SBA Preapproved: B2B Administrative Services for the Renewable Energy Industry

Business Description

For sale is an 11-year-old company that helps solar & energy storage contractors with the administrative paperwork that goes behind each installation. The business offers two services where they do the administrative paperwork: the first is interconnection, which is utility paperwork. Revenue for interconnection can be between $100-$380 per residential job and $600-$10,000 per commercial job. Rebate paperwork is the second service they offer, which is typically a rebate from the state or federal government. Revenue from this service averages $500-$1,400 per rebate application.

This business has extremely high net margins of 83% (2021 accrual basis). The only large expenses are payroll and insurance.

By geography, revenue breakdown is ~80% in California and 20% out of state although recently the company has shifted towards servicing clients nationwide. The company has around 125 clients, many of them frequently send jobs to the company.

Staff: all remote, no office, leveraging overseas virtual assistants as well as three USA-based staff (2 salaried and one contractor). The Operations Manager is being trained up to take on more responsibility within the company.

Marketing: none, all word of mouth. The owners used to do Google Ads but stopped 6 years ago.

The owners are a couple that have a second kid on the way, along with aging parents, and are looking to spend more time with family.

Financial Overview

Asking Price: $5,500,000

Revenue: $1,680,481

Income: $1,384,153

Multiple: 3.97x

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