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Back on the market. Buyer did not perform. Updated Information: 2021 revenue for the first quarter is well over $800,000. Based on the first quarter revenue, the seller believes that revenue for 2021 will be approximately $2,500,000. This is approximately a $1,000,000 increase over the 2020 revenue. This business remained open during the pandemic but some of their customers had to reduce activity and delayed performing maintenance because they were operating at a reduced level. This is an established Industrial Supplies Distribution business for sale in the Tri-State area of Pennsylvania, Ohio and West Virginia. This distribution business has been operating for more than twenty years and is well established in the industry. The business is staffed by trained employees and is fully managed. The owner of the business is an absentee owner who resides in another state. In fact, the owner has not been at the business location for almost two years. Since he has not been involved, the business revenue has suffered. In 2017, revenue was $3,652,945, 2018 revenue was $3,103,006 and 2019 revenue was $2,500,660. The Seller's Discretionary Earnings in 2017 was $320,660, 2018 the SDE was $299,842 and in 2019 SDE was $54,612. In 2020, the business started the year strong and then the Covid-19 epidemic hit. The business took a hit as some of the customers had either shut down or reduced operations. This business is considered essential and never closed. The staff remains intact except for a couple of non-essential employees that were laid off. There were two main factors for the declining revenue over the last few years. The first is the largest customer filed for bankruptcy protection in early 2018 and emerged from bankruptcy in the first quarter of 2020. The second is the owner has developed a serious health issue and has not been very active with the business since 2018. This business has been a very profitable business over the last twenty years and can be very profitable again. The business needs either an owner operator who will manage the day-to-day operations or a larger distribution company that can take over the business and provide oversight. The business maintains approximately $375,000 in inventory which is included in the sale. The current owner of the business has a serious health issue and is well past retirement age. This business is priced for a quick sale and will be a great opportunity for a new owner.
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