Business Description
For sale is a family-owned 15-year-old patio cover and deck business based in Washington. Services include building patio covers, decks and railings, and commercial railings, with decking being the best-selling service (comprising 50% of revenue).
The clientele is 60% residential and 40% commercial, with the majority being repeat and referral customers. On the commercial side, they work with one of the biggest multi-unit developers in the Pacific Northwest, building their decks railings, stair railings, and ADA handrails.
Despite new construction halting in certain geographic areas of the country, this part of Washington is booming and many properties are being built, increasing client bids and creating an influx of job opportunities.
While Q1 2024 looks down, they are actually doing quite well. While they were previously under contract for six months and planning to close, they didn’t bill commercially because they were going to do one huge billing right before the sale went through. They have since rectified that and sent out the invoices, so Q2 should reflect healthy profit. In addition, they also brought on and were training two carpenters, which is a huge added value to the business but did affect profits. May looks to be a record month, with more than $100K collected in just the first week.
The owners look forward to retirement and currently have 8 W2 employees, including two long-time senior managers who could take over day-to-day operations and six field crew employees. The owner is confident they will stay with the company post-sale. It would be helpful, though not necessary, for a buyer to have basic knowledge of the industry and bidding.
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Revenue | $896,769 | $1,145,996 | $1,539,738 | $1,664,288 | $1,545,512 |
| SDE | $255,459 | $257,830 | $330,519 | $383,028 | $599,669 |