For sale is a very profitable 69-year-old family owned and operated garage door company servicing Massachusetts and Northern Rhode Island.
Over the past several years, they have switched gears and have been focusing on the residential market. Currently their revenue is primarily residential homeowners’ service/installs (90%) with commercial service/installs representing the remaining 10%. The residential revenue is a 50/50 split between service/repairs and installations (and part of their residential installations include jobs for approximately 8-10 home builders).
In addition to sales and installation of garage doors and garage door openers, they offer expert preventative maintenance and repair services and are available 24/7 for emergency repairs. They have created competitive pricing with outstanding packages that include extended warranties.
There are four full-time staff members (two sales/admin and two technicians) that essentially run the busy day-to-day. An Owner/Operator with general management experience could come on and easily take the reins.
Profits from 2018 to 2021 fell a bit due to the business bringing on two additional employees. Additionally, 2020 revenue dropped due to the pandemic and the business’ inability to be onsite at homeowners’ residences amid health and safety precaution protocols.
The business is pre-approved for an SBA loan for a qualified buyer.