Motivated Seller/Low Multiple - $100k SDE Side Hustle - Home Services

Medford, MA

Seller Financing Available

listing image
Asking Price:$194,000
Gross Revenue:$305,823
Established Year:2022
Cash Flow:$107,312
EBITDA:$107,312
BUSINESS DESCRIPTION

20hr/wk - Dead Simple Business - Comprehensive Training and Support

No Construction Experience Necessary.

REASON FOR SELLING: Moving back to Maine for family reasons.

BUSINESS SUMMARY: This business location is 2 years old and is over the startup hump. Growing 15% year over year with a strong Q1 in 2024. Highly experienced and problem free staff will help smooth out the acquisition bumps (skilled labor makes or breaks this business and I've done the hard part for you on this front). 2 years of search engine optimization, google reviews, and website history means you're buying an established base of hands-off lead gen. This business can be run with 20hr/wk or less at its current transaction rate.

OPPORTUNITIES FOR GROWTH: Low hanging growth opportunities include:
1.) Referral fee kickbacks for local contractors (plumbers, testers, mold remediators, etc).
2.) Increased optimization of the website (I'm terrible about sending my team the "about you" write ups and job stories they would like to post).
3.) Uploading regular before and after photos of jobs (we post nothing at the moment).
4.) Managing a social media presence (we currently do no social media engagement).
5.) Wrapping a vehicle in line with franchise standards (my municipality does not allow this due to street parking concerns).
6.) Engaging third party lead gen sites like angies, thumbtack, etc are options once the new operator has gained some experience in the space, we currently do not engage any of these companies as they commodify our service.

VALUE PROPOSITION: Ever notice that all the mechanical systems of your home are BEHIND a plaster board wall? Well when those systems need to be serviced home service contractors like plumbers, electricians, etc cause a lot of damage to walls and ceilings. We are a premier wall and ceiling patching services in the northern half of the Greater Boston Area. Small jobs means a price premium, a simplified scope of work without customized details (a HUGE win), and competition that's primarily chasing larger remodel work. Nice little niche driven by google search results and contractor referrals.

TRANSACTION AND TRANSITION: I'll teach you the business and you'll have a huge franchise support network backing you up. They take care of the major marketing pushes and any technical difficulties you run into with lead generators like google. The business is priced for a 10 year SBA loan, I'll hold a 10% note with no interest. The deal pencils with no growth. I'll teach you the basic operations in the first few weeks post acquisition, and remain available via phone for 2-3 months afterward for any continuing questions.


DETAILED INFORMATION
Location
Medford, MA
Inventory
Not Included in asking price
Facilities
No hard assets come with this business. Technicians drive their own vehicles and buy their own tools.
Competition
Competition is decent for Jan-Mar as the commercial work and larger residential projects slow down. The rest of the year the larger crews are busy with bigger project and the small jobs go to handymen or painters, and a professional branded outfit like ours has a great competitive advantage. We employ professional online marketing and benefit from a history of professional work and a long list of happy customers. In our 2+ years in business we've had 4-6 callbacks total. This business has a low barrier to entry and high income customers want the best.
Growth & Expansion
There are some great opportunities to expand the service offerings into larger jobs, we currently pass on around 30% of incoming jobs due to size. Additionally, referral relationships have proved invaluable and are a great area of focus for future marketing. Lastly we do NO social media or website upkeep, for someone savvy in these areas you could begin pulling in a lot of business from Facebook (several contractors I've spoken with strongly recommend this route of lead gen).
Financing
This deal pencils well with an SBA loan. I'll hold a 10% ballon note.
Support & Training
I will teach you the business in 2-3 weeks and then will be available for 2-3 months for any additional questions you might have. I am moving to Maine a couple months after the sale but will be available via phone.
Reason for Selling
Moving to Maine due to family health concerns. Highly motivated for a quick sale
Home-Based
This business is Home-Based
Franchise
This business is an established franchise
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Joseph DenDanto
Joseph DenDanto