Award-Winning Cleaning Business - Turn Key and High Profit Margins

Providence County, RI
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Asking Price:$875,000
Gross Revenue:$664,000
Rent:$416/Month
Established Year:1998
Cash Flow:$208,000
Inventory:$15,000
FF&E:$53,500
BUSINESS DESCRIPTION

Business comes with full management & systems, supervisors, multiple hard-working cleaning crews, impeccably maintained vehicle fleet and much more. Can be run from anywhere and owner can run fully absentee with the right systems in place. Seller is asking for around 4.2X multiple which is highly reasonable for a cleaning business that is this well managed including some of the most professionally prepared financials you will ever come across in a business sale this size.

This is an award-winning residential and commercial cleaning business with a strong reputation and brand. Business comes with HUNDREDS OF CUSTOMERS in Rhode Island, Massachusetts and beyond. Great RECURRING revenue and growing quickly.

A very rare opportunity to buy a full-fledged, fully-staffed cleaning business that works full time for you. This business has professionally prepared financials and has been growing quickly. Owner is facing health issues and is now ready to retire. He is seeking a qualified and well-capitalized buyer who can take the business to the next level.

The business provides office cleaning services, post construction cleaning, deep cleaning, move-in and move out cleaning, apartment turnover cleaning for property management firms, Airbnb cleanings, and residential maintenance cleaning services. The company works in teams of 2-3 cleaners at a time to get in and out of each property as quickly as possible. The business prides itself on the high quality of the work performed, which can be verified with its strong online reviews.

There is no end to the incoming business due to its Google and Facebook reputation, the advertising on the company cars, and word of mouth. Most cleaning businesses have very high demand and there is more work than any of them can take on however this business's demand is exceedingly high and is perfectly primed for massive expansion.

Currently operates out of leased office space, but business could be relocated/become home-based. Owner hours are generally 15/week and could easily transition to absentee.

Prime location, competitive pricing, and reputation keep incoming business at maximum capacity with no advertising. Primed for easy growth and expansion.

Due to seller’s health he is seeking a buyer who is able to put all or mostly cash down at closing (possibly will hold a very small seller note of 20% or less). SELLER IS NOT OPEN TO EARN-OUT DEALS.

THIS BUSINESS IS EXPECTED TO SELL QUICKLY. SERIOUS, CAPITALIZED BUYERS ONLY PLEASE.


DETAILED INFORMATION
Location
Relocatable
Inventory
Included in asking price
Real Estate
Leased
Building SF
200
Lease Expiration
30/09/2023
Employees
18
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
Office space in strip mall at a central location in RI and high traffic area. Used to store cleaning supplies, tools and equipment. The teams get their supplies each day and then load the cars to start the day. At the end of the day, the teams return the cars to the parking lot and the equipment goes back into the building for replenishment. Business assets include 4 company vehicles, cleaning equipment and supplies, computers, office furniture, company web site and social media presence, name recognition and goodwill.
Competition
Located in a prime location and requires very little marketing to grow the business. They have used Google and some low cost Facebook ads from time to time and that works very well to bring in a lot of new business in a short timeframe, though it has been more than 2 years since they have done any of this advertising. Competitors include Merry Maids, Choice 1 Cleaning, Life Maid Simple, and more. Most of these companies have higher prices and lower reviews.
Growth & Expansion
There is a lot of potential for a new owner. One of the first things they can do is increase prices for customers who are overdue for a rate increase. They can add another car and cleaning team to fulfill more of the unfulfilled business that is out there. They can turn on Google local services for deep cleanings and easily obtain high margin business. If they move to teams of 2 instead of teams of 3, the gross and net profits will go up as well. A new owner could add on a multitude of other cleaning services and related home owner services.
Support & Training
Primary owner will stay on to ensure the new owner learns the business and is confident on running it day to day before he steps away. The secondary owner will assist new accountant in taking over the books and make sure customer files and pricing are ready for transfer to the new owner’s software system. Both owners will remain on call for questions.
Reason for Selling
Retirement and health issues
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David
Ostermayer
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David Ostermayer