High Net Plumbing Company For Sale In Myrtle Beach, SC
Business Description
HS Listing ID-63414
Asking Price: $599,999
Annual Figures: 2023
Gross Sales: $502,382
Net Profit: $305,579
Business Highlights:
- In business for 34 years
- Services mainly North Myrtle Beach to Georgetown
- Projected to do over $600,000 in 2024
- Does not have physical location. Works from home.
- The owner is the only employee. This is perfect for a company that wants to add an additional $600,000 in revenue to their existing business while just adding 1 plumber.
- 2018 stocked van comes with the sale
- 50% residential and 50% commercial. Mostly service work. Does not have contracts.
- Most of the business is referrals. No website. A lot of value add with additional marketing!
- Fully approved by SBA lender
- Owner will stay on for 6 months to 1 year to make sure there is a smooth transition with customers
- Reason for the sale: Owner is 65 and retiring
2023 Addbacks:
Auto Loan : $12,000 (2 personal vehicles)
Dist of Profit: $157,200 (Owner distribution)
Equip purchase: $9,290 (Personal purchase from Lowes)
Total Payroll: $145,101 (Owners salary)
Retirement: $17,416 (Personal)
Simple Contribution: $4,032 (Personal)
Tax/Property: $1,309 (Personal property)
Tax/Property: $6,139 (Personal property)
Total Addbacks: $352,487
Net Income on 2023 P&L: ( - $46,908)
+ $352,487 (Total addbacks)
= $305,579 True net income for 2023
2022 Addbacks:
Auto Loan: $12,800 (2 personal vehicles)
Dist of profit: $157,200 (Owner distribution)
Total Payroll: $96,874 (Owners salary)
Retirement: $11,609 (Personal)
Simple Contribution: $2,688 (Personal)
Tax/Property: $1,748 (Personal property)
Total Addbacks: $282,919
Net Income on 2022 P&L: $46,515
+ $282,919 (Total addbacks)
= $329,434 True net income for 2022
2021 Addbacks:
Auto Loan: $12,800 (2 personal vehicles)
Dist of profit: $127,200 (Owner distribution)
Total Payroll: $96,874 (Owners salary)
Retirement: $12,333 (Personal)
Simple Contribution: $2,688 (Personal)
Tax/Property: $1,149 (Personal property)
Total Addbacks: $253,044
Net Income on 2021 P&L: ( - $20,208)
+ $253,044 (Total addbacks)
= $232,836 True net income for 2021
A SIGNED CONFIDENTIALITY AGREEMENT IS REQUIRED FOR THE EXACT LOCATION
Asking Price: $599,999
Annual Figures: 2023
Gross Sales: $502,382
Net Profit: $305,579
Business Highlights:
- In business for 34 years
- Services mainly North Myrtle Beach to Georgetown
- Projected to do over $600,000 in 2024
- Does not have physical location. Works from home.
- The owner is the only employee. This is perfect for a company that wants to add an additional $600,000 in revenue to their existing business while just adding 1 plumber.
- 2018 stocked van comes with the sale
- 50% residential and 50% commercial. Mostly service work. Does not have contracts.
- Most of the business is referrals. No website. A lot of value add with additional marketing!
- Fully approved by SBA lender
- Owner will stay on for 6 months to 1 year to make sure there is a smooth transition with customers
- Reason for the sale: Owner is 65 and retiring
2023 Addbacks:
Auto Loan : $12,000 (2 personal vehicles)
Dist of Profit: $157,200 (Owner distribution)
Equip purchase: $9,290 (Personal purchase from Lowes)
Total Payroll: $145,101 (Owners salary)
Retirement: $17,416 (Personal)
Simple Contribution: $4,032 (Personal)
Tax/Property: $1,309 (Personal property)
Tax/Property: $6,139 (Personal property)
Total Addbacks: $352,487
Net Income on 2023 P&L: ( - $46,908)
+ $352,487 (Total addbacks)
= $305,579 True net income for 2023
2022 Addbacks:
Auto Loan: $12,800 (2 personal vehicles)
Dist of profit: $157,200 (Owner distribution)
Total Payroll: $96,874 (Owners salary)
Retirement: $11,609 (Personal)
Simple Contribution: $2,688 (Personal)
Tax/Property: $1,748 (Personal property)
Total Addbacks: $282,919
Net Income on 2022 P&L: $46,515
+ $282,919 (Total addbacks)
= $329,434 True net income for 2022
2021 Addbacks:
Auto Loan: $12,800 (2 personal vehicles)
Dist of profit: $127,200 (Owner distribution)
Total Payroll: $96,874 (Owners salary)
Retirement: $12,333 (Personal)
Simple Contribution: $2,688 (Personal)
Tax/Property: $1,149 (Personal property)
Total Addbacks: $253,044
Net Income on 2021 P&L: ( - $20,208)
+ $253,044 (Total addbacks)
= $232,836 True net income for 2021
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
- 2338473
- Listing Views
- 1346
Listing ID: 2338473 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.
Businesses for Sale Building & Construction Service Businesses for Sale Other Services Businesses for Sale
Similar Listings
