High Net Plumbing Company For Sale In Myrtle Beach, SC

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