High Net Plumbing Company For Sale in Myrtle Beach, SC

Established Plumbing Company In Myrtle Beach, SC

High Net Plumbing Company For Sale In Myrtle Beach, SC

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 or a plumber that is not busy enough currently.
- 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