Acquisition Opportunity

Installer and Refinisher of Custom Hardwood Floors

BUSINESS OVERVIEW

Empire Business Associates, a merger and acquisition firm represents the owner of a company that refinishes and restores existing hardwood floors, as well as installs new custom hardwood floors throughout Northeastern Ohio and the surrounding areas. They specialize in working with oak, maple, hickory and a variety of exotic imported wood types.

Founded in 1997, the company has enjoyed good market penetration and a high degree of name recognition. Annual sales break out roughly at: homeowners (60-70%), new construction, remodelers, and restoration contractors (30-40%).

The company has enjoyed a stable sales volume over the past five years due to its ability to provide consistently high quality craftsmanship and competitive pricing. Aggressive promotion, a web site presence, and favorable listings by various consumer advisory groups have solidified their reputation in the local marketplace.

INVESTMENT CONSIDERATIONS

The prospective buyer is offered the opportunity to purchase an excellent company at a fair price. The many benefits of acquiring this well-established service firm include:

• The company has earned a reputation for providing high quality service and on-going customer support.
• The business has established a loyal base of satisfied customers located across Northeast Ohio.
• Housed in a 1,300 square foot facility in suburban Cleveland, Ohio, the company has everything needed to provide excellent service and on-going customer support.
• The company is staffed with experienced, well-trained work crews and support personnel.
• The company is in a very competitive market position.
• The company has seen revenues hold steady over the past several years.
• An energetic, focused new owner can realistically expand/sustain this business without a major capital expense.

FUTURE STRATEGIES FOR GROWTH

While the company has been successful, the owner feels that the business could be taken to a higher level with additional emphasis in the areas of sales and marketing. This has been a role of his within the company; however, as often is the case, his responsibilities in running the day-to-day operations have sometimes limited the time he has been able to devote to these activities.

Additionally, the geographic area of service could be easily expanded to include new sales opportunities, and well as contacting new building and restoration contractors in the existing area of sales coverage.

FINANCIAL INFORMATION

REASON FOR SALE & TRANSITION PLAN

The owner wants to sell due to personal reasons. He is willing to remain after sale of the company, as deemed necessary, for a reasonable period of time during which an orderly transition between owners can take place. This includes the divulgence of any and all proprietary knowledge necessary to operate the business and preparation of the company’s customers, vendors and employees for the smooth transition. He is committed to helping the new owner in every way possible to succeed, and is willing to remain available on a consultancy basis after the transition period.

PRICE & TERMS

The price of the Company is $450,000, which includes the following business assets: customer list, existing booked business, office, sanding and installation equipment, wood material inventory and going concern values attached to the company. Those assets not included in the sale of the business are the cash, accounts receivable, accounts payable and work in progress.