen, fenced exterior parking/storage area and parking. The landlord will lease the building for ~$3,500/mo. The landlord will offer a long-term lease of 5 years with a 5-year renewal option, to a tenant qualified and approved by the landlord.
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Competition: The business attracts customers from the Dallas Fort Worth Metroplex and surrounding areas (but focuses on Fort Worth and surrounding area). The owner feels that the industry is very competitive. Most companies have 1 to 2 crews (2 to 6 employees). Despite the presence of competitors, the business has continued to thrive and can further grow with marketing and adding installation crews.
Growth & Expansion: The seller has used quality and reliable installation, great customer service, word of mouth and repeat/referral customers to build the business. The company receives repeat business and referrals from an estimated 40+ contractors and 20,000+ estimated installed base of customers. Additionally, leads are generated from signage on their trucks/trailers and the company website. The owner feels that the business could grow faster by adding a salesperson calling on builders and contractors. Warranty service calls are rare due to their industry-superior installation methods and, in fact, the company has had many repeat and referral customers for 25+ years. The company advertises on a couple of platforms which, when eliminated and replaced by a website, can generate $20,000 in increased profits. The owner feels that the business could grow faster by adding a salesperson calling on builders and contractors. The owner does estimates and has a simple chart to calculate prices. A valued and skilled senior employee does estimates when the owner is unavailable or on vacation. A new, energetic owner can further increase sales & profits in many ways: 1) Add a sales person to call on roofers, builders and renovation contractors. Seller feels that many more can be acquired if pursued by an aggressive owner, 2) Use lawn signs on installations for drive-by traffic and neighbor referrals, 3) Consider adding a new crew to prepare for continued growth, 4) Improve the business website (owner is not a techie), 5) Use technology to simplify estimating, scheduling process, 6) Consider adding complementary products such as windows, window screens, solar screens, shutters, vinyl siding, soffit, garage door repairs, Christmas light installation, …
Support & Training: Seller will train buyer for 4 weeks included with the purchase price. Seller is willing to provide additional training at mutually agreed compensation for a finite period.
Reason for Selling: Retirement
The asking price for the assets of the business is $xxx,xxx CASH down payment and balance financed as an SBA7(a) loan. If required by a commercial lender, the seller will consider financing up to 10% of the price to a purchaser qualified/approved by the seller. All financing is to be personally guaranteed. Seller prefers to sell for ALL-CASH. The assets include inventory at cost of $12,000, Accounts Receivables valued at $28,000 and FFEV (Furniture, Fixtures, Equipment and Vehicles) valued at $52,000. The price will be adjusted for actual inventory, work in process (WIP) and accounts receivables as of the sale date.
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For information, reference Fort Worth Gutter Manufacturer-Installer for Sale 19905 and contact Jeff Adam, PE, MCBC, FRC, CBB at Adam Noble Group, LLC
Phone: (817) 467-2161
www.adamnoble.com
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During 3 decades of M&A service, Jeff Adam has successfully completed the sale of over 825 businesses and advised or completed 1,000’s of business valuations and exit plans. An entrepreneur in his own right, Jeff has started and grown 12 companies in fields including international finance, B2B services, business valuation, construction, screen printing, Mergers & Acquisitions, engineering, and manufacturing. Jeff has donated his time as a distinguished speaker at numerous national & international conferences since 1977 covering topics such as environmental services, engineering, media, craft breweries, exit planning, business valuation, charitable giving, management, business brokerage and M&A fields.
Jeff is President of Adam Noble Group, LLC, a national M&A Advisory firm, professionally valuing and confidentially selling profitable businesses owned by exit-motivated business owners to qualified strategic, corporate, private equity, partners, management, and first-time buyers. Jeff establishes rapport, builds trust, and educates business owners in the steps to meet their goals as they prepare and achieve the discreet, confidential exit of their business. Jeff exclusively represents sellers of $1M-50M value enterprises and endeavors to transfer their businesses to qualified, capable acquirers who will build upon the seller’s vision, goals, culture, and history. Jeff maintains lifelong repeat and referral relationships with sellers, their acquirers, and service providers.
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