Featured Listing
Bend Oregon

Residential and Commercial
Painting Business For Sale

Fully Staffed, With Contractor Relationships

   

Financials	Asking $220,000
	FFE of $50,000 included in asking price
	Inventory of $1,000 also included in asking price
Gross	$630,704
Cash Flow	167,154
Summary Description	This business is an excellent, well branded painting business that has well over a decade of goodwill in the local market. Seller has established lucrative relationships with local residential home builders that provide a steady flow of work. Business is well staffed with experienced painters and has the potential for growth.
Background	The revenue stream comes from three segments: 85% from new residential construction, 10% comes from existing homes, and 5% from commercial projects. All projects are located in booming Central Oregon. Seller estimates 85% if his jobs comes from local Contractors and 15% comes in as one-off orders from home owners or commercial property owners. The majority of referred business that comes from the Trade comes from four local Contractors. Names of the contractors will be revealed during due diligence. Seller has relationships with several other smaller contractors as well. Introductions will be made during the training period. #1 Contractor = 38% of the contracted business. #2 Contractor = 15% of the contracted business. #3 Contractor = 12% of the contracted business. #4 Contractor = 7% of the contracted business. Other Contractors = 28% of the contracted business
Year Est.	1990
Employees	20
Facilities	Seller works from his house in Bend, Oregon and maintains a 1,200 sq. ft. storage unit for business equipment and supplies. Storage unit lease is $600 a month. The seller also pays gas and electric bills for the space and has two dedicated parking spaces. The storage space has been purpose-built out with shelving and ladder racks that maximize efficiency. There are no other equipment or facility leases in place. Seller recently added a new computer and a version of QuickBooks customized for contractors.
Opportunities	The seller had done no marketing in several years. Basic outreach through advertising, direct letter writing, home shows, and 1 on 1 meetings with new area contractors would return results. The business is almost exclusively in Bend and Redmond. Targeting other Central Oregon population centers like Sisters, Sunriver, La Pine, Prineville, and new communities that are being developed almost daily, could net large contracts over years and years of development as many of the these communities are just finishing permitting and beginning to break ground.
Growth/Expansion	Since this operation has a full staff of accomplished painters, a new owner may be able to remove himself from any day to day operations and focus on business building. The current owner has done the initial hard work of logging the painting hours and now has great references, a significant body of work, and a good reputation which can be more proactively capitalized upon. The new owner could dedicate more time to meeting contractors and commercial developers and providing consulting or bidding services.
Financing	Available to qualified buyers
Support/Training	Ten full-time employees and 10 part-time all paid hourly between $12 and $20 per hour. The journeymen do most of the training of new hires. The staff includes: 4 full-time journeyman painters, 6 full-time painters (non-journeymen, 10 part-time painters (non-journeymen). Seller will train new buyer for up to 3 months & make introductions to key relationships.
Reason for Selling	Seller is planning on relocating for a warmer climate, family & health concerns.

For more information on this listing contact Brody at 541.383.2444

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