Due to the owner’s retirement, a very profitable builder of swimming pools & spas is offered for sale on one of the Hawaiian Islands on a totally turnkey basis including the transfer of all work in progress to the buyer.
The Company builds pools with an average price of approximately $90,000 per pool (range of about $75,000 to a high of $150,000). The company has a long tenure and has developed an excellent brand recognition and preference in the market for quality work with both individuals and home builders.
They have been consistently busy and profitable. Total annual revenues and owner’s profits (trailing 12 months as of July 31, 2016) were $1,110,000 and $266,200, respectively; and sales growth continues with a 22% growth since last year. Their profit margins are considerably higher than on the mainland due to modest competition and the ability to work 12 months per year. To keep the business simple and to maintain a low cost capital base, they lease all “employees”, use subcontractors and lease most of their equipment.
The market for swimming pools in Hawaii continues to be very hot since pools can be enjoyed 12 months per year, the Hawaii economy is strong and there are excellent growth opportunities in the current island market and to expand to other islands in Hawaii, as well as, by adding complimentary products.
For confidentiality reasons, the island location will only be disclosed to those who sign a non-disclosure agreement and have sufficient financial capacity. Hawaii requires a pool contractor’s license, so a prospective buyer must be able to qualify for this. Seller will provide a transitional license for a reasonable period after closing to facilitate buyer’s receipt of a HI license.
Diamond Financial Services, a national SBA loan broker, has provided a pre-qualification letter to us and based on no material change in the business and a credit worthy buyer they most likely will be able to get a SBA lender to provide the following to a buyer:
Loan amount: $548,250
Term: 120 months
Interest Rate 6.5% (Prime plus 2.75%) Variable
Monthly Payment: $6,225
Pool Builders: Isn’t now the time to live in Hawaii’s paradise, to own a business that operates 12 months per year and generates more than enough cash flow to enjoy the good life?
Asking Price $625,000
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