Roofing, Siding, & Gutter Repair & Replacement Services
Project Manager who runs day-to-day operations already in place!
A project manager who runs the day-to-day operations is already in place for this company! With a solid reputation in the market, this Central Iowa business has substantial growth opportunities. Well-established for over 15 years in Des Moines, they primarily serve the residential market, doing roof repairs and maintenance, as well as gutter and siding repair. Offering high-quality Owens Corning, Malarkey, and GAF roofing products to their customers, their highly experienced subcontracted crews pride themselves on ensuring each roof is in the best condition possible. For each customer, they provide an in-depth roof inspection to assess damage and determine the scope of repairs needed, bid the project within 24 hours, and fulfill the necessary roofing services within 2 weeks. While there is some seasonality to the business due to weather conditions in the winter months, the other nine months more than make up for the temporary lack in revenue. Their average gross profit ranges from 35-45%; the company’s sales hit $1.4M in 9 months’ time last year, with a gross profit of 39%.
Employees consist of the owner, who handles general oversight, and 1 Project Manager/Salesperson who runs the day-to-day operations. They have a well-established roster of go-to subcontractors who comprise the roofing crews and are assigned based on project size and scope. Assets include two 2020 H&H 7x14 Dump Trailers, a 2019 Chevy 2500, and a 2018 Chevy 2500, as well as 2 laptops, 2 cell phones, an established website, and project management software, JobNimbus.
Priced at $580,000, a down payment of $58,000 returns $124,213 in the first year after debt payments – a 214% return on investment! There is tremendous growth potential for a new owner – expanding the service area, increasing the sales force, and going after more commercial work would undoubtedly boost revenue.
Year Established: 15+ years
Location: Des Moines, Iowa
Service Area: Central Iowa; primarily within 20-mile radius of Des Moines
Services: Roofing (90%), Gutters & Siding (10%)
Clients: Residents in the area in need of roof repairs and/or maintenance
Lease: Currently leasing a 2,300 sq. ft. office space; commercial space is not required to the run the business
Reason for Selling: Pursuing other (non-compete) ventures
Personnel: 2 W2 employees: 1 Owner + 1 Project Manager/Salesperson, plus a well-established roster of subcontracted crews and 1 part-time subcontracted accountant
Seller Training Period: 3-6 months
Growth Opportunities: Expand service area, increase sales force, pursue more commercial work
Current Owners’ Responsibilities: General oversight
List Price: $580,000
- 3-Year Average Cash Flow: $206,878
- A/R: $103,902
- Pipeline: Approximately $100k presold for Spring 2021
*amounts may vary
Assets of Business
- Assets: $240,000+
- Equipment: 2 Laptops, 2 Cell Phones, basic office furniture
- Vehicles: $136,376: (2) 2020 H&H 7x14 Dump Trailers, 1 2019 Chevy 2500, 1 2018 Chevy 2500
- Software/Data: Website, JobNimbus Data, QuickBooks Data, strong local SEO through GMB
- Intangible: Word-of-mouth referrals, well-known name, and solid reputation in Central Iowa
* 40% Collateralized *
Cash Flow Analysis
|Description of Financial Statement||P&L Statement|
Jan-Dec 2020 Cash
|Net Income Shown on Financial Statement||$185,142||$254,018||$120,966||$81,793||$69,152|
|Meals & Entertainment||$7,586||$4,316||$5,105||$5,564||$2,931||Personal Expense|
|Health Insurance||$91||$0||$0||$0||$0||Personal Expense|
|Seller's Cash Flow = Total Addbacks + Net Income||$188,650||$298,400||$133,583||$91,262||$76,910|
|Profit Margin||13.94 %||20.60 %||9.96 %||7.57 %||11.06 %|
Offer Price: $
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Total Business Assets, Inventory, and A/R: $
Total Undercollateralized Loan: $
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