Listing

Business Description

Tech-Enabled Operations Keep Company Lean & Margins High; Strong Reputation for

Founded in 2015, The Company is a remodeling contractor business that serves the San Francisco/ North Bay area, including Marin, Napa, and Sonoma Counties. While The Company provides a wide range of different construction services, their niche is remodeling, with 90% of their 2021 workload being remodels, vs 10% being new-build construction. There were no new-build contracts in 2020.

The Company has delivered consistently over the years on its tagline: “Because a bad contractor will cost you more than a good one.” They have a strong local reputation for reliability and quality of service.

The Company’s success is built on trust and simplicity and leverages technology to oversee operations and onsite job surveillance. Digital surveillance reduces payroll expenses, holds workers accountable, and enables several job sites to be monitored simultaneously, which both keeps operations lean and increases profit margins.

The Company employs a simplistic, weekly invoicing and payment structure, which helps manage client expectations, pays its full-time staff weekly, and keeps the Company’s cash flow on a weekly basis. The Company only accepts cash payments.

Customers pay a flat, hourly fee for labor and are charged wholesale for materials, which sets the firm’s pricing structure apart from its competition, who often charge extra for materials and invoice differently for each type of laborer. Average weekly invoiced account receivables (labor only) is $50,000+. The Company has 7- 10 jobs going on at any given time. Approximately 30% are large projects, ranging from $300,000-$500,000.

The Company is poised for multiplying incoming leads by setting up digital marketing strategies. To date, Yelp, paid digital ads, and word-of-mouth have been the two main avenues for advertising.

The firm’s local real estate markets are trending upward, and more people are spending time at home, which has resulted in an uptick in demand for home construction and remodeling.

Purchase Considerations:
~Founded in 2015, The Company is a remodeling contractor business that serves the San Francisco/ North Bay area, including Marin, Napa, and Counties.

~The Company and its operations are based on three principles that build their reputation for transparency and trustworthiness: competency, reliability, and honesty.

~The Company serves areas with affluent, upwardly mobile customers who seek high-end renovations in their homes.

~The Company, which is union-free, leverages technology to remotely monitor its teams of professional employees. The on-site cameras keep crewmembers accountable and provide real-time footage and images to share with customers so they can see the progress being made on their projects.

~The tech-enabled management reduces the need for full-time, onsite foreman, allows Ownership to manage several job sites at one time, and keeps project overhead lean as a result.

~The Company charges customers a flat hourly fee for labor, charges wholesale for supplies, and invoices on a weekly basis, which eliminates the need for change orders, helps build trust, and manages expectations while maintaining a weekly cash flow cadence.

~The core of the Company hinges on simplicity and transparency. Not only are the Company’s customers, staff and bottom line served by this approach, but it also makes the transfer of the new ownership equally seamless.

~90% of the Company’s $2.88 MM in business for 2020 was in remodeling.

The company is for sale for $3,100,000

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