Established Electric Company For Sale In Martin County, FL
Business Description
HS Listing ID-63387
Asking Price: $650,000
Annual Figures: 2024
Gross Sales: $969,010
Net Profit: $380,684
Expenses: 2023
Total COGS: $297,718
Payroll: $302,436
Business Highlights:
- In business for 22 years
- Services mainly just Martin County and some St. Lucie County
- Projected to do over $1,000,000 in 2025
- Does not have physical location. Works from home.
- 1 owner is involved day-to-day in the business (some in the field, sales, estimates), 5 guys in the field, 1 part time office personnel
- 100% high end residential homes
- 50% service 50% new construction/remodel
- They do no advertising. All business comes from general contractors. Lots of growth potential!
- 3 company vehicles come with the sale
- Great retention with the employees
- Booked to the end of the year with jobs
- Fully approved by SBA lender
- Owner will qualify the business with his license or 1 of the Master Electricians in the company
- Owner will stay on for a transition period to make sure everything is smooth before leaving
- Reason for the sale: Owner is moving to a different state
2024 Addbacks
Compensation of Officers: $150,331
Interest: $5,697
Depreciation: $57,253
Total Addbacks = $213,281
Ordinary Business Income: $167,403 + $213,281 (addbacks)
True net for 2024 = $380,684
2023 Addbacks
Officer Salary: $142,248
Personal Vehicle:
1/1/23- 4/1/23- $578.00 x 4 months= $2,312
4/1/23- Deposit on new Jeep grand Cherokee= $25,000
5/1/23- 12/31/23- Payments made on new Jeep $1,016.00 x 8 = $8,128
Total Addbacks = $177,688
NOI on 2023 P&L: $88,210 + $177,688 (addbacks)
True Net for 2023 = $265,898
2022 Addbacks
Total Interest Expense: $3,962
Officer Salary: $141,901
Personal Vehicle:
1/1/22- 12/31/22- $578.00 x 12 months= $6,936.00
Total Addbacks = $152,799
NOI on 2022 P&L: $78,279 + $152,799 (addbacks)
True Net for 2022= $231,078
2021 Addbacks:
Depreciation: $35,481
Total Interest Expense: $5,130
Officer Salary: $120,444
Personal Vehicle:
1/1/21- 12/31/21 Car payments made for Jeep Grand Cherokee= $578.00 x 12 months= $6,936.00
Total Addbacks = $167,991
NOI on 2021 P&L: ( - $8,732) + $167,991 (addbacks)
True net for 2021 = $159,259
Broker Name: Steinberg RE Holdings, Inc.
License Number: #BK3614108
A SIGNED CONFIDENTIALITY AGREEMENT IS REQUIRED FOR THE EXACT LOCATION
Asking Price: $650,000
Annual Figures: 2024
Gross Sales: $969,010
Net Profit: $380,684
Expenses: 2023
Total COGS: $297,718
Payroll: $302,436
Business Highlights:
- In business for 22 years
- Services mainly just Martin County and some St. Lucie County
- Projected to do over $1,000,000 in 2025
- Does not have physical location. Works from home.
- 1 owner is involved day-to-day in the business (some in the field, sales, estimates), 5 guys in the field, 1 part time office personnel
- 100% high end residential homes
- 50% service 50% new construction/remodel
- They do no advertising. All business comes from general contractors. Lots of growth potential!
- 3 company vehicles come with the sale
- Great retention with the employees
- Booked to the end of the year with jobs
- Fully approved by SBA lender
- Owner will qualify the business with his license or 1 of the Master Electricians in the company
- Owner will stay on for a transition period to make sure everything is smooth before leaving
- Reason for the sale: Owner is moving to a different state
2024 Addbacks
Compensation of Officers: $150,331
Interest: $5,697
Depreciation: $57,253
Total Addbacks = $213,281
Ordinary Business Income: $167,403 + $213,281 (addbacks)
True net for 2024 = $380,684
2023 Addbacks
Officer Salary: $142,248
Personal Vehicle:
1/1/23- 4/1/23- $578.00 x 4 months= $2,312
4/1/23- Deposit on new Jeep grand Cherokee= $25,000
5/1/23- 12/31/23- Payments made on new Jeep $1,016.00 x 8 = $8,128
Total Addbacks = $177,688
NOI on 2023 P&L: $88,210 + $177,688 (addbacks)
True Net for 2023 = $265,898
2022 Addbacks
Total Interest Expense: $3,962
Officer Salary: $141,901
Personal Vehicle:
1/1/22- 12/31/22- $578.00 x 12 months= $6,936.00
Total Addbacks = $152,799
NOI on 2022 P&L: $78,279 + $152,799 (addbacks)
True Net for 2022= $231,078
2021 Addbacks:
Depreciation: $35,481
Total Interest Expense: $5,130
Officer Salary: $120,444
Personal Vehicle:
1/1/21- 12/31/21 Car payments made for Jeep Grand Cherokee= $578.00 x 12 months= $6,936.00
Total Addbacks = $167,991
NOI on 2021 P&L: ( - $8,732) + $167,991 (addbacks)
True net for 2021 = $159,259
Broker Name: Steinberg RE Holdings, Inc.
License Number: #BK3614108
A SIGNED CONFIDENTIALITY AGREEMENT IS REQUIRED FOR THE EXACT LOCATION
About the Business
Real Estate
- Owned or Leased
- Leased
About the Sale
- Seller Motivation
- Other business interests.
- Transition Support
- Yes.
Listing Info
- ID
- 2342218
- Listing Views
- 936
Listing ID: 2342218 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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