SOLD!
Details
| Asking Price: |
$700,000 |
| Annual Sales: |
$1,083,000 |
| SDE: |
$207,000 |
| Inventory: | None |
| FF&E: | None |
| Real Estate: | Lease |
| Employees: | 1 PT Owner/ 5 FT |
| Location: | Greater Denver Area |
| Reason For Sale: | Retirement |
Business Description
The Company has been servicing private, corporate and government aircraft for over 30 years. The Owner is not a service technician and only works in business part-time (role is direct sales and project management). This is a great business for anyone with a passion for aviation and good management and sales skills. Pilots, Mechanics, Electricians or Engineers would find this business very rewarding. This is a superb business for a Buyer with a Military background.
FAA requires that all aircraft update and maintain electronics for aviation, navigation, and communication. Company installs, upgrades, and maintains:
- ADS-B (Automatic Dependent Surveillance-Broadcast)
- Autopilot
- Glass Panel (modern, touchscreen diplay)
- Radio Communication Systems
Sale includes equipment, processes, clients, lease, staffing, and pipeline of booked orders and quotes. Company collects a generous deposit on all orders; material costs are pre-paid so working capital needs are very low. Deposits on future jobs will be transferred to Purchaser. Profit margins are very strong (Gross Profit approximately 20%). Company does minimal marketing (less than 1% of budget) so there is ample room to grow if desired (current owner did not wish to increase the demands on his time).
Company has been recognized as one of the top certified dealers for a world-renown product and receives sales leads directly from the manufacturer. Approximately 90% of sales are for equipment upgrades and 10% for repairs.
COVID impact was very minimal as this was recognized as an essential business. There were supply chain and staffing issues which caused delays in completing projects but did not cause any loss of sales. Some clients have postponed upgrades during this time and are now moving forward.
Owner is retiring but will consider staying for a while in a direct sales role or as consultant for special projects on straight commission or hourly basis.
SBA lenders have already prequalified the business. A 15% ($105,000) down payment is needed to purchase this business based cash-flow history. Lenders do consider the financial strength and experience of each Buyer.
Represented by Bill Scott. Tell me more about this business.