Miami Appliance Repair

Business Description

For sale is a 14-year-old appliance repair business. The business offers on-site appliance repairs for washers, dryers, stoves, wall ovens, microwaves, dishwashers, and refrigerators. A customer under warranty calls the warranty company and they dispatch the order to the appliance repair service. The appliance repair service schedules a remote technician to service the appliance. Then the warranty company pays the appliance repair service directly. 80% of the appliance repair service business comes from warranty work which includes companies such as Electrolux, GE, Whirlpool, AIG, Sears, and others. The remaining 20% of the business comes from customers who appliances are out of warranty and contacts the appliance repair service directly.

Revenue remained nearly steady the past couple of years with $4.1M in 2020 and $4.03M in 2021. There is a slight decline so far in 2022 due to the state of the economy and difficulty replacing technicians who resigned. New technicians were recently hired and the business is already seeing an increase of service calls.

The business model uses remote technicians in central Florida. This business model is easily expandable by adding additional technicians in the central to northern part of the state. Traditional advertising methods could also be utilized to expand the business.

Financial Overview

Asking Price: $2,199,000

Revenue: $4,035,116

Income: $669,020

Multiple: 3.2x

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