SOLD!
Details
| Asking Price: |
$1,100,000 |
| Annual Sales: |
$1,618,873 |
| SDE: |
$340,000 |
| Inventory: | $40,000 |
| FF&E: | $30,000 |
| Real Estate: | Lease |
| Employees: | 2 FT Owners 6 FT |
| Location: | Front Range of Colorado |
| Reason For Sale: | Retirement Other Business Interests |
Business Description
Growing company with seasoned staff and loyal clients is ready for new ownership. One of the two current owners is retiring and the second wants to pursue a different path. They want their clients and employees to continue to prosper. All work is performed by employees (it is not sub-contracted).
This company serves the Greater-Denver market and can be expanded along the Front Range and into the mountain communities. It currently occupies a commercial warehouse/office and can be relocated anywhere along the Front Range and could be operated from a home office.
The national market for solar equipment is very strong and expected to grow as the demand for alternative energy sources increases and the cost for solar equipment drops. The local market has always been stronger than the national market due to such great natural conditions – Colorado is a very sunny state. Colorado is a leading state for political support for clean energy. Denver’s population is growing rapidly with no indication of a slow-down.
Recent advances in battery technology and manufacturing will create another wave of demand in the near future. The company’s revenues have been steady for the last three years with no economic impact from the COVID-19 pandemic.
Revenue Sources
- 57% Commercial Solar Installations
- 15% Residential Solar Installations
- 14% Commercial Electric Contracting
- 4% Residential Electric Contracting
- 10% Solar Service & Remove and Replace
Key Statistics
- Average Commercial Solar Installation: $85,351
- Gross Margin: 35+%
- # Technicians: 6
Owning this established and financially stable company is an excellent opportunity for someone with commercial project management skills and business development experience. The company would make a good bolt-on product for a business that already delivers services to commercial building owners. The owners will provide a few months of full-time training and will be available afterward on a part-time, consulting basis.
With SBA financing and several SBA incentives available, the business can be acquired with a down payment of 10 to 15%. A typical SBA loan structure would require a $150,000 down payment and a $950,000 loan. Working capital and additional capital for expansion may be added to the SBA loan package.
Represented by Bill Scott. Tell me more about this business.