Bay Area Residential Remodeler

Business Description

This four-year-old company is based in Northern California and serves the entire Bay Area. They specialize in home remodeling, including kitchen and bathroom renovations, room additions, landscaping, and exterior work. Their clientele consists exclusively of residential homeowners, with 20% of projects being new construction and 80% being remodels (encompassing full teardowns and rebuilds).

Most projects take four to seven months to complete, depending on their scope, averaging $250k per project. They have experienced YoY growth, and there is significant potential for further growth in the remodeling sector as clients increasingly prioritize updates to existing homes over new builds due to current market trends. In addition, there are ongoing projects generating guaranteed income for 2025.

The company has full time W2 staff which includes office personnel and foremen who assist in managing daily operations. The remaining workforce consists of subcontractors who handle various construction tasks. One of the foremen has the potential to step into the CEO role, and the owner is confident that the team will remain with the company after the sale.

It would be helpful if a new owner has a general contractor’s license in California. However, they could also hire an employee to carry this license for the business.

2022 2023 2024
Revenue $3,094,209 $4,947,529 $5,872,519
SDE $575,240 $582,198 $1,049,915

 

Financial

Asking Price: $3,500,000

Revenue: $5,872,519 (2024)

Income: $1,049,915 (2024)

Multiple: 3.3x

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