Jul 13, 2020 — This profitable Company is a reputable electrical contractor offering diverse services, including industrial, commercial, and residential work, maintenance support, utility contracting, and substation work. The Company’s day-to-day operations are 75% bid work and 25% time and material jobs (small projects to troubleshooting calls) from long-term customers and general contractors.
The Company is overseen by the 100% owner. The shop foreman and office manager handle most of the day-to-day operations. The owner works, on average, 30 hours per week, with his most valuable role being quoting large projects. The owner shows up to work every day because he enjoys the work; however, being physically present at the facility is not necessary to effectively run the Business. Over the last three to four years, the owner has taken more time off and away from the office while giving more responsibility to the managers and employees. Over the last few years, the owner has taken 6 to 10 weeks of vacation per year.
The shop foreman and office manager are excellent managers. The shop foreman and owner have a longstanding relationship (20 years), and the owner has groomed the shop foreman to manage the Company effectively. The owner is confident that a new owner could work 10 to 15 hours per week while maintaining the same market share due to the Company’s outstanding managers. The owner is turning 50 this year, and he would like to relocate to Key West, Florida. The owner is willing to stay on to help transition the Business to a new owner.
Buyers will be required to have a minimum of $100,000, solid credit, and preferably industry experience to qualify for SBA 7a financing.
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